SEC’s Gensler calls for sweeping reforms to private equity fee rules

The US investment industry’s top regulator has called for sweeping reforms of the rapidly growing $4.2tn private equity industry, proposing rules to ensure clearer disclosures of funds’ expenses and their performance metrics.

Gary Gensler, chair of the Securities and Exchange Commission, said he wanted to simplify and standardize the disclosure of fees, which have become increasingly complex as private equity firms introduce new layers of charges for consulting and handling their portfolio companies’ capital markets transactions. READ MORE