Partners Christine Lombardo and Christine Schleppegrell are quoted in Compliance Week discussing new private fund rules from the US Securities and Exchange Commission.
Christine Lombardo discussed how advisers will have to determine whether they need to build in controls that trigger disclosures to allow certain activities to continue—“[o]r the fund adviser might determine to discontinue a practice, or do it in a completely different way,” she said.
Christine Schleppegrell remarked that certain parts of the rules are open to interpretation: “For example, it is still an open question as to the consent mechanisms that advisers can use to comply with the rule, and advisers will be working through that in the coming months as the implementation date approaches,” she said.
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