Foley Partner Margaret Nelson was quoted in a Private Funds CFO article, “What Gensler’s tough talk could mean for private funds,” about how both regulators and lawmakers are bringing attention to the need for stricter regulations for private funds.
Nelson said, “There has been such a push under the last administration on retail investment advisers, and Gensler kind of hinted that he’s thinking more about private funds.”
Nelson adds, “You can see in Gensler’s most recent testimony the focus on pensions. There’s an awareness that private funds have mom-and-pop investors behind them, even if indirectly. And it seems like they’re focusing on newly registered IAs, as well as IAs that haven’t been examined in a while.”