The report concludes as follows:

"Form PF is not a perfect tool for monitoring trends in the private equity industry. The data collection lacks a long history, and reporting errors persist. Still, the analysis in this brief illustrates that Form PF data can be useful for monitoring basic fund characteristics. . . ."

There is only so much that analysts can do with data that is both limited and flawed. The report itself contains some moderately informative background as to the…

The SEC customer protection proposals are based on the well-intentioned and implicit assumption that if the requirements are adopted, broker-dealers will continue to offer the same customers the same variety and level of services at the same prices – and that the broker-dealers will do so in a way that provides additional protections and benefits to the customers.

What if that is not the case? What if, for example, (i) introducing brokers deregister to become investment advisers, (ii…

The role of an SEC commissioner is to establish securities law policy, not to rewrite tax policy. Tax policy is driven by considerations that are somewhat larger than executive stock buybacks. From an economic standpoint, Commissioner Jackson's observation that companies used the reduction in taxes to buy back their stocks, largely from U.S. investors, as opposed to investing in "innovation," is an inconsequential one. If money sitting overseas is returned to U.S. investors, those investors…

The addition of these Focus Pages, combined with the wealth of materials that are already a part of this technology, makes US Regulatory Intelligence the only financial regulatory platform that offers such a powerful and cost-effective means of getting answers, keeping current and assessing developing risks.