Power shifts in Congress seek greater controls around private funds (FundFire)

The legislative agenda being formed by the Democratic majority and its leaders looks to be in step with the SEC’s regulatory objectives for the private fund industry. While ESG related priorities are now a central focus for both Congress and regulators, according to FrontLine’s Founder and President Amy Lynch, many activities of private funds will be given a closer look. Ms. Lynch sees not only the typical historical exam areas for private funds being ramped up, but also emerging areas such as cryptocurrency and SPACs, as well as certain investment strategies of the private credit market. See FundFire (subscription required), ‚ÄúPrivate Fund Managers Should Brace for Major SEC Push on ESG”