SEC probes private equity’s handling of client funds (Bloomberg)
FrontLine Compliance
The SEC is reviewing certain private equity firms’ records and communications related to their Silicon Valley Bank (SVB) accounts that occurred just prior to the bank’s collapse. The focus appears to be on how private equity firms moved deposits that included client funds out of SVB at that time. FrontLine’s Founder and President Amy Lynch is exclusively quoted and points out that the SEC’s initial interest in gathering information is to better understand the impact…
