Deals
House Votes to Make Private Equity Life Easier Amid Fines
- U.S. lawmakers approve bill that would ease some disclosures
- Proposal comes as SEC levies record fines against firms
The flag waves in front of the U.S. Capitol on Dec. 19, 2011, in Washington.
Photographer: Chip Somodevilla/Getty ImagesThis article is for subscribers only.
U.S. House lawmakers voted to relax oversight of the $2.4 trillion private equity industry just as its biggest players face record fines.
Apollo Global Management LLC, Blackstone Group LP, KKR & Co. and others have been scrutinized by regulators and penalized in recent months for failing to reveal some fee practices to clients. Disclosures about those firms’ holdings would be rolled back under the proposal, which was approved Friday in a 261-145 vote by the House of Representatives.