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If you were wondering yesterday, “Where is my weekly issue of Cabinet News and Views?”, here is the answer: The SEC’s Private Fund Adviser Rule is so significant – must reading, we think – that we decided to hold our issue just one day in order to give our team, led by senior counsel Maurine Bartlett, the opportunity to read, analyze, discuss and interpret the implications of the rule in our lead article this week. Simply put, the adoption of the rules by the SEC adds additional requirements to advisors of private funds. However, as Maurine et al note, the final rule does provide welcome relief to managers and advisors to CLOs and other “securitized asset fund[s].”

Also, in the late-breaking news category, I would recommend to you today’s Fund Finance Friday, which should be out shortly, where our Finance colleagues cover news out the second circuit in the Kirschner v. JP Morgan Chase case where the court held that syndicated loans are not securities.

Any thoughts on the new SEC rule or our other articles this week? You can reach out to me here.

Daniel Meade 
Partner and Editor, Cabinet News and Views

August 25, 2023
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