SEC Tells Private Equity Firms to Report on Litigation Finance
Big private equity firms must privately report on the bets they make in the multi-billion-dollar litigation finance market under regulations the SEC approved last week. Firms could previously sidestep specific disclosures about litigation finance under commission rules from 2011. The lawsuit funding rules will now force them to report confidentially to the agency the percentage of their capital targeted for use by law firms as part of an investment strategy. More from Bloomberg Law.