The Capital Commitment

Proskauer on Private Fund Litigation

Ariella Muller

Ariella Muller

Law Clerk

Ariella Muller earned her J.D. from Columbia Law School, where she was a notes editor for the Journal of Transnational Law. While at Columbia, Ariella worked at the Manhattan District Attorney’s Office, the Queens District Attorney’s Office and the U.S. Attorney’s Office for the Eastern District.

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Private Equity Adviser Settles with SEC for Misallocation of Internal Expenses Relating to “Third-Party Tasks”

The SEC issued an order imposing sanctions against private equity adviser Rialto Capital Management, LLC (“Rialto”) for violations of the Advisors Act relating to expense allocation. The settlement addressed Rialto’s allocation of expenses for certain “third-party tasks” performed by in-house employees, which was allowed under the relevant fund documents with consent of the limited partner … Continue Reading

DC Circuit Opinion Reaffirms Fiduciary and Disclosure Obligations of Advisers While Rejecting SEC Finding of “Willful” Violations

The DC Circuit recently released an opinion addressing the SEC’s administrative findings against registered investment adviser The Robare Group (TRG) for failure to disclose alleged conflicts of interest. Although the court affirmed the SEC’s finding of a violation of Section 206(2) of the Advisers Act, it held that Commission could not find willful violations under … Continue Reading
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