Compliance Stuff

Government investigations can be costly. A simple subpoena for documents could entail collecting hundreds of thousands of documents from your email servers and personal devices, hiring attorneys to review and produce documents, and sitting for hours of interviews with government investigators. And if that investigation uncovers evidence of violations, the consequences could include significant penalties for a company and its principals. Private companies are not immune from these risks. The anti-fraud provisions of federal securities laws apply to private companies, and the US Securities and Exchange Commission (SEC) has not shied away from pursuing private companies (as well as their officers and directors) for alleged fraud. The US Department of Justice (DOJ) also closely scrutinizes startups and their founders. And because of the relatively long statute of limitations for securities fraud (five years for SEC civil enforcement and six years for DOJ criminal prosecution), statements m...

Across all industries, private companies, family offices, and their owners and management teams face rapidly evolving challenges, opportunities, and risks in the dynamic environment that is 2025 . Here are 11 issues that family offices and the owners and leaders of privately held companies should consider and be mindful of this year. 1. Mergers and Acquisition Landscape Much like 2024’s mergers and acquisitions (M&A) market, there continues to be a significant demand for deals due to pent-up undeployed capital and increased interest from financial sponsors. This includes increased interest from sell-side financial sponsors in selling private companies held by their early-vintage funds in order to open up opportunities to launch new fundraising endeavors. However, in evaluating potential M&A transactions, private companies (buyers in particular) will need to navigate a complex regulatory environment. Regulatory changes from the Trump Administration could spur significant M...