Seward & Kissel attorneys Jon Brose and Kevin Neubauer discussed Democratic Senator and presidential candidate Elizabeth Warren’s proposed legislation targeting the private equity industry in a webinar titled, “Senator Warren Has a Plan for Private Equity.”  Among other things, the legislation, co-sponsored by Senators Baldwin, Brown and Gillibrand, eliminates the favorable taxation of carried interest, makes funds and their owners potentially liable for portfolio company debt, further limits interest deductions by portfolio companies, imposes certain disclosure requirements and fiduciary obligations on private equity firms, limits post-acquisition dividends and distributions, and revises the bankruptcy rules for portfolio companies.

In case you missed it, a recording is available here.