This week's Private Fund Update covers:
- The House Small Business Committee's Views and Estimates on the SBA's FY 2015 budget, which recommends authorizing $4 billion in FY 2015 for the popular SBIC program;
- The IRS's determination that bitcoin and other virtual currencies should be treated as property rather than currency;
- The SEC's recent cybersecurity roundtable; and
- FSOC's May 19 hearing on the asset management industry.
Key things taking place this week include:
- House Appropriations Committee hearings on the FY 2015 budget for the SEC, Treasury, and Small Business Administration;
- Wednesday's Small Business Committee hearing on bitcoin for small businesses; and
- Thursday's CFTC public roundtable on end-users.
Venable LLP tracks a wide range of regulatory issues, so please contact me for more information regarding anything contained in this update.
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