In part one of a two part series, national Private Equity co-chair Kimberly Smith spoke with Law360 on the importance of private equity firms having formal compliance programs to contend with both US and cross-border regulations. Kim stated, "While under the current administration there may be a reduced emphasis on enforcement in at least some areas, we are not seeing PE investors let down their guard when it comes to compliance. In fact, in many deals we see more of a concern about compliance-related risk than ever before due to the sky-high valuations at which many businesses are trading. When buyers have no choice but to pay top dollar for a company, there is virtually no margin for error, which can lead to more risk-averse behavior when it comes to assessing the risk related to a potential compliance issue." ("Why Law Firms Must Have A Compliance Plan For PE Clients," May 17, 2019)
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