A Whistleblower Wants to Take Away Private Equity's Fees

December 5, 2013

Jordan A. Thomas sheds light on private equity firms that act as unregistered broker-dealers

"For almost a decade, many of the largest and most prominent private equity firms appear to have chosen to increase their bottom line without subjecting themselves to the oversight, limitations and expenses of the required broker dealer regulatory regime," Thomas said.

He estimates that private equity firms have made more than $2 billion dollars in transaction fees over the last 10 years without being properly registered as broker dealers.