The New York Times' Deal Professor has weighed in on the private equity industry and the new regulatory landscape that seems to be taking shape--albeit in fits and starts. The much-discussed registration requirement is deemed a relatively minor imposition. (Even if an actual rule is never passed, I have suggested firms consider some sort of voluntary registration.) The Volcker rule would seem like a bigger issue, but there's still a lack of clarity on the issue. The rule seems to prohibit banks from owning and running limited partnerships and private equity firms.

It seems like some banks are already moving to divest. For private equity funds, this could be a significant boost, as top banks exit the field. According to the Professor, the one area that might really restrict business boils down to higher capital requirements on securitizations. That could basically make financing harder along the entire financing food chain. Of course, it seems that most private equity firms are adjusting to a deleveraged environment already.  

For more:
- here's the column

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