Fund Fire’s Lydia Tomkiw spoke with GAP Partners Brian Guzman and Roseanne Harford about the SEC’s sweeping private fund reform proposal. Roseanne questioned the proposal’s lack of detail on costs, noting the SEC’s responsibility to balance the anticipated benefits of their proposals against the likelihood that they will operate as a barrier to new firms entering the market. Brian anticipated a “hyperactive” comment period on proposals that would amount to a sea change for the industry, if adopted. Link for subscribers.