(Bloomberg) — Private equity firms, which three years ago became subject to oversight by the Securities and Exchange Commission, have fixed some of their worst deficiencies although their transparency could still improve, an SEC official said.

“The pace of change has been surprising,” Igor Rozenblit, the agency’s co-head of private-funds compliance inspections and exams, said at a conference today in New York. “I don’t think we’re there yet, but transparency has improved markedly. Some of the more objectionable issues are just ending.”

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