Update 1:30 p.m.
Sullivan & Cromwell is no longer lobbying for the Private Equity Council.
Lobbying disclosure reports show the representation ended June 30. The trade group for private equity companies signed up with Sullivan & Cromwell in early 2009 and has paid the firm $370,000 in lobbying fees since then, disclosure documents show. According to the reports, the firm recently lobbied on financial regulatory reform.
The Private Equity Council did not immediately comment. The trade group is still a client of three other firms, including Akin Gump Strauss Hauer & Feld, Brownstein Hyatt Farber Schreck and Capitol Tax Partners. The council reported spending $690,000 on lobbying in the first half of 2010.
Robert Stewart, a spokesman for the Private Equity Council, said that “Sullivan and Cromwell was advising the PEC principally on issues related to financial regulatory reform legislation, which in some cases involved lobbying efforts. Now that the legislation has been passed and signed by the President, we no longer expect that they will be engaged in lobbying on our behalf. We may well use them on other matters in the future.”