Doug Cornelius on compliance for private equity real estate
The Securities and Exchange Commission Commission’s Office of Compliance Inspections and Examinations issued examination observations related to cybersecurity and operational resiliency practices taken by SEC registrants. This compilation of observations is based on OCIE’s observations of broker-dealer, investment advisers, clearing agencies, national securities exchanges and other firms that OCIE has taken a look at. It’s not clear if these … Read more »
Jeff and Paulette Carpoff had what sounds like a great idea to me: mobile solar generator units. These are solar generators that would be mounted on trailers that could provide emergency power to cellphone towers and lighting at sporting events. Plus there were generous federal tax credits due to the solar nature of the generators. … Read more »
With the growth of marijuana businesses across several states, many see it at a sector ripe for investment with the possibility of big returns. While states approve the sale of marijuana, it’s not entirely legal. Federal law still lists it as a controlled substance. That makes banking difficult and oversight difficult for investors. It also … Read more »
These are some of the compliance-related stories that caught my attention. Two Anti-Corruption Items of Note Matt KellyRadical Compliance Good news for anti-corruption enthusiasts looking for something to read — we have two fresh pieces of literature this week that you can study and shoehorn into your compliance programs. First, Transparency International just released its … Read more »
Compliance; solve it with the blockchain. Operational due diligence; solve it with the blockchain. Shortcomings of separately managed accounts; solve it with the blockchain. Financial audits; solve it with the blockchain. Shaun MacDonald, managed to squeeze $30 million in ICO funding from investors for his idea to create ComplianceGuard, a blockchain based tool for funds, … Read more »
It depends. But it’s certainly not the scourge portrayed by the Stop Wall Street Looting Act. That bill is clearly myopic in equating private equity with leveraged buyouts. Even with that subset of private equity, the results of leveraged buyouts are not bad for the underlying companies. In a recent paper a group of economists … Read more »
These are some of the compliance-related stories that have caught my attention. Investment Funds – Year-end Compendium of Our 2019 Client UpdatesSidley Austin As the developments affecting the investment management industry continue to unfold, we have once again prepared our semiannual compendium of relevant Sidley Updates for our investment fund and adviser clients and friends. … Read more »
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations announced its 2020 examination priorities. OCIE has been publishing its examination priorities annually in an effort to enhance the transparency of its examination program and to provide insights into its approach to examination. With its current risk-based approach, the exam priorities highlight areas that OCIE … Read more »
For private funds to comply with the Custody Rule, they usually rely on the annual, independent audit prong for compliance. That rule requires an audit from an auditor that is subject to audit as defined in Regulation S-X. The SEC has proposed some changes to Regulation S-X that affect the auditor independent framework. “Many of … Read more »
Happy New Year! Here are some of the year-end and start-of-the-year stories for you. SEC And CFTC Regulatory Priorities To Watch In 2020 The Securities and Exchange Commission and the Commodity Futures Trading Commission expect to tackle a busy regulatory slate in 2020. For the chairs of both agencies — Jay Clayton at the SEC and Heath Tarbert at … Read more »