From my family to yours. I hope your year ends with joy and that 2020 is even better. Read more »
Author: Doug Cornelius
You can find out more about Doug on the About Doug page
Compliance Bricks and Mortar for December 20
Here is my Star Wars: The Rise of Skywalker spoiler-free collection of compliance-related stories that I’m reading while waiting to watch the movie. The Intersection of Star Wars and ComplianceTom Fox and Jay Rosen On Monday, December 16, we begin with Episode IV-A New Hope and management of risk. On Tuesday, December 17, we move to Episode V-The … Read more »
Proposed Changes to Accredited Investor Definition
On Wednesday, the Securities and Exchange Commission proposed changes to the definition of “Accredited Investor” under Regulation D. The reason for the changes is to open the private market to a broader group of individual and institutional investors. For those hoping for a dramatic change in how to determine accredited investor, you’ll be disappointed. The … Read more »
Compliance Bricks and Mortar for December 13
These are some compliance-related stories that recently caught my attention. Do Private Equity Managers Raise Funds on (Sur)real Returns? by Niklas HuetherThe CLS Blue Sky Blog By analyzing valuations at the deal-level, I do not find any evidence of window dressing in private equity. The key factor for performance peaks lies in the deal composition rather … Read more »
Form CRS for Private Fund Managers
As part of Regulation BI package of regulatory changes, the Securities and Exchange Commission created a new Form CRS that needs to be delivered to “retail investors.” Of course there are questions from the industry. The SEC’s Division of Investment Management and Division of Trading and Markets created a website that answers Frequently Asked Questions … Read more »
Compliance Bricks and Mortar for December 6
These are some of the compliance-related stories I’ve been reading while digging out of the snow this week. Can the S.E.C. Force Repayment of Ill-Gotten Gains? by Peter HenningDealBook The issue before the Supreme Court will be whether a District Court can order a defendant to repay money obtained by fraud or trading on confidential … Read more »
Happy Thanksgiving
Enjoy some time off. Eat too much. Get outside. Go for a bike ride. Read more »
SEC 2019 Whistleblower Program Report
Section 924(d) of Dodd-Frank requires the Securities and Exchange Commissions Office of the Whistleblower to report annually to Congress on Office’s activities, whistleblower complaints received, and the response of the SEC to those complaints. In addition, Section 21F(g)(5) of the Exchange Act requires the SEC to submit an annual report to Congress. The SEC published … Read more »
SEC’s Rulemaking Agenda
The Securities and Exchange Commission released its Fall Regulatory Flexibility Agenda, showing its expected rulemaking activity over the next year and updating the Spring edition of its agenda. I highlighted three items from the Spring Agenda: Amendments to the Marketing Rules Amendments to the Custody Rules for Investment Companies and Investment Advisers Harmonization of Exempt … Read more »
Compliance Bricks and Mortar for November 22
These are some of the compliance-related stories that recently caught my attention. Death Knell for Regulatory Guidance Hits Most Federal Agencies… Broc RomanekTheCorporateCounsel.net We’ve been covering the Administration’s gradual squeeze on regulatory guidance for some time (here’s our latest from April). As noted in this DLA Piper memo, President Trump signed two ‘Executive Orders’ recently that limit the … Read more »