Doug Cornelius on compliance for private equity real estate
These are some of the compliance related stories that recently caught my attention. On the lighter side there has been a bit attention focused on a presidential appointment. Jack Lew, President Obama’s reported pick to replace outgoing Treasury secretary Tim Geithner, has drawn some unusual scrutiny because of his signature. Jack Lew’s Terrible Signature May … Read more »
Over the years, the Financial Crimes Enforcement Network (FinCEN) has required banks, brokers, and other financial entities to officially report suspicious activities of its customers. Investment advisers and private fund managers have managed to sty outside the requirements. In large part, that’s because a fund’s custodial accounts are already subject to the self-policing. since the … Read more »
If you tell investors that you have skin in the game, you need to have skin in the game. For the second time this year, the SEC has brought an enforcement action against a private fund for falsely informing investors that the Managers had skin in the game. Most investors want a manager’s executives to … Read more »
Thanksgiving Puck 1910 / BBaker. Creator(s): Baker, Bryant, 1881-1970, artist Date Created/Published: N.Y. : Published by Keppler & Schwarzmann, Puck Building, 1910 November 23. Read more »
The last time Washington saw Elizabeth Warren, she was thrown out of town for her strong advocacy of the Consumer Financial Protection Bureau. The Dodd–Frank Wall Street Reform and Consumer Protection Act established the CFPB. Warren is credited with creating the CFPB, tirelesslessy lobbying for its inclusion in Dodd-Frank, and worked on implementation of the … Read more »
Disaster recovery is an important, though not explicitly mandatory, component of compliance program. The Securities and Exchange Commission alludes to this in the release for the compliance rule. It’s also a key part of personal plan. I’m learning that first hand. My family is spending its third day without power. Fun and exciting at first, … Read more »
The SEC has once again claimed that its Aberrational Performance Inquiry has identified another miscreant. Once again, I’m skeptical that the SEC is actually using “proprietary risk analytics” to identify hedge funds with suspicious returns. The SEC alleges that Yorkville Advisors overstated the value of the assets in its funds to improve marketability and increase … Read more »
I’m working on presentation for a continuing education program and decided to step back and look at the basics. I went all the way back to “why?” You Are Required Sometimes the answer is easy. You have to have a compliance program. Your company is in a heavily regulated industry that explicitly requires a formal … Read more »
Last week’s release of the SEC’s game plan for allowing advertising for the private placement of securities will cause a big shift in what the public is able to see. As stated in the release of the proposed rule, the private market is nearly as big as the public capital markets. In 2011, $895 billion … Read more »
Few in the United States watch Olympic badminton. Fewer still are likely to watch after the ridiculous play in preliminary games. (Maybe a few will try to watch, just as a few slow down to watch the results of a car accident on the side of the road.) Four of the best teams in the … Read more »