Doug Cornelius on compliance for private equity real estate
These are some of the compliance-related stories that recently caught my attention. Listing Gaps, Merger Waves, and the Privatization of U.S. Equity Finance by Gabriele Lattanzio, William L. Megginson and Ali Sanati in The CLS Blue Sky Blog The number of U.S. listed companies declined by almost half between 1996 and 2012, from 8,090 to 4,102, … Read more »
The Economic Growth, Regulatory Relief, and Consumer Protection Act, enacted on May 24, 2018, amended the Bank Holding Company Act by modifying the definition of “banking entity” to exclude certain small banks from the Volcker Rule’s restrictions and permitting a banking entity to share a name with a hedge fund or private equity fund that … Read more »
As a New England Patriots Fan from the 1970s, it’s hard to imagine the current success of the franchise. The stadium was one of the worst in the NFL. Home games were rarely televised because the games didn’t sell out. When the Patriots finally made it to the Super Bowl they lost in the most … Read more »
Perhaps the Securities and Exchange Commission saw the government shutdown coming when it published its 2019 exam priorities on December 20. Compliance and Risks in Critical Market Infrastructure – Examiners will focus on entities that provide services critical to the proper functioning of capital markets, including clearing agencies, national securities exchanges, and transfer agents FINRA … Read more »
Stan Lee, the legendary writer and publisher of Marvel comics who helped created countless superheroes, has died. He was 95. On his own and through his work with collaborators Jack Kirby, Steve Ditko, Bill Everett. and others, Mr. Lee created Spider-Man, the X-Men, the Mighty Thor, Black Panther, Iron Man, the Fantastic Four, the Incredible Hulk, … Read more »
The Securities and Exchange Commission brought an action against SeaWorld Entertainment Inc. and its former CEO. They agreed to pay more than $5 million to settle fraud charges for misleading investors about the impact the documentary film Blackfish had on the company’s reputation and business. SeaWorld’s former vice president of communications also agreed to settle a fraud charge … Read more »
VSS Fund Management had a fund that was getting old. VS&A Communication Partners III was in its seventeenth year and still had two portfolio companies. Several limited partners wanted a liquidity option that would get them out of the fund. Providing that liquidity option got the firm in trouble. In accordance with the LP Agreement … Read more »
Since it’s back-to-school day for my community, I thought I would go back to the basics. The SEC’s Office of Investor Education and Advocacy 2014 Investor Alert identifies potentially fraudulent unregistered offerings with features that indicate a problem. The alert goes through 10 red flags for you to note about private placements. Private placements are not … Read more »
I read about a new red flag in the Securities and Exchange Commission’s exam process for investment advisers. Examiners are looking for Chief Compliance Officers with web-based email addresses. So, if your CCO uses a gmail, or yahoo.com email address on your Form ADV filing, the SEC will treat that as a red flag. This … Read more »
It was a brutal year for the cyclists in this year’s edition of the Tour de France. It’s always a brutal three weeks of racing, but teamwork helps separate the winners from the rest. Geraint Thomas came across the finish line in Paris as the first winner from Wales. His teammate and favorite to win, … Read more »