Doug Cornelius on compliance for private equity real estate
These are some of the compliance-related stories that recently caught my attention. SEC Charges Athena Capital in First HFT Case in the Corporate Crime Reporter The Securities and Exchange Commission (SEC) has sanctioned a New York City-based high frequency trading firm for placing a large number of aggressive, rapid-fire trades in the final two seconds … Read more »
Prior to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission’s authority to impose penalties in a case brought as an administrative proceeding was restricted to regulated entities. The SEC could not impose a significant civil penalty in an administrative proceeding. That limited administrative proceedings to cease-and-desist proceedings against broker-dealers, … Read more »
The Association for Corporate Growth released a report identifying the top compliance and regulatory concerns impacting small and midsize private equity firms. The results are unsurprising, but reinforce concerns. The top five regulatory issues were found to be: SEC Examinations (75%) Investment Adviser Act Compliance (66%) Valuation Issues (58%) General Solicitation rules (54%) Legislation (tax … Read more »
There is clearly an Ebola scare happening in the United States. It’s a nasty disease and that has attracted widespread media attention. Is there anything your compliance team should do about Ebola? I’ll assume that your firm does not have operations or personnel in West Africa. If it does, then yes, you should be concerned … Read more »
Last week, the son and heir-apparent to the president of Equatorial Guinea agreed to give up $34 million in assets as part of a settlement with the U.S. government over corruption claims. This was the latest attack by the Department of Justice’s Kleptocracy Asset Recovery Initiative. According to the Wall Street Journal, the Kleptocracy Asset … Read more »
It’s hard to imagine in these days of TSA security, but over a five-year period starting in 1968, hijackers seized commercial jets nearly once a week. Brendan I. Koerner captures this piece of history in The Skies Belong to Us: Love and Terror in the Golden Age of Hijacking. Mr. Koerner uses the hijacking of … Read more »
These are some of the compliance-related stories that recently caught my attention. Mathew Martoma’s Wife Fights to Keep Couple’s Florida Home, Millions in Cashby Bruce Carton in Compliance Week Martoma will begin serving his prison term next month, but his wife, Rosemary Martoma, is now challenging the $9.4 million forfeiture order. This week Rosemary Martoma asked the court to … Read more »
You’re bound to make a mistake. Don’t make the mistake even worse by faking a document you submit to the Securities and Exchange Commission in order to cover your original mistake. Back in 2012, the SEC brought charges against Waldyr Da Silva Prado Neto, a citizen of Brazil who was working for Wells Fargo in … Read more »
Nationwide Automated Systems offers turnkey ATM solutions. A turnkey ATM program addresses the need for ATM service, repair, system monitoring, and cash replenishment. Typically the ATM provide will split some of the fee income with the property owner where the ATM is located rather than pay a fixed rent. To raise capital Nationwide create a … Read more »
The results of the 2014 IA Compliance Compensation Survey, sponsored by IA Watch and the National Society of Compliance Professionals, have been released. You can visit the IA Compliance Compensation Results website http://www.salary.iawatch.com/. Use the results to benchmark and compare your compensation against peers in your area, plus the top 30 most populous metropolitan regions … Read more »