Doug Cornelius on compliance for private equity real estate
A new no-action letter from the SEC’s Division of Investment Management should allow more employees of a fund manager to invest in their firm’s private funds under the Investment Company Act. Even better for the compliance department, compliance staff could fit the expanded definition of a “knowledgeable employee.” When operating under the Section 3(c)(7) exemption … Read more »
Financial Times columnist and bestselling author Tim Harford tries to show us that macroeconomics is not that hard in The Undercover Economist Strikes Back. In order to fix the economy, we need to understand the economy. The book is a “practically minded poke-around under the hood of our economic system.” It’s a sequel to The Undercover Economist, … Read more »
These are some of the compliance-related stories that recently caught my attention. New SEC investor advocate says he has investor-protection genes by Mark Schoeff Jr. in Investment News Mr. Fleming will head an office that is responsible for ensuring that the concerns of retail investors are elevated at the commission, as well as at self-regulatory … Read more »
One of the current issues around a fund manager or company from using advertising as part of its private placement fundraising is the proposed changes to filing requirements for Form D. Few people I have spoken with actually want to use general solicitation like bulk emails, newspaper ads, or web ads. But they do want … Read more »
IA Watch was able to get Drew Bowden, the Securities and Exchange Commission’s Director of the Office of Compliance Inspections and Examinations, to sit down for an interview. “The best thing [CCOs] can do is to be organized, be responsive and be helpful to the examination staff”. This can be measured by how timely you … Read more »
Real estate investment is capital intensive. Most opportunistic and value-add real estate investments are not cash flow positive for the entire ownership of the asset. As some point, an investment may be using equity to pay outstanding interest on debt. The line between a ponzi scheme and long term investment can hinge on the nature … Read more »
In 2007, the X Prize Foundation announced that it would give $10 million to anyone who could build a safe, mass-producible car that could travel 100 miles on the energy equivalent of one gallon of gas. The challenge attracted more than one hundred teams from all over the world. Jason Fagone follows four of those … Read more »
These are some of the compliance-related stories that recently caught my attention. The Financial industry – Life is Getting Tough by Michael Volkov in Corruption, Crime & Compliance In recent statements from the Justice Department and regulatory officials, prosecutors and regulators have warned the industry that individuals may be prosecuted in the future for money … Read more »
Gary Griffiths was a vice president and chief mechanical officer at Florida East Coast Railway. Cliff Steffes was a trainman at the Bowden Rail Yard for the company and the nephew of Gary. Gary and Cliff noticed there was a surprising number of tours of the rail yard by men in suits. Gary’s boss asked … Read more »
Steven M. Dombrowski was the former director of internal audit at Allscripts Healthcare Solutions. Through his position he learned that the company’s first quarter 2012 financial results were much worse than expected. Despite restrictions, he decided to profit from his company’s misfortune. He clearly knew that he couldn’t trade in the stock, so he decided … Read more »