These are some of the compliance-related stories that recently caught my attention. White: SEC’s No. 1 priority is more adviser examinations By Mark Schoeff Jr. in Investment News The Securities and Exchange Commission’s top priority is to increase the number of investment adviser examinations it handles every year. How to go about doing that is … Read more »
Placement Agents and the SEC Inquiry of Private Fund Broker Dealer Requirements
Broker-dealer regulation in connection with the sale of private fund interests has become a focus of SEC inquiry. The David Blass speech on private funds and broker-dealer registration highlights the issue. If you have internal marketing people who are getting paid transaction based compensation for selling fund interests, there may be an issue. Even if you don’t … Read more »
AIFMD in the UK
HM Treasury has published its response to its first consultation on the transposition of the Alternative Investment Fund Managers Directive (“AIFMD”) in the United Kingdom. The main thrust of the AIFMD will not hit Europe for a few years, but in the meantime there will be more uniform limitations on private placements in the European Union … Read more »
Compliance Bricks and Mortar for May 10
These are some of the compliance-related stories that recently caught my attention. AIFMD Update – US Private Fund Advisers Marketing in the UK in Compliance Avenue Recent news from the UK suggests that these AIFMs have most likely been granted a reprieve until July 22, 2014 to comply with AIFMD in the UK. Earlier this … Read more »
FINRA Issues Regulatory Notice on Communications Regarding Real Estate Investments
FINRA issued Regulatory Notice 13-18 on compliance with the communications with the public rule concerning communications about unlisted REITS and other real estate investments. Among other things, FINRA is concerned about the use of pictures of real property in the marketing materials. FINRA Rule 2210 regulates broker-dealer communications with the public. Clearly, based on the … Read more »
Private Equity Real Estate 50: Which are Registered with the SEC?
Private Equity Real Estate just released its ranking of the top 50 real estate private equity fund managers. As I have done in the past, I parsed the list to see which managers are registered with the Securities and Exchange Commission as investment advisers. (Disclosure: my company is on the list.) 1 The Blackstone Group … Read more »
Compliance Bricks and Mortar for May 3
These are some of the compliance-related stories that recently caught my attention. SAC to Begin Clawing Back Compensation in Insider Trading Cases by Peter Lattman in DealBook On Thursday, Mr. Cohen sought to convince SAC investors and regulators that he takes compliance seriously. In a letter to his investors, Mr. Cohen announced a broad set … Read more »
Day Two at PEI’s Private Fund Compliance Forum
These are my notes from the Thursday sessions at PEI Media’s Private Fund Compliance Forum 2013. The Day started out with a closed door session called the CCO Think Tank. Since the doors were closed, I’m not going to share any specific notes. The public sessions: What’s on the regulatory horizon and how will it … Read more »
Ensuring compliance in your marketing and solicitation procedures
These are my notes from the Private Fund Compliance Forum 2013. Paula Bosco, Managing Director, Chief Regulatory Counsel & CCO, New Mountain Capital, LLC Abrielle Rosenthal, Senior Principal & Senior Compliance Counsel, TowerBrook Capital Partners L.P. The JOBS Act is going to change things. We just don’t know when or how. However, most people think … Read more »
How technology can improve your compliance process
These are my notes from the Private Fund Compliance Forum 2013. Jacqueline M. Giammarco, Esq., Chief Compliance Officer, Stone Point Capital Stephen Pope, East Regional Sales Manager, Smarsh Shawn Pride, Partner, Ernst & Young LLP Arthur Zuckerman, Chief Operating Officer, Chief Compliance Officer & Partner, Avista Capital Partners Think about how the technology can help … Read more »