Debevoise & Plimpton LLP put on an excellent seminar focused on enforcement actions against private equity funds. Moderator: Kenneth J. Berman Speakers: Eric R. Dinallo Robert B. Kaplan Shannon Rose Selden Each fund manager is designated with a risk rating by the Securities and Exchange Commission. The Form ADV filing gives the SEC the background … Read more »
Are You Systemically Important?
One of the catchphrases that came out of the 2008 financial crisis was “too big to fail.” It’s a great concept, but hard to define in a meaningful way. Many think that there is no private company that should not be allowed to fail. Dodd-Frank created a concept of systemically important, trying to create additional … Read more »
The SEC and Social Media
Netflix chief executive Reed Hastings got into trouble on July 3, 2012 when he used his personal Facebook page to announce that Netflix had more than one billion hours of online viewing in June. That trouble came from an SEC rule implemented in August of 2000: Regulation FD. That rule was implemented to stop the … Read more »
Eye of Sauron for Compliance
What better way to ensure compliance than to have an eye watching you while you work? What better eye than the ultimate evil eye of Sauron? It’s a product of the day at ThinkGeek. But since the day is April 1, it’s not real. (At least not yet.) Your workers can breathe a sigh of … Read more »
Fund Investing and Crowdfunding
As the Securities and Exchange Commission has been dragging its feet on new crowdfunding regulations, companies are finding a way to crowdfund using the current rules. The biggest challenge is dealing with the broker-dealer registration requirements. If you sell securities on a transaction basis, you are likelya broker-dealer and need to deal with the registration … Read more »
Compliance Bricks and Mortar for March 29
These are some compliance-related stories that recently caught my attention. Kathleen Edmond of Best Buy Receives ERC’s Carol R. Marshall Award for Innovation in Corporate Ethics Established last year as a posthumous honor to former ERC Board member Carol R. Marshall, the award recognizes a chief ethics and compliance officer for innovation and leadership in … Read more »
File Your Fund’s PPM With FINRA?
FINRA Rule 5123 requires each FINRA member firm that sells securities in a private placement, subject to certain exemptions, to file with FINRA a copy of any private placement memorandum, term sheet or other offering document the firm used within 15 calendar days of the date of the sale, or indicate that it did not … Read more »
Antifragile – Things That Gain from Disorder
Taleb is back, and he is even more brash and brilliant. Nassim Nicholas Taleb’s fame grew from his second book, The Black Swan, being timely released just before the 2008 financial crisis. Antifragile continues his narrative on probability and risk. The Black Swan took on the theory that the highly improbable was a lot more … Read more »
One Week Left to File Your Form ADV Update
Most advisory firms and fund managers end their fiscal year on December 31. Under the SEC Advisers Act Rule 0-4, you have 90 days to file your Form ADV update after the end of your fiscal year. Last year that put the filing deadline on March 30 because it was a leap year. The next … Read more »
Compliance Bricks and Mortar for March 22
These are some of the compliance-related stories that recently caught my attention. NoDoz: Early Birds Needed to Work at SEC by Bruce Carton in Compliance Week What impact will White will have on the SEC? For one thing, it appears that those at the agency who work closely with the chairman will need to set … Read more »