Doug Cornelius on compliance for private equity real estate
Every day is starting to feel like a Saturday: A ton of work to do, but I don’t have to go into the office tomorrow. A lot of my free reading time is consumed with trying to understand what is going on with the current pandemic. When I’ve had enough of that, I’ve been attacking … Read more »
The SEC must have realized that its relief from Form ADV filing and Form PF filing deadlines was not providing much relief. The SEC issued a new order for the deadlines. You still have to send the SEC a notice that your firm is relying on the Order, but you no longer have to say … Read more »
The SEC’s Office of Compliance Inspections and Examinations issued a statement on operations and exams during the pandemic. OCIE is still operational and can still run exams. They will be off-site through correspondence, unless necessary to be on site. I assume this means that OCIE is focusing on firms suspected of fraud and is limiting … Read more »
The timing of the Coronavirus is coming at the time most private funds are working on audited financial statements. Form ADV and Form PF The first move was giving some extra time to file your Form ADV. It requires notifying the SEC and posting information on your website. Similar extensions are available for filing Form PF. … Read more »
I’m going to assume that most of the readers of Compliance Building are working remotely. I hope your firms’ business continuity processes are holding up and you’re keeping things together. I have to admit that I’m getting a little crazy being stuck in the house and working from home so many days in a row. … Read more »
We are in extraordinary times. To me it feels like a combination of the days after 9-11 and the 2008 Lehman collapse. We are sheltered in place, fearful for our lives and the economy is grinding to a halt. Our government came up short in its response to pandemic. (I try to keep this blog … Read more »
These are some of the compliance-related stories that recently caught my attention. It’s a lot of Coronavirus, but not all of it. New FINRA Guidance on Pandemic RisksMatt KellyRadical Compliance Another day, another gumdrop of guidance from financial regulators that’s worth reading for the whole compliance community. This time it’s FINRA, which published a bulletin Monday … Read more »
In September 2019, the U.S. Department of the Treasury issued proposed regulations to implement the Foreign Investment Risk Review Modernization Act of 2018 (FIRRMA). Part of those proposed real estate transactions passing ownership to a foreign person near critical locations. The final regulations came out and are largely unchanged. The regulations extend CFIUS jurisdiction to … Read more »
These are some of the compliance related stories that caught my attention. SEC Provides Conditional Regulatory Relief and Assistance for Companies Affected by the Coronavirus Disease 2019 (COVID-19) Securities and Exchange Commission announced that it is providing conditional regulatory relief for certain publicly traded company filing obligations under the federal securities laws. The impacts of the … Read more »
In what proposes to be a big change in private placements, the Securities and Exchange Commission issued a set of proposed amendments that “provide a more rational framework, eliminate complexity and increase access to capital while preserving and enhancing important investor protections.” Offering and Investment Limits. The Commission proposed revisions to the current offering and … Read more »