Doug Cornelius on compliance for private equity real estate
I want to thank the many readers of Compliance Building who donated to my Pan Mass Challenge ride that raised money to fight cancer. This weekend I’m entered in another charity bike ride. This 100-mile ride in Saratoga Springs is to raise money for the Juvenile Diabetes Research Fund. My teenage son was hospitalized and … Read more »
Live Well Financial found a great way to make money. Mark up your assets, gets loans on the inflated values, buy more assets, mark them up, gets loans on the inflated values, buy more assets, and so on and so on. But it’s only great until a lender wants its money back. Live Well Financial, … Read more »
Investment advisers are often stuck with voting of equity securities on behalf of their clients. This falls under the investment advisers’ duties of care and loyalty with respect to services undertaken on the client’s behalf, depending on the authority granted to the adviser. The Securities and Exchange Commission issued two sets of interpretive guidance last … Read more »
The SEC’s Office of Compliance Inspections and Examinations issued a Risk Alert describing failures by investment advisers to comply with regulatory requirements when engaging in principal and agency-cross transactions. OCIE found that many advisers did not even recognize that they were engaging in (1) a principal transaction by buying or selling to a client or (2) … Read more »
These are some of the compliance-related stories that recently caught my attention. The Houston Texans and (How Not To Do) Long Term Compliance StrategyTom FoxFCPA Compliance & Ethics Yet as idiotic as the giveaway of Clowney was, it was only the opening move. Later that day, the Texas traded not one No. 1 pick, not … Read more »
San Diego-based ANI Development LLC, its principal, Gina Champion-Cain, raised hundreds of millions of dollars from investors to make short-term, high-interest loans to parties seeking to acquire California alcohol licenses. The SEC alleges, the investment opportunities were shams and diverted directed significant amounts of investor funds to other uses. Under California state law, liquor license … Read more »
Real estate related fraud cases with the Securities and Exchange Commission catch my attention. Two real estate-ish cases popped up in a flurry of cases filed before Labor Day weekend. One was for timber and the other for mobile home parks. Timber operates in a gray area between real estate and extraction. Clearly, the land … Read more »
Hopefully, if this form filing is applicable to your firm, you’ve already sent it in. It’s due on August 30. The penalty for failing to submit the form is a civil penalty of not less than $2,500 and not more than $25,000. The form is required if your firm was the recipient of a mailing … Read more »
“The compliance associate had no trading experience and no formal training to conduct the review required by the rule, such as training related to the analysis of financial statements and other information.” Rule 15c2-11 of the Exchange Act requires broker-dealers to obtain, review and maintain information about the issuer before initiating or resuming the publication … Read more »
These are some of the compliance-related stories that recently caught my attention. Woodstock 50th and Succession Planning in Complianceby Tom FoxFCPA Compliance & Ethics The Woodstock music festival informs today’s topic of succession planning from the compliance perspective and is another area where compliance can play a key role. A.G. Lafley and Noel M. Tichy, in … Read more »