Doug Cornelius on compliance for private equity real estate
Enforcement actions by financial regulators can cause compliance professionals to rethink their career choice. In the majority of cases the SEC brings against CCOs, (1) the compliance officers are involved in misconduct that is unrelated to their compliance function or (2) the CCOs have engaged in efforts to obstruct or mislead the investigation. Typically in … Read more »
These are some of the compliance-related stories that recently caught my attention, The Fall of the Alamo: Analogy for Compliance Officers by Tom Fox in FCPA Compliance & Ethics [March 6] is the anniversary of the most historic day of many in the history of the great state of Texas, the date of the fall … Read more »
These are some of the compliance-related stories that recently caught my attention. CCOs Facing Retaliation by Matt Kelly in Radical Compliance So how should a compliance or audit professional handle retaliation? When should you take your concerns to regulators, or contemplate a lawsuit against your employer? To explore those questions I spoke with Jason Zuckerman, … Read more »
The SEC cancelled the adviser registration of an internet investment adviser because it never launched its website. Kevin Ajenifuja registered his firms with the SEC by filing its Form ADV on May 28, 2015. He stated the eligibility for registration was because the firm was an “Internet Investment Adviser.” Internet investment advisers typically are not … Read more »
The Custody Rule is full of foot-faults. The concept is easy: have a third party make sure that the investment adviser is not stealing money. That turns out to be a bit harder in execution. Mohlman Asset Management Fund was using the accounting firm Katz, Sapper & Miller, LLP to help with its funds’ financial … Read more »
Apparently, the blockchain makes everything cooler as a way to invest. Even securities laws shouldn’t get in the way. Reginald Buddy Ringgold, III thought he had escaped from the grasp of the SEC when a court refued to issue a preliminary injunction against his Blockvest ICO. The court changed its mind and slapped an injunction … Read more »
There were massive problems at the schools in Atlanta. Funding problems choked schools from needed capital investments and programming dollars. There was pressure to perform well on standardized tests under the No Child Left Behind Law, with fewer resources. That pressure was too much for some principals and school teachers. They cheated and changed answers … Read more »
The Institutional Limited Partners Association and 35 of its member institutions sent a letter to the Securities and Exchange Commission pushing for stronger regulations on private equity advisory firms. ILPA is asking the SEC to make 7 changes. Rescind the Heitman Capital Management No-Action Letter, issued in 2007. SEC enforcement settlements with private fund advisers … Read more »
These are some of the compliance related stories that recently caught my attention: Cybercriminals Have Your Business In Their Crosshairs And Your Employees Are In Cahoots With Them by Ivy Walker So how are your employees in cahoots with cyber attackers? Because the number one way hackers gain access to small business networks is when … Read more »
The Economic Growth, Regulatory Relief, and Consumer Protection Act, enacted on May 24, 2018, amended the Bank Holding Company Act by modifying the definition of “banking entity” to exclude certain small banks from the Volcker Rule’s restrictions and permitting a banking entity to share a name with a hedge fund or private equity fund that … Read more »