Doug Cornelius on compliance for private equity real estate
I try to keep looking for ways to interact with my kids in new ways. My son loves reading about military history, so I though I would add a book on that topic to my reading list. Reading it together would give us more things to talk about. Oxford University Press was kind enough to … Read more »
These are some of the compliance-related stories that recently caught my attention. IA Arrested On Bail For Continuing Fraudulent Scheme by T. Gorman in SEC Actions A focus of a typical bail hearing is flight risk – is the person charged likely to return for the pending court proceedings and face the charges. Recently, a … Read more »
I didn’t manage to get down to Washington DC to be there in person, but I’ve been watching the webcast of the Compliance Outreach Program National Seminar 2018 For Investment Adviser and Investment Company Senior Officers this morning. This is the agenda and my notes so far. Introductory Remarks from SEC Directors Speakers: Dalia Blass, … Read more »
I’ve been highly critical of cryptocurrency. It doesn’t act like a currency: people are not using it to actually buy goods and service (at least not legal goods and services). The world of coin offerings has been the wild west. In many instances, the sponsors are just ignorant of the securities law implications of their … Read more »
These are some of the compliance-related stories that I’ve been reading. Mulvaney’s CFPB plan is dangerous by Rob Blackwell in American Banker On Monday, Mulvaney called for four major reforms to CFPB: putting it on Congressional appropriations; creating a dedicated inspector general (currently the Federal Reserve’s inspector general oversees it); giving the president more oversight of … Read more »
On April 3, the Financial Crimes Enforcement Network published Frequently Asked Questions Regarding the Customer Due Diligence Requirements for Financial Institutions. The questions are about Customer Due Diligence Requirements for Financial Institutions, published on May 11, 2016, as amended on September 29, 2017. FinCEN is labeling it the CDD the Rule. The CDD Rule requires … Read more »
In establishing a new investment vehicle, a sponsor needs to find a pool of interested investors. Given the varying rules around fundraising in different jurisdictions, the sponsor may chose to look for support in one place over another. The big problem is the time and cost it takes to get a proposed investment registered in … Read more »
Just to revive any anger you have left from the 2008 financial crisis and its aftermath, a new academic paper found evidence of insider trading among corporate insiders at leading financial institutions during the Financial Crisis. That’s on top of other research that brokers leak information or front run trades. One research paper on political … Read more »
For those of you with that responsibility, I hope you have your Form ADV filed or ready to go. Meanwhile, here are some other compliance-related stories that recently caught my attention. It’s Not Cricket – Ethics on the Pitch by Tom Fox in FCPA Compliance & Ethics Is it cricket? Or isn’t it cricket? That … Read more »
The Securities and Exchange Commission’s case against Robert Magee and Valor Capital was a straight forward cherry picking case. What caught my eye was the data and statistical analysis that the SEC used to prove its charges. Magee was doing the wrong thing by order block trades in an omnibus trading account and then allocating … Read more »