Doug Cornelius on compliance for private equity real estate
Matthew Desmond took a deep dive into poverty and housing. He published the story of what he saw in Evicted: Poverty and Profit in the American City. The book follows several people in deep poverty living and being evicted from terrible housing in Milwaukee. Mr. Desmond lived among them in 2008 and 2009. He split his … Read more »
And the shot heard ’round the world Was the start of the Revolution. The Minute Men were ready, on the move. Take your powder, and take your gun. Report to General Washington. – Schoolhouse Rock! Patriots’ Day is a celebration of the anniversary of the Battles of Lexington and Concord, the first battles of the Revolutionary … Read more »
It was four years ago that David Blass mentioned that the SEC was taking a closer look at broker-dealer requirements for private fund managers in two contexts: selling interests in the funds and earning fees from the fund for capital transactions. Part of the problem is that the safe-harbors for selling your fund interests is … Read more »
The Securities and Exchange Commission took the “extreme step” of warning consumers that articles on the internet may not be objective and independent. They sent up a warning signal to deceptive promoters by announcing enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes that left investors with the impression they were reading independent, … Read more »
Air travel has gotten has gotten less pleasant over the years. The TSA makes it unpleasant to get to the plane. Then the plane themselves have reduced passenger room. United took the unpleasantness to an even lower level when it forcibly removed a passenger from an overbooked flight. “Flight 3411 from Chicago to Louisville was … Read more »
These are some of the compliance-related stories that recently caught my attention. You Need to Know This: YTD Securities Class Action Lawsuit Filings are Off the Charts by Kevin LaCroix in the D&O Diary Securities class action lawsuit filings have been going crazy. Securities suit filings during the first quarter 2017 set a pace that … Read more »
When you run across someone trying to get you to invest risk-free with a high annual return, you know you have run into a fraudster. Unless god is on the side of the investment, there is no such thing as a high-rate, risk-free return. Apparently, Larry Holley, the pastor of Abundant Life Ministries in Flint, Mich., … Read more »
I’ve said before that BitCoin is the Dutch Tulips of investments. The blockchain approach to recordkeeping is an interesting use of decentralized computed power for recordkeeping, but BitCoin units are less interesting. The main users are less than scrupulous users looking for ways to avoid things like anti-money laundering rules. Many bankers/traders see BitCoin as a way … Read more »
It’s been a busy week, getting information and drafting for the Form ADV filing. I have a big stack of stories to read and write, but these are some of the compliance-related stories that recently caught my attention. United’s Policy Management Lessons by Matt Kelly in Radical Compliance Compliance officers who want a glimpse of … Read more »
It’s that time of the year again. Real estate fund managers registered with the Securities and Exchange Commission are working on their Form ADV filings. I’m hearing a few questions about the right way to calculate Regulatory Assets Under Management. The instructions to Form ADV Part 1 Appendix B provide three steps on page 9: … Read more »