Doug Cornelius on compliance for private equity real estate
How Hanukkah Came to the White House by Jonathan D. Sarna in Forward.com The first president who took official notice of Hanukkah was one of the Jewish community’s least-favorite occupants of the White House, Jimmy Carter. In 1979, he ended 100 days of self-imposed seclusion over the Iran hostage crisis by walking to Lafayette Park, … Read more »
These are some of the compliance-related stories that recently caught my attention. Your next PR battle is brewing in Private Funds Management Last week, the California Public Employees’ Retirement System (CalPERS) released carried interest data that several media outlets were quick to spin as private equity somehow being more expensive than investors had realized, … Read more »
“Audit firms must be held responsible when systemic failures such as inadequate engagement procedures, staffing, or supervision cause the firms’ work to fall significantly short of expected standards, particularly when multiple audits and engagements are involved.” – Andrew J. Ceresney, Director of the SEC’s Division of Enforcement. The SEC recently brought separate cases against senior … Read more »
To start with the obvious, helping terrorists and drug kingpins with their finances is bad. The US regulatory machine has been clamping down tighter on financial institutions who engage in this bad behavior. As the bad acts continue, the regulators keep tightening the regulatory requirements. The latest tightening of the screws comes from New York. … Read more »
If your Thanksgiving was anything like mine, you have leftover food. It’s a poor allocation of resources, but Thanksgiving has turned into a weekend of excess. Excess food, excess shopping, excess football, excess dessert, excess waistline. Perhaps your compliance program is also filled with leftovers. Very few compliance officers would say that they have more … Read more »
There has been considerable discussion in the compliance community around the Securities and Exchange Commission bringing charges against compliance officers. There are three areas that the SEC feels it is justified in bringing charges: (1) when the compliance officer is involved in the wrongdoing; (2) when the compliance officer impedes the examination or investigation; and … Read more »
That means an extra long weekend for me. In Boston, the big traffic rush was on Tuesday night to avoid the traffic on Wednesday. I think most people have a half day on Wednesday or the day off. I hope you get to enjoy a long weekend before the push for year-end. I’m going for … Read more »
If you are looking for something to read during the long Thanksgiving Weekend or a great holiday present, pick up a copy of the newly released The US Private Equity Fund Compliance Guide, Volume III. PEI Media just released this follow up that updates the original 2012 edition with the ongoing review and actions of … Read more »
Last week at the Coping With Regulatory Failure conference, representatives from Securities and Exchange Commission repeated the SEC’s line that the SEC is not after compliance officers. But yet another case of CCO liability came out and this one kicks the CCO out of the industry and levels a $60,000 fine. The SEC panelists repeated … Read more »
These are some of the compliance-related stories that recently caught my attention. Attributes of a Great Ethics and Compliance Leader by Jean-Marc Levy in Corporate Compliance Insights The three most important qualities of a CECO are courage, a deep understanding of his/her business and emotional intelligence. These qualities go beyond the traditional role of an … Read more »