Doug Cornelius on compliance for private equity real estate
If you manage a private fund and are registered with the Securities and Exchange Commission, you spend a good chunk of April (and maybe more) filling out Form PF. Ever wonder what the SEC does with all that data? They publish an annual report on fund statistics, which was recently released. Form PF implemented Section … Read more »
President Obama nominated Lisa Fairfax and and Hester Peirce to fill the two vacant positions on the Securities and Exchange Commission. They will join May Jo White and Kara Stein. That leaves Michael Piwowar alone with his Y-Chromosome. Fairfax is a law professor and director for programs at George Washington’s Center for Law, Economics and … Read more »
I have been busy and not been able to post any of my own stories this week. Here are some other compliance-related stories that recently caught my attention. The Right Wing’s Assault on the Post Office – Smashing the Myth That It’s in Financial Trouble by Yves Smith in Naked Capitalism That year, the … Read more »
These are some of the compliance-related stories that recently caught my attention. The Unsophisticated Sophisticated: Old Age and the Accredited Investors Definition by Tao Guo, Michael S. Finke and Chris Browning in the CLS Blue Sky Blog Using two large nationally-representative data sets that include financial literacy tests, we find that financial literacy scores decline … Read more »
The Securities and Exchange Commission brought an action against Blackstone for failing to disclose fees received from portfolio companies and for discounts from legal firms that it worked with, but without passing these savings on to investors. The monitoring fee issue has been discussed in compliance circles for some time. The legal fees action is … Read more »
The Chair of the Securities and Exchange Commission offered a sneak peak of upcoming regulations. Mary Jo White was speaking at the 75th Anniversary Celebration: Investment Company and Investment Advisers Acts and offered a few tidbits. Chair White spoke about the history of the Acts and offered a glimpse into the future: Today, as many … Read more »
These are some of the compliance-related stories that recently caught my attention. The Curious Incident of the ‘Life Coach’ and the Press Release by Bruce Carton in Compliance Week As I’ve observed before, the SEC loves to craft press release headlines that feature defendants’ interesting or high-profile jobs. For example, past SEC headline highlights … Read more »
Some Securities and Exchange Commission cases catch my attention because of their headlines or their focus on a real estate investments. The case against Lee Dana Weiss caught my attention because it was from my home town. The story is one of alleged self-dealing and failure to disclose conflicts. In a complaint filed in U.S. … Read more »
Strong rulemaking is central to the mission of the Securities and Exchange Commission. Transparency to the process is important so the affected parties can provide input and see changes coming. To help with mission and to improve transparency, the SEC launched a new database intended to provide better transparency. I applaud any effort the SEC … Read more »
The SEC is hosting a conference Tuesday, September 29 to commemorate the 75th Anniversary of the Investment Company Act and the Investment Advisers Act. The event will include remarks from SEC Chair Mary Jo White and fellow commissioners, as well as a series of panel discussions featuring industry pioneers, former SEC chairmen and division directors, … Read more »