Private Fund Compliance Forum

Thousands of private equity firms are scrambling to meet the July deadline to register with the SEC. New disclosure rules are being proposed for private equity managers with more than $1bn in assets. PEI Media is producing its second annual PEI Private Fund Compliance Forum 2011 to help prepare you prepare for the new wave of regulations.

I will be speaking on a panel on the new rules governing fundraising. Here is the rest of the agenda:

Day One: Wednesday, May 3, 2011

8:50 – 9:00
PEI welcome & Chairman’s introduction

9:00 – 10:00
Expert panel:  Brave new world – Impact of SEC registration on finance and operations
– Creating a culture of compliance
– Getting buy-in from the GPs and other key stakeholders
– What does it mean to take on the role of a Chief Compliance Officer?
– Defining the function for your organization
– Budgeting for staff, outside consultants, technology
– Who do you appoint to be the CCO – CFO, GC or COO?

10:00 – 10:30
Keynote Speaker
Carlo V. di Florio, Director, United States Securities and Exchange Commission, Office of Compliance Inspections and Examinations

10:30 – 10:50
Networking break

10:50 – 12:00
Panel: The new form ADV 2 part 2
– Most important required elements for the brochure
– Addressing the  most challenges aspects i.e. confidential information and fees
– Handling updates and brochure supplements
– Effective delivery

12:00 – 1:00
Panel: CCO Clinic
What does it take to be an effective chief compliance officer?

1:00 – 2:15

2:15 – 3:15 – Workshop Session I

Workshop A: For new SEC registrants
– What to expect during the first year as a RIA
– ADV I and II forms
– Formalizing the code of ethics
– Custody rule compliance

Workshop B: For multi-strategy PE firms and  hedge fund affiliates
– Whether or not to have information barriers
– What  types of controls need to be put in place
– How do you prevent the misuse of information
– Conflicts of interest
– Flows of information

3:15 – 3:30

3:30 – 4:30 – Workshop Session II

Workshop C: Stepping up your internal compliance program
– Creating a firm compliance manual and training your staff
– Administering the terms of the limited partnership agreement
– Building a risk matrix and conducting an annual review
– Identifying risks; conflicts and fees

Workshop D: International Tax issues
– Recent tax changes and new regulatory frameworks in China, Australia, South Korea, India
– How do these changes impact returns?
– Modifying fund structures for tax efficiency

4:30- 5:30
Panel: What to do when the SEC knocks on your door?
– SEC hot buttons in an audit
– Disclosure issues
– Top 10 deficiencies for private funds

5:30 – 7:00
Cocktail Reception

Day Two: Thursday May 4, 2011

8:50 – 9:00
Chairman’s welcome

9:00 – 9:50
Panel: Update from Washington
– Hedge Fund Transparency Act
– Regulation of venture capital firms
– New initiatives on the horizon

9:50 – 10:35
Panel: The new due diligence regime – meeting requirements from LPs and regulators
– Presentation and documentation of track record
– Monitoring of trading activities
– Increased scrutiny around valuation
– Importance of integrity of reporting
– Compensation of operating partners

10:35 – 10:55
Coffee break

10:55 – 11:45
Panel: New rules governing fundraising
– Presentation materials and being compliant
– State procurement lobbying laws and their effect on raising money from public pensions
– Monitoring your employees’ political contributions•   Presentation materials and being compliant
– Coordination of global offering to US and non-US investors
– Monitoring your employees’ political contributions – prohibit vs. preclear?

11:45 – 12:40
Panel:  Effective and appropriate marketing materials
– Consider your audience – presentation to existing LPs, prospective LPs and portfolio companies
– Making sure that presentations are reviewed by compliance
– Interpreting rules governing marketing and advertising
– Web sites and other marketing materials
– Guidelines regarding talking to the press

Panel: Regulatory issues beyond Dodd Frank
– FCPA and UK Bribery Act compliance

1:15 – 2:15
Closing Luncheon



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