PEI’s Private Fund Compliance Forum

I’m attending Private Equity International’s Private Fund Compliance Forum. This is the third edition of forum. Last year focused on the steps leading up to registration with SEC as an investment adviser. This year, the forum is supposed to focus on what to expect in the first year of SEC registration and beyond.

I’m part of a session on Wednesday morning and another on Thursday afternoon. If you are one of the 200 or so attendees, stop me and say hello.

I may try to turn some of my notes from the sessions into blog posts.

Day One: Wednesday, May 2, 2012
8:45 – 9:00 PEI welcome & Chairman’s introduction
Expert panel: Post-registration update: Where are we now?

• Adjusting to the evolving role of a CCO
• Effectively managing the resources of your compliance program
• How are reporting requirements impacting you?
• Potential liability for a CCO

Moderator: Roman A. Bejger, Chief Compliance Officer, Providence Equity Partners L.L.C.
Panel Members:
Christian McGrath, General Counsel & Chief Compliance Officer, GTCR LLC
Adam J. Reback
, Chief Compliance Officer, J. Goldman & Co., L.P.
David Smolen, Chief Compliance Officer, Silver Lake

A view from the SEC

This session will provide you with in-depth analysis of how the SEC is dealing with new registrants. SEC officials will answer your most pressing questions to help you ensure an efficient compliance program.Carlo V. di Florio, Director, United States Securities and Exchange Commission, Office of Compliance Inspections and Examinations

Interviewed by Nicholas Donato, Editor, Private Equity Manager

10:3011:00 Networking Coffee Break
Best practices for addressing anti-corruption issues

• How are the SEC and the DOJ handling recent anti-corruption cases?
• UK Bribery Act
– How will it apply to US foreign offices?
– What impact will it have on entertaining requirements
– Knowing who you’re doing business with?
– Handling the increased due diligence requirements
– What to expect when they go into effect

Moderator: Douglas N. Greenburg, Partner & Vice Chair of the Global Litigation Department, Latham & Watkins LLP
Panel Members:
Edina Cavalli, Director, Global Head of Private Equity and Principal Investments Compliance, Barclays
Paul Golding
, General Counsel, Citi Infrastructure Investors
Kelly Nash, Compliance Counsel, General Atlantic
Paul Winters, General Counsel & Chief Compliance Officer, Denham Capital

11:5012:50 Update on the new regulations and how they will impact you going forward• How will new Treasury Department requirements impact the private funds community?
• Dissecting the Volker Rule
• How the evolving landscape will impact the PE community in the years ahead

Moderator: Karen Barr, General Counsel, Investment Adviser Association
Panel Members:
Jason E. Brown, Partner, Ropes & Gray LLP
Jason Mulvihill, General Counsel, Private Equity Growth Capital Council

12:50 – 2:15 Networking luncheon
2:15 – 3:00 Improving your compliance program through the use of technologyModerator: Graham Winfrey, Staff Writer, PEI Media
Panel Members:
Jeff Faber, Chief Financial Officer, Trafelet & Company, LLC
Stephen Marsh, Founder & CEO, Smarsh
Scott Ring, General Counsel, Bessemer Venture Partners

3:00 – 3:45
Workshop A: The role of social media in the compliance worldParticipants:
Doug Cornelius, Chief Compliance Officer, Beacon Capital Partners, LLC
Gerry Esposito, Managing Director, CFO & CCO Newbury Partners LLC

Workshop B: Post-Registration Impact on Foreign offices and doing business abroadParticipants:
Edina Cavalli, Director, Global Head of Private Equity and Principal Investments Compliance, Barclays
Alan K. Halfenger, Chief Compliance Officer, Bain Capital LLC
Greg Pusch, SVP, Director of Global Regulatory Compliance & CCO, HarbourVest Partners, LLC
3:45 – 4:00 Networking refreshments break
4:00 – 5:00 Mock Audit: Successfully maneuvering your way through an SEC exam

• What is the SEC looking for?
• How do you prepare for the SEC exam?
• Effectively communication with examiners
• Best practices for record keepingModerator: Ted Eichenlaub, Partner, ACA Compliance Group
Panel Members:
John P. Malfettone, Senior Managing Director, Chief Operating Officer & Chief Compliance Officer, Clayton, Dubilier & Rice LLC
Jim O’Connor, Chief Compliance Officer, Golden Gate Capital
Joel A. Wattenbarger, Partner, Ropes & Gray

5:00 – 6:30 Cocktail Reception and end of Day One


Day Two: Thursday, May 3, 2012
8:30 – 8:45
Continental breakfast CCO Think Tank (invite only)

This closed door session will allow CCOs to speak candidly about the issues impacting their office. Attendees can benchmark ideas and share best practices to help you gain solutions for common compliance concerns

James Gaven, Senior Compliance Counsel, Welsh, Carson, Anderson & Stowe
Jarlyth Gibson, Director of Risk Management and Compliance, Advent International
Alan K. Halfenger, Chief Compliance Officer, Bain Capital LLC
Jim O’Connor, Chief Compliance Officer, Golden Gate Capital

8:50 – 9:00 Chairman’s welcome
9:00 – 9:30
Keynote interview – Working with the SEC
H. David Kotz, former Inspector General, Office of the Inspector General, United States Securities and Exchange Commission (2007-2012), currently Managing Director, Gryphon Strategies

Interviewed by Lois Towers, Principal, Pantheon Ventures

9:30 – 10:10 Conducting an effective annual review

• What does the SEC want you to look at?
• Reviewing your firms valuation policies and processes
• Conducting your review throughout the year versus all at once

Charles Lerner, Editor, The US Private Equity Fund Compliance Guide and The US Private Equity Fund Compliance Companion & Principal, Fiduciary Compliance Associates LLC
Panel Members
Nicholas Denton-Clark, Managing Director & Chief Compliance Officer, PineBridge Investments LLC
Kelly S. Hale, Compliance Officer, TA Associates
Danielle M. Perfetuo, Chief Compliance Officer & Counsel, Alcion Ventures
Robert E. Phay, Jr., Associate General Counsel & CCO, Commonfund

10:10 – 11:00 Insider trading and restricted lists

• Why every fund needs to have a restricted list?
• Overview of recent cases and its impact on the private funds community
• Usage of expert networks

Moderator: John Sampson, Senior Executive, Ernst & Young LLP
Panel Members:
Paula Bosco, Chief Compliance Officer, New Mountain Capital, L.L.C.
James V. Gaven, Senior Compliance Counsel, Welsh, Carson, Anderson & Stowe
Jarlyth Gibson, Director of Risk Management and Compliance, Advent International
Jason Ment, Partner, General Counsel & Chief Compliance Officer, StepStone Group LLC

11:00 – 11:15 Coffee Break
11:15 – 12:15 A new era of fundraising and marketing

• Assessing what rules apply and how they are applicable to your firm
• Effectively displaying performance: How do you display performance data in your advertising?
• Gaining pre-clearance for political contributions
• When and where you can advertise?
• Best practices for addressing gifts and entertainment
• Reporting and pre-clearance obligations for personal trading
• How should you be reporting performance: net vs gross
• How state and local lobbying laws are impacting your office

Panel Members
Julia D. Corelli, Partner, Pepper Hamilton LLP
Kurt A. Krieger, Legal Director, Huntsman Gay Global Capital, LLC
Jason Ment, Partner, General Counsel & Chief Compliance Officer, StepStone Group LLC
Helane L. Morrison, General Counsel & Chief Compliance Officer, Hall Capital Partners LLC
12:15 – 12:20 Closing remarks
12:20 – 1:20 Closing Luncheon
12:30 3:30 Master Class: Effectively updating and maintaining your compliance programNow that the registration deadline is a thing of the past, many in the private funds compliance community are wondering what’s next. With greater requirements, comes greater responsibility. The maintenance and updating of compliance policies and procedures are vital to the success of every compliance program.

This master class will provide and in-depth overview of how to create and implement a successful and efficient compliance program from start to finish.

Nuts & bolts of putting together a compliance program
• Creating and updating a compliance manual to meet the needs of
the regulators, and also your firm
• Training your staff to ensure consistent application of compliance
policies and procedures
• Preparing for your annual review
• Formalizing the code of ethics

Effective recordkeeping
• Developing a uniform recordkeeping process throughout your firm
• Utilizing technology to ensure compliance
• Working with your LPs to attain proper documentation
• Maintaining the integrity of your reporting process

Ensuring compliance
• Establishing an internal culture of compliance
• Getting buy-in from senior management
• Effectively managing and delegating your resources
• Compliance best practices
• Establishing risk management tools to ensure greater compliance

For more master class information, and to register, visit:


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