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Designated Lenders Counsel and Compliance

If you own a home, there was likely a lawyer sitting at the closing table. Who paid for the lawyer and who did the lawyer represent? You paid, but the lawyer worked for the bank. She or he was there to make sure the bank’s interests were protected. There was recent coverage of a similar […]

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Compliance and St. Patrick’s Day

My office is next door to Boston’s famous Irish pub, The Black Rose. It’s hard to ignore the celebrations, with patrons going in for a pint, while I’m going into my office. So I had to find a compliance angle. One of the miracles attributed to St. Patrick as part of his sainthood was driving […]

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Compliance Pie

Sometimes I’ve heard that the reward for a job is like winning a pie eating contest and finding out the prize is a pie. Is compliance like a pie eating contest? It seems to me that compliance only continues to get more complex and demanding. Companies will continue to do bad things. Legislators and regulators […]

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Adviser is Fined For Shortchanging Himself on Fees

Anyone in compliance and anyone running a fund knows that the Securities and Exchange Commission is laser-focused on fees being charged to investors. Marco Investment Management got it wrong and was subject to an order by the SEC. But, the firm actually short-changed itself. Marco’s advisory agreements with its clients called for a fee to […]

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Dodd Frank and Industry Consolidation

Enhancing regulations is meant to protect consumers. The side effect is often to protect the large incumbent firms and make it more difficult for smaller firms to thrive. This theory is proving true under Dodd-Frank. A study by Marshall Lux and Robert Greene on community banks found that since Dodd-Frank community banks have lost market […]

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Compliance Across Industries

One of the puzzling aspects of compliance is that it means vastly different things across industries. What compliance means to a bank is very different from what compliance means to a drilling company. I think the reasons are obvious: regulatory requirements. In a highly regulated industry, there will be a greater focus on complying the […]

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Compliance and the Super Bowl Victory

Defense wins championships. It’s an old sport cliche. However, the Denver Broncos proved it last night in the Super Bowl. The Orange Crush neutralized the NFL’s MVP, Cam Newton. Peyton Manning rounded off his career, landing win 200. Mr. Manning still has the most playoff losses of any quarterback. Of course that is because he […]

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Happy Start to Your Compliance New Year

I hope you were able to enjoy the long weekend. Perhaps an extra long weekend if you found December 31 to be an optional work day. Today is obviously not the first day of the new year, but it is the first day of work in the new year. With the new year, come the […]

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Hand drawing New Year concept with white chalk on blackboard. Going ahead to year 2016 and leaving the year 2015 behind.

Looking Ahead – Five Compliance Predictions for 2016

With my 2015 almost gone, I was thinking about what to expect in 2016 in the private fund and real estate fund compliance area. My crystal ball is not very reliable. If it was fully operational, I would have bought Apple stock in 2002 before the iPod came out. Real Estate Fund Enforcement Actions There […]

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The Compliance of the Winter Solstice

The winter solstice marks the longest night and shortest day of the year with the latest dawn and the sun at its lowest point in the sky. Its the shortest day of the year. But that is not entirely true and we see a problem of scope, bias, and definition. The solstice happens at the […]

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