Archive | Compliance Programs RSS feed for this section

What Compliance Officers Really Do

It’s an old meme, but it made me laugh.

Read full story · Comments { 0 }

Form PF Filing Day

If you run a private fund, today is deadline for the annual Form PF filing with the Securities and Exchange Commission. Depending on the type of fund, you have different reporting requirements. The SEC gets bogged down with poor definitions trying to distinguish among the types of funds. In the glossary to Form PF, a […]

Read full story · Comments { 0 }

The SEC Expresses Its Displeasure on Fund Fees

A few days ago, Bloomberg published a story that the Securities and Exchange Commission has examined about 400 private equity firms and found that more than half charged “unjustified fees and expenses without notifying investors”. The SEC followed through with that story and recently charged Total Wealth Management with improperly disclosing fee revenue. Total Wealth […]

Read full story · Comments { 0 }

Real Estate Investing and Crowdfunding

Real estate investing is capital-intensive. It should be a natural area for crowdfunding. The big concern is fees and conflicts. With a tech startup, you are investing in an idea and the people with the idea. It may grow exponentially or blow up, leaving little behind. Part of the investment is paying the people to […]

Read full story · Comments { 3 }

The SEC Endorses Yelp for Investment Advisers

Investment Advisers and the Securities and Exchange Commission have been struggling with the use of social media. Advisers see it as a way to communicate with clients and potential clients. The SEC sees it as an area ripe for fraud. Both are right. The SEC has stuck fast to rules on advertisements when it comes […]

Read full story · Comments { 0 }

Document Request List for Never-Before-Examined Advisers

In January, the Securities and Exchange Commission announced in its annual exam priorities for 2014 that it wanted to emphasize exams on never-before examined firms that had been registered before 2012. Then in February, the SEC officially announced its never-before-examined initiative. It looks a lot like the presence exams. ACA Compliance got its hands on […]

Read full story · Comments { 0 }

Compliance Lessons From My Dog

My dog has taught me a few lessons about compliance. (That’s me and Ghost taking a well-deserved nap.) Start early. We started dog training early to focus on developing good habits at an early stage. (We did lose a few shoes while he was a puppy.) It’s never too late to unlearn bad habits, but […]

Read full story · Comments { 0 }

Compliance Bricks and Mortar for February 7

These are some of the compliance-related stories that recently caught my attention. The Financial industry – Life is Getting Tough by Michael Volkov in Corruption, Crime & Compliance In recent statements from the Justice Department and regulatory officials, prosecutors and regulators have warned the industry that individuals may be prosecuted in the future for money […]

Read full story · Comments { 0 }

SEC Compliance Outreach Program National Seminar

The SEC’s Office of Compliance Inspections and Examinations (OCIE), Division of Investment Management, and the Asset Management Unit of the Division of Enforcement jointly sponsor the compliance outreach program. On January 30, 2014, there was a national meeting. These are my notes. Welcoming Remarks from Chair Mary Jo White Investors and the SEC relies on […]

Read full story · Comments { 0 }

Due Diligence for Alternative Investments

The Securities and Exchange Commission published a new risk alert on investment advisers and alternative investments. It’s a rambling piece that spends most its time laying out the OCIE’s observations on due diligence practices. To the extent there is any focus, it’s focus is on the perspective of advisers to pension funds and managers of […]

Read full story · Comments { 0 }