Private fund Compliance forum

The SEC Exam: What We’ve Learned from Recent Exams

These are my notes, live from the forum. (Please pardon the rougher nature.) Speakers: Jason Brown, Partner, Ropes & Gray James Gaven, Senior Counsel and Chief Compliance Officer ,Welsh, Carson, Anderson & Stowe Byron Pavano, COO & Fund Counsel, Audax Group Abrielle Rosenthal, Managing Director, Chief Compliance Officer, TowerBrook Capital Partners LP The new registrant […]

Read full story · Comments { 0 }

Compliance Today: What’s Impacting the Compliance Community

These are my notes, live from the forum. (Please pardon the rougher nature.) Moderator: Rob Kotecki, Reporter, Private Funds Management Speakers : Roman A. Bejger, Esq., General Counsel & Chief Compliance Officer, Providence Equity Danielle Ryea, Senior Manager, EY David Smolen, General Counsel & Chief Compliance Officer, GI Partners The Blackrock enforcement action was levied […]

Read full story · Comments { 0 }
Private fund Compliance forum

Private Fund Compliance Forum 2015

I’m spending a few days in New York attending PEI’s Private Fund Compliance Forum. Last year, the SEC’s Drew Bowden dropped his illegal expenses bombshell. I wonder what his acting replacement, Marc Wyatt, will do as follow up later today. I plan to live-blog my notes during the conference. We’ll see how the power and […]

Read full story · Comments { 0 }
sec-seal

SEC’s Home Court or Federal District Court?

Dodd-Frank gave the Securities and Exchange Commission broader powers to bring its enforcement actions in its own administrative court, instead of federal district court. Dodd-Frank changed that with its Section 929P. The SEC may now impose a civil penalty in an administrative proceeding against any person or company. The SEC recently released its “Division of […]

Read full story · Comments { 0 }
man camp

Is a “Man Camp” a Security?

There was a land rush in North Dakota because of the stuff in the ground. Fracking for shale oil turned towns around the Bakken oil field into boom towns. It takes people to run those rigs, so the local population swelled in size, resulting in a shortage of housing. Some of the housing was minimally […]

Read full story · Comments { 0 }
uss jeanette

Weekend Reading: In The Kingdom of Ice

It’s amazing to me that we have gone from having unexplored areas on Earth to sending a spaceship to Pluto in less than 150 years. Hampton Sides’ In The Kingdom of Ice tells the story of terrible journey to find the North Pole. (If you’re interested in Pluto, New Horizons is approaching the dwarf planet […]

Read full story · Comments { 0 }
bricks

Compliance Bricks and Mortar for May 8

These are some of the compliance-related stories that recently caught my attention: Cyber Insurance: A Pragmatic Approach to a Growing Necessity by John Reed Stark and David R. Fontaine in Cybersecurity Docket To manage this burgeoning yet still nascent threat, just like other routine day-to-day risk and hazards, companies have started to include cybersecurity concerns […]

Read full story · Comments { 0 }
PERE top 50 2015

Private Equity Real Estate Top 50 – 2015 Edition of Who is Registered

Private Equity Real Estate has released its ranking of the top 50 real estate private equity fund managers. As I have done in the past, I parsed the list to see which managers are registered with the Securities and Exchange Commission as investment advisers. (Disclosure: my company is on the list.) — Name of institution […]

Read full story · Comments { 0 }
state street financial

Want to Buy a Boston Skyscraper?

The old fraud was someone selling you the Empire State Building. A new company wants you to buy State Street Financial Center in downtown Boston. But it’s not a fraud; just a focused real estate investment. Commercial real estate involves big chunks of capital. Some of those investments will meet underwriting, some will be home […]

Read full story · Comments { 0 }

Can A Fund Pay for the Manager’s Office Expenses?

This is not a question that you can answer without any background. Theoretically, a fund can directly pay a fund’s office expenses. It’s just that most investors do not expect to pay for a manager’s office expenses. Investors expect the management fee they pay to cover those expenses, with the rest as profit for the […]

Read full story · Comments { 0 }