Cheating In Ethics Class

Is this the worst ethics teacher? 64 Dartmouth Students Charged With Cheating In Ethics Class According to the story, attendance in religion professor Randall Balmer’s “Sports, Ethics and Religion” was measured using handheld devices known as “clickers.” In late October, some students passed their clickers to fellow classmates. Those classmates then used the clickers to […]

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Working at Home this Weekend?

I home your home computer works better than this one and that you don;t have to use Fortran, no matter easy it may be to use. Perhaps this is a good example of why past performance is not an indication of future results. I think this gentlemen from 1954 would be very surprised at what […]

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Compliance Bricks and Mortar for January 9

These are some of the compliance-related stories that recently caught my attention. Majority of RIAs should move under state regulation: Study by Mark Schoeff Jr. in InvestmentNews Shifting oversight of more registered investment advisers from the Securities and Exchange Commission to states would increase exam coverage at less cost than establishing third-party reviewers, a new […]

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Getting Ready for Your SEC Exam – Introductory Presentation

The phone rings and the caller ID pops up with US Securities and Exch… You swallow hard. They are coming. What now? One thing a private fund manager can do to smoothly take the SEC through an exam is to have an introductory presentation when they walk in the door. The SEC examiners will have […]

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More on the SEC and Funds’ REIT Subsidiaries

I discovered some additional information about the SEC’s position on the application of the Custody Rule to the REIT subsidiaries of private real estate funds. A few months ago, a real estate fund was undergoing an SEC exam and the examiners focused on custody. The examiners used the June 2014 Guidance on SPVs to take […]

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Related Party Mistakes with Private Funds

Related party transactions are rife with problems in all areas of the financial services industry. It’s hard to know if someone is looking out for your best interest, if they have interests on the other side of a transaction. Most private equity funds have some structure set up in the organizational documents to deal with […]

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Weekend Reading: Book de Tour

Do you like cycling? Do you like watercolors? Then Book de Tour is the perfect book for you. For the past few years, Greig Leach has been painting watercolors of key events from the Tour de France. This year he decided to compile all of the artwork with a narrative description into a single book. […]

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Backtesting Performance Failure

One area of performance advertising that the Securities and Exchange Commission has given great scrutiny, but not banned, is using backtested performance. Since, backtesting only shows theoretical past trades, it does not involve market risk. That means it’s inherently suspect. You can just keep fine-tuning the model to maximize results, with no ability to carry […]

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Weekend Reading: Boys in the Boat

Do you hate Hitler? Do you like sports? Then Boys in the Boat is a book to add to your “To Read” list. In the middle of the Great Depression, Joe Rantz is a farmboy from the Pacific Northwest who was literally abandoned as a child and rarely had two pennies to rub together. He […]

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Happy Holidays From Compliance Building

  I hope you have a happy and joyous holiday season. Whether it be Christmas, Hanukkah, Kwanza, Festivus, Feast of Winter Veil, Saturnalia, or New Year’s Eve, I hope you get to spend some extra time with friends and family. I will be trying to spend some extra time with my friends and family so […]

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