Thousands of private equity firms are scrambling to meet the July deadline to register with the SEC. New disclosure rules are being proposed for private equity managers with more than $1bn in assets. PEI Media is producing its second annual PEI Private Fund Compliance Forum 2011 to help prepare you prepare for the new wave of regulations.
I will be speaking on a panel on the new rules governing fundraising. Here is the rest of the agenda:
Day One: Wednesday, May 3, 2011
8:50 – 9:00
PEI welcome & Chairman’s introduction
9:00 – 10:00
Expert panel: Brave new world – Impact of SEC registration on finance and operations
– Creating a culture of compliance
– Getting buy-in from the GPs and other key stakeholders
– What does it mean to take on the role of a Chief Compliance Officer?
– Defining the function for your organization
– Budgeting for staff, outside consultants, technology
– Who do you appoint to be the CCO – CFO, GC or COO?
10:00 – 10:30
Keynote Speaker
Carlo V. di Florio, Director, United States Securities and Exchange Commission, Office of Compliance Inspections and Examinations
10:30 – 10:50
Networking break
10:50 – 12:00
Panel: The new form ADV 2 part 2
– Most important required elements for the brochure
– Addressing the most challenges aspects i.e. confidential information and fees
– Handling updates and brochure supplements
– Effective delivery
12:00 – 1:00
Panel: CCO Clinic
What does it take to be an effective chief compliance officer?
1:00 – 2:15
Luncheon
2:15 – 3:15 – Workshop Session I
Workshop A: For new SEC registrants
– What to expect during the first year as a RIA
– ADV I and II forms
– Formalizing the code of ethics
– Custody rule compliance
Workshop B: For multi-strategy PE firms and hedge fund affiliates
– Whether or not to have information barriers
– What types of controls need to be put in place
– How do you prevent the misuse of information
– Conflicts of interest
– Flows of information
3:15 – 3:30
Refreshments
3:30 – 4:30 – Workshop Session II
Workshop C: Stepping up your internal compliance program
– Creating a firm compliance manual and training your staff
– Administering the terms of the limited partnership agreement
– Building a risk matrix and conducting an annual review
– Identifying risks; conflicts and fees
Workshop D: International Tax issues
– Recent tax changes and new regulatory frameworks in China, Australia, South Korea, India
– FATCA
– How do these changes impact returns?
– Modifying fund structures for tax efficiency
4:30- 5:30
Panel: What to do when the SEC knocks on your door?
– SEC hot buttons in an audit
– Disclosure issues
– Top 10 deficiencies for private funds
5:30 – 7:00
Cocktail Reception
Day Two: Thursday May 4, 2011
8:50 – 9:00
Chairman’s welcome
9:00 – 9:50
Panel: Update from Washington
– Hedge Fund Transparency Act
– Regulation of venture capital firms
– New initiatives on the horizon
9:50 – 10:35
Panel: The new due diligence regime – meeting requirements from LPs and regulators
– Presentation and documentation of track record
– Monitoring of trading activities
– Increased scrutiny around valuation
– Importance of integrity of reporting
– Compensation of operating partners
10:35 – 10:55
Coffee break
10:55 – 11:45
Panel: New rules governing fundraising
– Presentation materials and being compliant
– State procurement lobbying laws and their effect on raising money from public pensions
– Monitoring your employees’ political contributions• Presentation materials and being compliant
– Coordination of global offering to US and non-US investors
– Monitoring your employees’ political contributions – prohibit vs. preclear?
11:45 – 12:40
Panel: Effective and appropriate marketing materials
– Consider your audience – presentation to existing LPs, prospective LPs and portfolio companies
– Making sure that presentations are reviewed by compliance
– Interpreting rules governing marketing and advertising
– Web sites and other marketing materials
– Guidelines regarding talking to the press
12:40-1:15
Panel: Regulatory issues beyond Dodd Frank
– FCPA and UK Bribery Act compliance
1:15 – 2:15
Closing Luncheon