Compliance Bricks and Mortar for August 15

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GPs look for ‘sweet spot’ on co-investment disclosures by Nicholas Donato in Private Funds Management

Part of the SEC’s thinking is that co-investments are being used as marketing tools – so some investor protection is needed to ensure that promises made during fundraising are being fulfilled. Inspectors apparently want to see that every prospective LP is given a heads-up that co-investments are part of the GP’s repertoire – and, ultimately, is given the chance to take part in these deals.

The Clearest Trend in the American Workforce Is Not an Encouraging One by Andrew McAfee

So it feels to me like something else is going on, in addition to the graying of the US workforce — some other forces that are causing more and more people in recent years to go to school, stay in school, go on disability, get discouraged and stop jobhunting, stay home to raise kids or take care of a sick or elderly loved one, or do any of the other things that means they’re no longer categorized as ‘working or looking for work.’

Second Circuit affirms dismissal of compliance officer retaliation suit against Siemens by Richard L. Cassin in the FCPA Blog

Meng-Lin Liu, a Taiwan citizen, said in his lawsuit filed in January 2013 in the U.S. district court in New York that by firing him, Siemens violated the whistleblower anti-retaliation provision of the Dodd‐Frank Act (15 U.S.C. § 78u‐6(h)(1)). The trial court judge, William H. Pauley, III, granted Siemens’s motion to dismiss with prejudice, holding that the anti-retaliation provision doesn’t apply extraterritorially, and that, on the facts alleged by Liu, his civil complaint sought an extraterritorial application of the statute.

4 Reasons Why Private Equity Firms Like KKR Offer the Best of Capitalism by Jonathan Yates in TheStreet

1. Private equity enhances shareholder value – When a private equity firm buys a company, it offers a higher share price.

2. Private equity deals add to the health of the financial markets – Private equity transactions improve the efficiency, and thus the health, of markets by injecting liquidity…[and] capital to entities of all sizes and types, too.

3. Private equity allows companies to better compete – When a private equity group acquires a business, that firm gains access to high-quality resources for managerial, financial, and legal matters. That naturally leads to companies that are managed much more efficiently with access to much more capital and other vital business resources.

4. Private equity opens opportunities for investors – For many private equity transactions, taking the company public is the exit strategy. That offers a greater selection to investors, which leads to more diversity and enhanced risk management, two of the most important considerations for any portfolio.

New York brokerage CEO criminally charged with obstructing SEC by Jonathan Stempel in Reuters

The chief executive of a New York brokerage was criminally charged on Friday with lying to the U.S. Securities and Exchange Commission and faking documents to disguise how his firm did not have enough capital.

 

Nooks and Crannies is by Phil Shirley
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Author: Doug Cornelius

You can find out more about Doug on the About Doug page

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