Doug Cornelius on compliance for private equity real estate
These are my notes from the NRS Fall Compliance Conference. Robert B. Hirth, Chairman, Committee of Sponsoring Organizations of the Treadway Commission Fred Shane, Chief Risk Officer, Commonwealth Financial Network Should CCOs be Taking on the Additional Role of a Chief Risk Officer? It Depends, of Course • Compliance requirements, degree of regulation, risk • … Read more »
These are my notes from the NRS Fall Compliance Conference. Ted Kobus, Baker Hostetler Karen M. Aavik, First Niagara Financial Group Tammy Eisenberg, CLS Bank International In 2012 the average cost of a data breach was $5.4 million. IBM 2014 Cost of Data Breach Study More breaches happen from lost laptops and media than third-party … Read more »
These are my notes from the NRS Fall Compliance Conference. Who better to talk about supervision than Ted Urban himself. He was the general counsel and chief compliance officer. One of the firm’s registered representatives went rogue. He and other line supervisors were charged by the SEC for failure to supervise. Urban pushed for the … Read more »
These are my notes from the NRS Fall Compliance Conference. John Walsh, Sutherland Karol Pollock, SEC Deputy Associate Regional Director (Exams) Karol outlined the examination process. 1. You get a phone call. But prior to the phone call, the examiners will have done some background research, looking at the firms ADV, public website and an … Read more »
These are my notes from the NRS Fall Compliance Conference Lance Burkett, District Director for FINRA Michelle Wein Layne, Regional Director for the SEC Andrew Hartnett, Securities Commissioner in Missouri and representing NASAA Each panel member went through list of enforcement and risk priorities that are currently high on their organization’s list. NASAA Broker Dealer … Read more »
I’m off to sunny Scottsdale to attend my first NRS Fall Compliance Conference. If you are also attending, try to find me and I’ll buy you a cup of coffee (or at least head to the coffee urn with you). I’m speaking on Wednesday afternoon on Issues in Private Fund Management with John Walsh, from … Read more »
We were in a cyber war with Iran. Kim Zetter unravels the story of Stuxnet, the US computer attack on Iran’s nuclear program in Countdown to Zero Day. A few months ago, I read A Time to Attack urging a US military attack on Iran. That book highlighted how Iran had been building a nuclear program … Read more »
These are some of the compliance-related stories that recently caught my attention. SEC Charges Athena Capital in First HFT Case in the Corporate Crime Reporter The Securities and Exchange Commission (SEC) has sanctioned a New York City-based high frequency trading firm for placing a large number of aggressive, rapid-fire trades in the final two seconds … Read more »
Prior to the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Securities and Exchange Commission’s authority to impose penalties in a case brought as an administrative proceeding was restricted to regulated entities. The SEC could not impose a significant civil penalty in an administrative proceeding. That limited administrative proceedings to cease-and-desist proceedings against broker-dealers, … Read more »
The Association for Corporate Growth released a report identifying the top compliance and regulatory concerns impacting small and midsize private equity firms. The results are unsurprising, but reinforce concerns. The top five regulatory issues were found to be: SEC Examinations (75%) Investment Adviser Act Compliance (66%) Valuation Issues (58%) General Solicitation rules (54%) Legislation (tax … Read more »