Finally, the SEC is going to take some action today on the regulation of investment advisers, venture capital funds, and private fund managers. For years, they’ve been trying to get regulatory control of private funds. Now they are going to get it. Do they really want it? Sometimes what you want to do is not … Read more »
Enterprise 2.0 – Regulatory and Compliance Concerns
I’m once again speaking at the Enterprise 2.0 Conference. Social Media & Social Networking: Some Cautionary Tales (Location: Room 312) Social media (Twitter, LinkedIn) and enterprise social networking solutions (profiles, activity streams, social analytics) can deliver compelling business value. However, benefits do not come without risks. This panel discussion with experts and practitioners will provide … Read more »
Be Mindful of Compliance Costs
That story is title does not come from me; it’s a quote from Commissioner Troy A. Paredes of the Securities and Exchange Commission. We cannot simply focus on the costs and benefits of a single rule change on a stand-alone basis. It is the totality of the regulatory infrastructure that impacts the private sector. As … Read more »
Compliance Bits and Pieces for June 17
These are some compliance-related stories that caught my attention: Still Writing, Regulators Delay Rules by Louise Story in the New York Times Regulators overseeing financial reform are delaying many of the planned changes in the immense market for complex securities known as derivatives because they are running drastically behind schedule in writing their new rules. … Read more »
Bruins and Compliance
I never thought the Bruins would win a championship under the current ownership. For the Celtics, Red Sox, and Patriots, it took a change of ownership for them to become championship caliber. The “Tone at the Top” was to win the championship. Nothing else was acceptable. The owners of the Bruins had been accused of … Read more »
Three Compliance Officers Walk Into a Bar…..
The professional recruiters of Howard-Sloan must have been up really late one night to come up with the idea of trying to find America’s Funniest Compliance Professional. Mitchell Berger, Howard-Sloan’s chief executive, said that for several years in the 1980s to ’90s, the firm put on a similar contest for accountants. I suppose if you … Read more »
Fund Adviser Not Liable for False Statements in Fund Prospectus
A recent ruling in favor of the Janus mutual funds’ adviser in the Supreme Court is continued fall out from the mutual fund market timing scandal from almost a decade ago. The prospectuses for several Janus funds represented that the funds were not suitable for market timing and could be read that Janus Capital Management … Read more »
Corruption and Twitter
“If someone is being hit for a bribe, isn’t the easiest thing just to put it on Twitter? It goes round the world in next to no time.” Richard Alderman, head of the U.K.’s Serious Fraud Office, is apparently serious about Twitter. After self-congratulating themselves for organizing the government overthrows in North Africa and the … Read more »
Compliance Bits and Pieces for June 10
Here are some recent compliance-related stories that caught my eye. Investment Advice from George Carlin by Kent Thune in The Big Picture Try not to live in a hypothetical world. “What if there were no hypothetical questions?” ~ George Carlin Regulatory Delay Stokes Unease Over Dodd-Frank by Deborah Solomon and Victoria McGrane in the Wall … Read more »
Finally, Some SEC Action on the July 21 Deadline for Fund Managers
If you’re a private fund manager you have been worried about the looming July 21 deadline for registration. Given the 45 day review period, the filing deadline was June 6. That came and went without the SEC having the rules in place for registration. Sure, the SEC commissioners and staff have been saying the plan … Read more »