Here are some compliance-related stories that recently caught my eye: Investing in an ethical corporate culture by Aarti Maharaj in Corporate Secretary Companies are starting to distinguish between non-financial and financial risks in order to continue improving their overall governance and business structures. But non-financial risks, such as ethics, still don’t get the attention they … Read more »
Near Misses, Catastrophes, and Compliance
The theme of the April edition of the Harvard Business Review is “Failure.” As scary as that term is in the world of compliance, “catastrophe” is even scarier. That means that the failure resulted is real, significant damage. But you can learn from failures. You can especially learn from others’ failures. In How to Avoid … Read more »
Failure and Compliance
The theme of the April edition of the Harvard Business Review is “Failure.” That’s a scary term in the world of compliance. Generally, that means you’ve got government regulators or enforcement personnel sitting in your offices. And they are not happy. Failure and compliance can mean disciplinary action, fines, or jail time. But you can … Read more »
The Monstrous Size of Dodd-Frank
“What is 20 times taller than the Statue of Liberty, 15 times longer than “Moby Dick” and would take the average reader more than a month to read, even if you hunkered down with it for 40 hours a week?” If you’ve been Dodd-Frank’ed, you know the answer. The last round of financial overhaul was … Read more »
Massachusetts Is Looking to Dodd-Frank Investment Advisers and Fund Managers
Just to keep you on your toes if you have less than $150 million under management, states are now filling in the gaps left by Dodd-Frank. If you are under that threshold, you lose the ability to register with SEC and now have to look to at being regulated at the state level. Massachusetts used … Read more »
Employment Opportunity – Senior Compliance Role
I occasionally get calls from people looking to hire compliance personnel. Here is the latest: Private Equity firm looking to expand its compliance team Senior compliance role reporting to the CCO Company is a prominent PE firm based in TX with a large office in San Francisco Knowledge of Investment Advisers Act essential Experience reviewing … Read more »
Compliance Bits and Pieces for April 29
Here are some recent compliance-related stories that caught my eye: SFO GC resigns: SFO future cast into further doubt in The Bribery Act .com We’re delighted to congratulate Vivian Robinson QC on his reported move today from the SFO to join a US law firm, Richmond Virginia headquartered McGuire Woods, in the near future. We’ve … Read more »
Risk Disclosures and Form ADV Part 2 for Fund Managers
If you’re a fund manager getting ready to register because you’ve been Dodd-Frank’ed, then you are likely in the middle of drafting Part 2 of Form ADV, the brochure. One item that caused my to pause was the risk factor requirements in Item 8. 8.B: For each significant investment strategy or method of analysis you … Read more »
The Case for Executive Assistants
Why would you pay managers big salaries and then ask them to make their own hotel reservations? Since it’s Administrative Professionals Day, a story in this month’s Harvard Business Review caught my eye: The Case for Executive Assistants. (Now looking at the Administrative Professionals’ website, I see it has grown from being mere a day … Read more »
Turning Your PowerPoint into an Advertisement
Once a fund manager is registered, Rule 206(4)-1 imposes additional restrictions on advertising that the SEC has determined would be fraudulent deceptive or manipulative. That means public presentations could be considered an advertisement. First I want to look back at the definition of an “advertisement” for purposes of the rule. An advertisement for purposes of … Read more »