Yes, for private investment funds, the general partner is generally considered an investment adviser under the Investment Adviser Act. Let’s start with the definition of an investment adviser from the Investment Advisers Act: “any person who, for compensation, engages in the business of advising others, either directly or through publications or writings, as to the … Read more »
Voting and Compliance
The midterm elections are upon us, which means you get to vote for your next congressman and about a 1/3 of the senators are up for election and most of you get to vote for your senator. Don’t forget the state and local elections. In many states that means employers must allow their employees to … Read more »
Legal Enterprise 2.0 Success Story
Penny Edwards of Headshift shares a Legal Enterprise 2.0 Success Story. Matthew Arnold & Baldwin LLP, a regional firm in the United Kingdom, put the firm’s intranet, “The Cube”, up for the Law Society’s Excellence in Innovation Awards. The firm came away with a Shortlisted Award. The Cube is Matthew Arnold & Baldwin LLP’s adoption … Read more »
Investment Advisers and Business Continuity Plans
When an investment adviser is designing its policies and procedures you need to identify the risks for their firm so they address those risks. A big risk is missing an applicable requirement under the regulatory scheme. So you sit down with the regulations and tie them to your specific policies and procedures. An easy one … Read more »
Jim Cramer’s Sound Board
From CNBC’s Mad Money: We’ve Recreated Cramer’s Official Soundboard! Fun for any Mad Money fan, you can enjoy all the great sounds on Cramer’s board. Boo-Yah! Yes, the buttons make sounds. Read more »
Compliance Bits and Pieces for October 29
These are some recent compliance-related stories that caught my eye: Take A Seat, and Other Bribes by Scott Greenfield in Simple Justice And if you don’t think the FCPA matters to you, who do you think it paying the many millions of dollars forked over to lawyers and government, not to mention the opportunity costs … Read more »
Coffee and Compliance
I just sat down with a fresh cup of coffee from Green Mountain Coffee Keurig brewer. The smell of coffee mixed with stench of compliance failures coming from Green Mountain Coffee Roasters, Inc. You know there is trouble when Sam Antar, the convicted felon and criminal CFO of Crazy Eddie, has you in his sights. … Read more »
The LexisNexis Top 25 Business Law Blogs of 2010
In a clear case of voting error, LexisNexis decided to include Compliance Building in the LexisNexis Top 25 Business Law Blogs of 2010. I’m regular reader of most of those 25 blogs and think they’re wonderful. I’m happy to be included with such great content sites. For some reason, LexisNexis is not satisfied with just … Read more »
More Information on the Custody Rule
With the removal of the 15 client rule exemption from registration with the SEC, many private funds are going to have to comply the custody rule Rule 206(4)-2. Private equity firms will have the most problems trying to meets the demands of the rule. The SEC is trying to help. They updated the Staff Responses … Read more »
Lawyers and Corruption Laws
In April 2010, the International Bar Association, the Organisation for Economic Co-operation and Development and the United Nations Office on Drugs and Crime, launched the Anti-Corruption Strategy for the Legal Profession. The project is focusing on the role lawyers play in fighting corruption in international business transactions. Nearly half of all respondents recognized corruption to … Read more »