Doug Cornelius on compliance for private equity real estate
There were massive problems at the schools in Atlanta. Funding problems choked schools from needed capital investments and programming dollars. There was pressure to perform well on standardized tests under the No Child Left Behind Law, with fewer resources. That pressure was too much for some principals and school teachers. They cheated and changed answers … Read more »
The Institutional Limited Partners Association and 35 of its member institutions sent a letter to the Securities and Exchange Commission pushing for stronger regulations on private equity advisory firms. ILPA is asking the SEC to make 7 changes. Rescind the Heitman Capital Management No-Action Letter, issued in 2007. SEC enforcement settlements with private fund advisers … Read more »
These are some of the compliance related stories that recently caught my attention: Cybercriminals Have Your Business In Their Crosshairs And Your Employees Are In Cahoots With Them by Ivy Walker So how are your employees in cahoots with cyber attackers? Because the number one way hackers gain access to small business networks is when … Read more »
The Economic Growth, Regulatory Relief, and Consumer Protection Act, enacted on May 24, 2018, amended the Bank Holding Company Act by modifying the definition of “banking entity” to exclude certain small banks from the Volcker Rule’s restrictions and permitting a banking entity to share a name with a hedge fund or private equity fund that … Read more »
As a New England Patriots Fan from the 1970s, it’s hard to imagine the current success of the franchise. The stadium was one of the worst in the NFL. Home games were rarely televised because the games didn’t sell out. When the Patriots finally made it to the Super Bowl they lost in the most … Read more »
Joseph A. Meyer, Jr., and his Statim Holdings, Inc. offered investors in its Arjun private fund that investors would not lose money. The catch is that you can’t redeem from the fund for ten years or you forfeit 1/2 of your capital. Of course the real catch is that Meyer a fraud. (At least according … Read more »
Perhaps the Securities and Exchange Commission saw the government shutdown coming when it published its 2019 exam priorities on December 20. Compliance and Risks in Critical Market Infrastructure – Examiners will focus on entities that provide services critical to the proper functioning of capital markets, including clearing agencies, national securities exchanges, and transfer agents FINRA … Read more »
With the Securities and Exchange Commission back up and running, we are seeing new enforcement actions coming out. A real estate fraud caught my attention. The SEC charged Phillip Michael Carter, Bobby Eugene Guess and Richard Tilford with raising almost $45 million from over 270 investors by selling short-term, high-yield promissory notes issued by shell … Read more »
These are a few of the compliance related stories that recently caught my attention. Why The SEC Shutdown Must End (Now) by John Reed Stark It is not surprising that the SEC has only filed one civil action in federal court since the shutdown began, which was a parallel action brought alongside the U.S. Attorney’s Office for … Read more »
These are some compliance-related stories that recently caught my attention: SEC Brings Enforcement Action for Failure to Verify Accredited Investor Status by Steve Quinlivan The SEC alleged CoinAlpha did not have pre-existing substantive relationships with nine of the fund’s investors and engaged in a general solicitation of public interest in the securities offering through CoinAlpha’s website, which … Read more »