Doug Cornelius on compliance for private equity real estate
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 »
These are some of the compliance-related stories that recently caught my attention. The Shift from Active to Passive Investing: Potential Risks to Financial Stability? by Patrick McCabe, Board of Governors of the Federal Reserve System In our working paper, we examine four channels by which the active-to-passive shift may affect financial stability: (1) effects on liquidity … Read more »
Last month, I wrote about the complaint filed by Securities and Exchange Commission against Reginald Ringgold and his Blockvest initial coin offering. One of the Blockvest’s marketing ploys was to note its membership in the Blockchain Exchange Commission. The SEC managed to obtain an emergency court order to halt a planned initial coin offering of … Read more »
Some do, and it backfires. In a working paper by Gregory W. Brown, Oleg R. Gredil, and Steven N. Kaplan they studied cash flows and NAV reports for a sample of 2,071 buyout and venture funds. The study was motivated by the potential incentive for fund managers to exaggerate performance to attract investors to a … Read more »
While I was preparing for Thanksgiving on Wednesday, the Securities and Exchange Commission put 43 of its rules on the chopping block. As you know, it’s not so simple to just eliminate a rule. Eliminating a rule is itself a rulemaking, requiring notice and comment periods. Of course, the SEC would also need to justify … Read more »
Thank you for taking the time to read Compliance Building. I’m grateful to meet, chat and correspond with so many of you in the compliance community. I hope you get to enjoy a long weekend to reflect and spend time, with friends, family, neighbors and loved-ones. Read more »
The Financial Crimes Enforcement Network announced the issuance of revised Geographic Targeting Orders. The threshold for reporting has been reduced down to $300,000 for all-cash purchases of residential real estate. The geographic scope has been expanded to now include nine cities: Boston; Chicago; Dallas-Fort Worth; Honolulu; Las Vegas; Los Angeles; Miami; New York City; San Antonio; … Read more »
These are some of the compliance-related stories that recently caught my attention. Little bits to grow your building knowledge base. Steve Cohen Will Pay Extra for Compliance Tips by Matt Levine How did this happen, you might well ask. There are some obvious answers. For one thing, a culture of compliance at Point72 really might … Read more »
The SEC’s Office of Compliance Inspections and Examinations has issued a risk alert announcing its intention to conduct a series of examination initiatives focused on issues affecting certain registered investment companies and investment advisers. According to the Risk Alert, examiners have six initiatives: Index funds that track custom-built indexes Smaller ETFs and/or ETFs with little secondary … Read more »
Stan Lee, the legendary writer and publisher of Marvel comics who helped created countless superheroes, has died. He was 95. On his own and through his work with collaborators Jack Kirby, Steve Ditko, Bill Everett. and others, Mr. Lee created Spider-Man, the X-Men, the Mighty Thor, Black Panther, Iron Man, the Fantastic Four, the Incredible Hulk, … Read more »