Doug Cornelius on compliance for private equity real estate
The Securities and Exchange Commission launched a new tool to help with investor protection: The SEC Action Lookup for Individuals – or SALI. (Is it pronounced “sally”?) SALI is a database of individuals who (1) have been parties to past SEC enforcement actions and against whom federal courts have entered judgments or (2) the SEC has … Read more »
Private Equity Real Estate has released its ranking of the top 50 real estate private equity fund managers. As I have done in the past, I parsed the list to see which managers are registered with the Securities and Exchange Commission as investment advisers. 1 Registered Blackstone 2 Registered Brookfield 3 Registered Starwood Capital Group 4 Registered … Read more »
Yesterday I pointed out the fiduciary duty obligations laid out in the SEC’s new release. The other half of the release is a request for comment on three new proposals to enhance investment adviser regulation. Federal Licensing and Continuing Education Provision of Account Statements Financial Responsibility The SEC notes these as areas where the broker-dealer … Read more »
Of the trio of regulatory releases from the Securities and Exchange Commission last week, the one targeted at registered investment advisers is a little weird. It sets out the fiduciary duty of investment advisers, sort of, and proposes some new regulations. One of the problems with the fiduciary duty is that it is not explicitly … Read more »
One of the challenges that consumers face when dealing with a financial adviser is what it means to be a “financial adviser.” The terms financial planner, wealth consultant, stockbroker, investment adviser, financial consultant, and others get thrown around, leaving you how that person gets paid for helping you with your money. The Securities and Exchange … Read more »
Last week, the SEC’s office of Compliance Inspections and Examinations released a risk alert on Most Frequent Advisory Fee and Expense Compliance Issues Identified in Examinations of Investment Advisers. It was a bit shocking. Shocking mostly because the issues are mostly mechanical procedural errors that were contrary to the investment advisory agreement: Using a different … Read more »
The Redcoats are coming! The Redcoats are coming! Patriots’ Day is a Massachusetts state holiday commemorating the opening battles of the American Revolutionary War in Lexington and Concord in April, 1775. In the morning there is a battle reenactment on the Lexington Green of the early-morning engagement between the town’s militia and the British regulars. … Read more »
I try to keep looking for ways to interact with my kids in new ways. My son loves reading about military history, so I though I would add a book on that topic to my reading list. Reading it together would give us more things to talk about. Oxford University Press was kind enough to … Read more »
These are some of the compliance-related stories that recently caught my attention. IA Arrested On Bail For Continuing Fraudulent Scheme by T. Gorman in SEC Actions A focus of a typical bail hearing is flight risk – is the person charged likely to return for the pending court proceedings and face the charges. Recently, a … Read more »
I didn’t manage to get down to Washington DC to be there in person, but I’ve been watching the webcast of the Compliance Outreach Program National Seminar 2018 For Investment Adviser and Investment Company Senior Officers this morning. This is the agenda and my notes so far. Introductory Remarks from SEC Directors Speakers: Dalia Blass, … Read more »