Doug Cornelius on compliance for private equity real estate
Scott M. Landress sponsored funds to invest in real estate private equity secondary transactions in 2006. When one of the funds got into trouble, Landress asked for additional fees. The fund advisory board said no. Landress later charged unauthorized fees for services provided by an affiliate. SLRA’s fund management fee was based on the net … Read more »
These are some of the compliance-related stories that recently caught my attention. WHY SHOULD I GIVE A %$#@! ABOUT OVERSEAS BRIBERY? by Matt Kelly in the FCPA Blog This is on my mind thanks to a recent column in the legal blog Above the Law, “Is Trump the End of FCPA Enforcement?” The author, … Read more »
It seems like just a week ago that President Donald Trump signed an Executive Order requiring two regulations be repealed for every new one adopted. It was. And this week a lawsuit has been filed challenging that executive order. The lawsuit was filed by Public Citizen, the Natural Resources Defense Council and the Communications Workers of … Read more »
The SEC’s Office of Compliance Inspections and Examinations published a list of the five compliance topics most frequently identified in deficiency letters that were sent to SEC-registered investment advisers. The five are actually the bulk of advisor compliance requirements. It’s the examples in the five topics that are the most useful indicators. Compliance Rule Compliance … Read more »
Although is questionable whether the Securities and Exchange Commission is subject to President Trump’s executive order calling for a reduction in the number of regulations, the SEC seems to be taking it to heart. Last week, Congress started the push to roll back the Extraction Disclosure Rule. This week, the SEC is looking to roll … Read more »
It’s tough thinking about compliance this morning after staying up to watch the greatest comeback in Super Bowl history by one of the greatest quarterbacks, orchestrated by one of the greatest coaches. I reflect back humbly. I grew up with the red-uniformed Patsies. I remember the 1 and 2 win seasons. I remember the years … Read more »
Dodd-Frank made the Securities and Exchange Commission create a rule on the disclosure of payments by resource extraction issuers. The SEC finally got the rule out this fall. Now Congress is threatening to abolish the rule. Section 1504 of the Dodd-Frank Act directed the Securities and Exchange Commission to “issue final rules that require each … Read more »
Justice Scalia died last year and replacing his position has been held up by partisan politics ever since. President Trump has made his pick, federal appeals court judge Neil Gorsuch from the 10th Circuit, and the confirmation battle has begun. Being very liberal on social issues, I’m disappointed that the Senate chose not consider President … Read more »
Prior to his inauguration, President Trump promised a 75% reduction in regulations. I was left scratching my head about what he meant. Did he want the Code of Federal Regulation to be 75% shorter? How do you decide where one regulation begins and another starts? What about statutes enacted by Congress that specifically mandate the … Read more »
Last week, the Trump Organization kicked off its compliance program by making two appointments. Bobby Burchfield will be independent ethics adviser. He’ll be responsible for signing off on transactions that could raise ethics or conflicts of interest concerns. George Sorial will become chief compliance counsel. In the January 11 press conference, Sheri Dillon announced: [T]o … Read more »