SEC Regulation

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As part of their research process, investment managers gather information from a wide variety of sources. Those sources include: (i) executives and employees of public companies; (ii) competitors; (iii) distributors and suppliers; (iv) sell-side analysts; (v) expert networks; (vi) employees of other investment managers; and (vii) other industry contacts (Information Resources). For some advisers, access…

Cybersecurity continues to be a priority for the Securities and Exchange Commission. The SEC’s Office of Compliance Inspections and Examinations conducted a cybersecurity “sweep” examination in 2014 and released a summary of its results in early 2015. The SEC’s Division of Investment Management — which regulates investment companies and investment advisers — has now issued…

On Feb. 27, 2015, the Commodity Futures Trading Commission, Federal Deposit Insurance Corporation, Board of Governors of the Federal Reserve System, Office of the Comptroller of the Currency, and Securities and Exchange Commission (collectively, the “Agencies”) published a new FAQ on the Agencies’ rule promulgated under Section 619 of the Dodd-Frank Wall Street Reform and…

Earlier this week, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert providing observations derived from its “Cybersecurity Examination Initiative,” which was announced on April 15, 2014. The Risk Alert is based on OCIE’s examinations of the cybersecurity policies and practices of 57 registered broker-dealers and 49 registered investment advisers. While…

SRZ attorneys answer frequently asked questions by hedge fund managers in three new SRZ Insights videos. SRZ partners Jennifer Dunn, David J. Efron, Daniel F. Hunter and Omoz Osayimwese share their answers to key questions relating to advertising winning trades and running a private equity and hedge fund side-by-side.

To view the videos,…

Private investment funds today face layers of regulation from regulatory bodies in different jurisdictions. Many of these regulators work in coordination with each other and, as a result, private funds may find themselves facing simultaneous inquiries, investigations or enforcement actions involving multiple regulators.

In a recent chapter, published in Private Equity International’s Private Fund Dispute …

SRZ’s video series highlighting the importance of the SEC’s annual review for fund managers features insights from regulatory & compliance partners Marc E. Elovitz and Brian T. Daly and special counsel Brad L. Caswell. The six videos cover key areas of the annual review, including the importance of timing, assessing risk areas and meeting…

Schulte Roth & Zabel has partnered with Private Equity International to release Fund Formation and Incentives Report, a research study of senior private equity managers. The report provides an analysis of the issues affecting general partner operations, such as waterfall structures, key man clauses, compensation and recruitment. Based on an online survey and in-depth…

The United States and others have imposed economic sanctions and issued anti-money laundering advisories in the wake of the growing political tensions between the United States and Russia over the fate of Ukraine. Click here for a summary of the actions taken by authorities to date and discusses compliance implications for investment funds. Fund managers…

The U.S. Securities and Exchange Commission recently released guidance on two matters involving “knowledgeable employees” and broker-dealer registration that are relevant to many private fund managers. These communications represent SEC responses to requests for guidance and relief from a number of constituencies, including the private fund manager community.

Click here to read more about the…