This year, private investment funds are likely to face increased regulatory scrutiny and litigation risk. This is due to several market developments, including transparency and compliance initiatives of limited partners. There are several areas that should be on every private fund sponsor’s list. Fees and expenses will continue to be a top priority for the … Continue Reading
On January 11, 2016, the staff of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) released its annual announcement on examination priorities in the coming calendar year. While the announcement contains broad and general descriptions of areas in which the staff intends to focus, there are several key … Continue Reading
In November 2015, the SEC announced that it had reached a settlement with Cherokee Investment Partners, LLC and Cherokee Advisers, LLC, in connection with improperly allocating managers’ regulatory expenses to three funds they managed. Through this and similar actions, the SEC has clearly indicated the managers may assign to the funds they manage only those … Continue Reading
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