Internal Control Oversights Charged to Trans-Atlantic Hedge Fund-Holding Company Partnership by SEC
In yet another case of negligence in regulatory internal controls, the Securities and Exchange Commission (SEC) sanctioned GLG Partners L.P., a UK-based hedge fund adviser, and its US-based holding company, GLG Partners Inc., with failure to implement the “proper controls” … Read More
Risk Management Update Profile – Federal and State Regulations Governing Investment Adviser Privacy Safeguards
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a currently relevant topic in compliance, securities, and investment … Read More
SEC Elaborates on Issue of Qualified Client Statuses of Specific Private Investors
At the start of November 2013, the Securities and Exchange Commission’s (SEC) Investment Management Division released a Guidance Statement to address certain inquiries regarding the determination of the “qualified client” status under Rule 205-3 of the Investment Adviser’s Act of … Read More
The Complicated Regulatory Position of Proxy Advisory Firms for Investment Advisers
At the start of September 2013, computer giant Dell Inc. released a series of findings made by three US proxy advisory firms – Institutional Shareholder Services (ISS), Glass Lewis, and Egan Jones – recommending Dell shareholders to support a proposed … Read More
Core Compliance Risk Management Update Profile: Alternative Mutual Funds
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a currently relevant topic in compliance, securities, and investment … Read More
Business Continuity and Disaster Recovery Plans Focused in New SEC Risk Alert
August 27, 2013: A new Risk Alert released by the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (OCIE) details new considerations for investment advisers in establishing business continuity plans (BCPs) and disaster recovery plans. Focusing specifically … Read More
Senators Seek DOL Rule Delay to Mitigate Potential Conflict in Rules on Investment Advice
A delay in a new rule proposed by the Department of Labor (DOL) regarding investment advice for retirement plans is being pursued by a group of Democratic Senators, who argue that the proposed rule may clash with a prospective proposal … Read More
