Aggregated News From Investment Management Regulators

Key Take-Aways from OCIE’s Recent Alert on Compliance Issues Observed in Examinations of Private Fund Managers

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On June 23rd, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (the SEC or Commission) released its findings of frequent compliance issues observed by OCIE staff in its regular examinations of registered investment advisers that serve as managers to private funds, including private equity and hedge funds (the Alert). OCIE staff highlighted that the issues identified in their examinations of private funds have broad implications for investors, given that more than 36% of SEC-registered investment advisers act as managers to one or more private funds. These issues, if not proactively considered and addressed, can lead to enforcement referrals stemming from an OCIE exam. Consequently, registered investment advisers should consider their compliance and surveillance processes and procedures in light of these issues, and take affirmative steps to determine whether enhancements should be implemented.

Read the full article from Arnold & Porter here: https://www.arnoldporter.com/en/perspectives/publications/2020/07/key-take-aways-from-ocies-recent-alert

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