Securities

Recent Posts

Private Equity Portfolio Companies and Bribery Charges
Posted on 4 Jan 2011 by Doug Cornelius

The U.S. is investigating Allianz SE, for possible bribery by a German printing press company in which it holds a majority stake according to a story by Joe Palazzolo in WSJ.com's Corruption Currents . The Foreign Corrupt Practices Act bars... Read More

Europe’s New Directive on Alternative Investment Fund Management
Posted on 15 Nov 2010 by Doug Cornelius

The European Parliament has approved the Directive on Alternative Investment Fund Managers. European countries will now be setting up a framework for regulating hedge funds and private equity funds. The AIRM Directive passed with 513 votes to 92 with... Read More

The SEC Wants to Know If You Are Systemically Important
Posted on 31 Jan 2011 by Doug Cornelius

The Securities and Exchange Commission proposed a new rule that would require advisers to private funds to report information for use by the Financial Stability Oversight Council in monitoring risk to the U.S. financial system. Sections 404 and 406... Read More

The US Private Equity Fund Compliance Guide
Posted on 23 Nov 2010 by Doug Cornelius

One of the struggles with implementing a compliance program for a private equity fund is that the Investment Advisers Act is targeted at retail operations dealing with relatively liquid investments. Neither fits well with the private equity model of... Read More

US Private Equity Fund Compliance Companion
Posted on 9 Jan 2012 by Doug Cornelius

If you are looking for a good guide to help your private equity compliance program, PEI Media's US Private Equity Fund Compliance Guide is a good place to start. There have been a few changes since its publication in 2010. PEI Media has just published... Read More

SEC Sanctions KKR Over Fee Allocations
Posted on 1 Jul 2015 by Thomas O. Gorman

The SEC filed its first action involving a private equity fund and broken deal expenses. By the time the Commission discovered the question the firm realized it did not have a disclosure policy, retained a consultant to study the issue and adopted a policy... Read More

SEC Settles With Blackstone on Disclosure Issues
Posted on 8 Oct 2015 by Thomas O. Gorman

The SEC’s Asset Management Unit continues to review and analyze fees, expenses and the related disclosure at private equity firms. The Unit has encouraged advisers to self-report these issues. The most recent action emanating from the review involves... Read More

The SEC is Looking at Advisers’ Use of Social Media
Posted on 22 Feb 2011 by Doug Cornelius

According to a story in Investment News , the Securities and Exchange Commission began a sweep of investment advisers' use of social media and social networking last month. The story has a quote from Doug Flynn, an adviser at Flynn Zito Capital... Read More

Private Equity and the FCPA
Posted on 3 Jan 2011 by Thomas Fox

In a Wall Street Journal (WSJ) article on December 22, 2010 by Joe Palazzolo, he reported that the Securities and Exchange Commission (SEC) is investigating Europe's largest insurer, Allianz SE, for possible bribery by a German printing press... Read More