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The weekly news source for investment management legal and compliance professionals

August 22, 2016

This Week's Issue

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Private Equity Adviser Exams: Fees and Expenses Likely to Dominate the Visit

Advisers to private equity funds preparing for a visit from SEC examiners need to keep their eye on the ball: While examiners may inquire into a number of areas, the bulk of the visit is likely to be spent on the fees and expenses charged to funds and portfolio companies.
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SEC Wins Key Round in Administrative Hearings Battle

A three-judge appellate court panelís decision this month to dismiss a challenge to the SECís use of administrative law judges is the latest development in the ongoing dispute between the Commission and a coalition of advisers, defense attorneys and others that want to at least curtail the agencyís use of ALJs. But this most likely is not the end of the game.
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FINRA Proposes Raising Gift Limit

Twenty-four years may seem like a long time to some, but apparently not to FINRA, which this month proposed increasing its limit on gifts provided by broker-dealers from $100 to $175 to account for inflation. Itís the first such increase in the gift limit since 1992.
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