It’s back! Billions kicked off Season 3, Episode 1 with the intellectual prowess that we’ve all come to expect. Hedge fund king Bobby “Axe” Axelrod continues to be on the defense for potential violations of federal securities laws. Axe and…
When the SEC released its list of exam priorities for 2018, no one was surprised to learn that one of last year’s themes concerning the protection of retail investors (and by extension, aging investors) continues into 2018. To quote the…
For private equity advisers, how to market a private equity fund in compliance with SEC rules should be a major focus area. Unlike hedge funds (which are usually evergreen), private equity funds have finite investment period and lifespans, and fund…
When you’re faced with the SEC or a FINRA hearing, whether in court, an arbitration, or a hearing due to regulatory action being taken against you or your firm, you’ll probably be considering bringing on an expert witness to…
The SEC’s pay-to-play rule is more relevant than ever before in today’s politically charged climate. As the management of government client assets is widespread in the realm of private equity, whether a private equity adviser is seeking its first…
With the filing deadline for Form ADV just around the corner for most firms, it’s worth revisiting some of the most material amendments to the form as they apply to private equity firms. If you haven’t already begun collecting…
FINRA expungement has been, and continues to be, a topic of intense discussion. We’ve discussed expungement in regard to customer complaints, as well as intra-industry issues, in just the past year. This continuation on the theme concerns a FINRA…
It happens to every investment adviser, sooner or later. All the documentation you maintain, all the policies and procedures you put in place, it all goes under the microscope eventually. The SEC, FINRA, and the State all conduct regulatory…
Growing older is something that every single one of us does. It’s a simple fact of life that we will all age with time. Those who advise aging clients may be among those that are the most acutely aware…
On the surface, a Form U5 seems straightforward. Direct from FINRA’s general instructions, it’s the uniform termination notice for securities industry registration. A firm must file a Form U5 anytime one of its registered employees leaves the firm. The…