2/6/2012
It's taken a year but OCIE has finally finished its national exam manual. But don't look for it to be released publicly until after regional offices get a chance to comment on it (IA Watch, March 21, 2011).That's the word out of the SEC's Compliance Outreach meeting in Washington on Jan. 31. In addi ...
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2/6/2012
If you count your firm among the estimated 3,200 RIAs that must shimmy over to state registration by July, you're advised to find out what your state demands because the documents can vary greatly from the SEC's list.For example, some states want to see your written supervisory procedures. Others de ...
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2/6/2012
The sudden dismissal of the Commission's case against Ted Urban, the former general counsel at Ferris Baker Watts in Baltimore, surprised even the defendant, came wrapped in mystery as three commissioners recused themselves (including two who had supported the original charges) and disappointed thos ...
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2/6/2012
If you're struggling over your firm's regulatory assets under management (RAUM), you're not alone in tabulating in doubt. The SEC promises to soon release frequently-asked-questions for RAUM as well as Form PF.In the meantime, "follow the accounting on your balance sheet," recommends Bob Plaze, depu ...
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2/6/2012
Those Mississippi law students behind the nascent adviser SRO SROIIA (IA Watch, March 14, 2011) have been busy. On their website, they have produced a national map that allows the user to click on any state and open up its rules related to advisers, adviser reps, examination waivers and its de mini ...
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1/30/2012
Book some time to go through the new Form ADV, Part 1 of TPG Global Advisors ($54B in AUM), the newly registered private equity adviser based in Fort Worth, Texas. Its form runs more than 1,300 pages, inflated by answering new Schedule D questions about its private funds.TPG lists nearly 160 private ...
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1/30/2012
That wind you hear may be the collective sigh of relief from advisers concerned this year's rush of registration for new advisers would force special purpose vehicles (SPVs) affiliated with an adviser to file their own Form ADVs. In a new no-action letter, the SEC hands the industry what it's yearne ...
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1/30/2012
The SEC seems to be sending a lot of messages to the industry recently and the latest example involves a portfolio manager charged with failing to follow her firm's policies and procedures for valuing assets.You may recall the troubles surrounding Evergreen Investment Management Company, a now-defun ...
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1/30/2012
In-laws may be family members but they don't qualify as family clients under the SEC's 2011 final rule on what qualifies a family office from being excluded from Advisers Act registration, according to new frequently asked questions released by the Commission.The 13 Q&As posted on the SEC website th ...
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1/30/2012
Other trade press created some confusion recently by erroneously reporting the effective date of a new Department of Labor rule. Let IA Watch clear up their mistake by providing this primer on four key ERISA rules impacting some advisory firms. We asked the Labor Department to tell us where these ru ...
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