The Chief of the Asset Management Unit in SEC Enforcement gave a speech on January 23, 2013 concerning their initiatives directed at private equity. The areas of concern discussed included valuation, insider trading and conflicts of interest that can lead to misappropriation, deal cherry-picking and other areas of misconduct. The SEC appears to have developed a level of expertise in the private equity space that was absent when registration requirements were introduced. The speech also outlined various cases the SEC has brought against private equity firms and other private fund firms that had similar issues. To read the full speech please click here.
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Red Oak Compliance Solutions is the global advertising review software of choice in the financial services industry. It is a comprehensive suite of SEC 17A-4 compliant features that are 100% books and records compliant and provides clients with 35% faster approvals and 70% fewer touches or better. We also offer Smart Review(SM), which solves for the storage and maintenance of disclosures, helping firms reduce risk, decrease review times, and increase the speed of distribution of marketing materials. Smart Registration(SM) automates the licensing and registration management process to help reduce regulatory risk and time spent on manual processes. Overall, Red Oak allows firms to minimize risk, reduce costs, and increase compliance review process effectiveness and efficiencies.