Research & Articles
Research performed and published by SEC3 professionals
SEC Chicago Letter - A precursor for private funds
The SEC seems to be initiating a trend and "pre-screening" managers. An April document request letter to a number of Chicago based advisers offers some insight into this trend. This scaled-down document request shows that the SEC is trying to cover more ground in less time. This trend should be of interest to unregistered private fund managers regarding what they can expect once registered - ensure your ADV Part II, offering documents and promotional materials are consistent and compliant.
Read more: SEC Chicago Letter - A precursor for private funds
Guide to SEC Registration of Private Funds
Private Fund Adviser Registration - A white paper prepared by SEC3 describing the SEC registration process for hedge funds and private equity funds pursuant to the Private Fund Investment Advisers Registration Act of 2010.
Whats on the SEC's Radar - Top Ten
This past July the SEC published a Compliance Alert summarizing issues found during recent examinations. The following ten discussion items address the top areas addressed by SEC staff in speeches and not surprisingly, the top areas reviewed during SEC examinations.
Decoding Compliance Buzzwords:The Practical Application of Risk Assessment & Forensic Testing
Risk assessment is a phrase used to describe the process of identifying and estimating the exposure to real and potential risks. Forensic testing is colorful shorthand to refer to periodic tests used to evaluate the effectiveness of controls. However, the application of these notions goes beyond the simple definitions since risk assessment and forensic testing are pillars for a sound compliance program.