Private Funds

In the wake of the most sweeping regulations since the financial crisis, Gensler was grilled this week by members of the Senate’s Banking, Housing and ...

This final rule creates six new Advisers Act rules and modifies two others and becomes effective Nov. 13, 2023

Notice puts industry on the clock

First compliance deadlines take effect 60 days from Sept. 14

'The clock is ticking'

Compliance may not be a check-the-box exercise anymore, but you've still got to check the boxes

The adviser failed to distribute required audited financials

The audits were completed pursuant to the International Standards on Auditing, not U.S. GAAS requirements; and the auditor was not registered with the PCAOB, resulting ...

The adviser purported to rely on the exception to the qualified custodian requirement but did not obtain an audit of each of the Funds and ...

The firm also did not properly describe the status of its fund’s financial statement audits when filing its Forms ADV and did not update certain ...