PF Rules & Regulatory Actions

QVR received audit opinions for the Funds on March 31, 2021. However, QVR did not update or revise its Form ADV until its next annual ...

Polaris purported to rely on the Audited Financials Alternative in order to comply with the custody rule, but Polaris failed to timely deliver the audited ...

Janus failed to timely deliver the audited financials to approximately 10% of the Best Ideas Fund’s investors in 2018, 2019, and 2020

Titan received an audit opinion for TD I on August 13, 2019. However, Titan did not update or revise its Form ADV until January 10, ...

In 2018, 2019, 2020, and 2021, with respect to the Real Estate Fund and Opportunity Fund, Steward purported to rely on the Audited Financials Alternative ...

Garrison failed to timely deliver the audited financials to Ethika’s investors

Perceptive omitted to disclose that Perceptive personnel shared ownership of the SPAC sponsors



"ECP should not have allocated to Fund III more than its proportional share of such expenses"

[W]e are of the view that greater transparency and more robust investor protections could assist investors in evaluating and making investment, voting, and redemption decisions ...