Investment Industry Guidance

Certain Smaller Broker-Dealers Have Opportunity to Extend Filing Deadline of Annual Reports

On February 12, 2021, the SEC issued an order that extends the filing deadline for annual audit and related reports an additional 30 days for smaller broker-dealers that meet certain conditions.View

SEC Modernizes the Accredited Investor Definition

On August 26, 2020, the SEC adopted amendments to its "accredited investor" definition in an effort to expand investment opportunities while maintaining appropriate investor protections.View

Are Your GIPS Policies and Procedures Up-To-Date in Advance of GIPS 2020?

As we draw near the December 31, 2020 adoption date for GIPS 2020, it is important for firms to review the updated standards to determine whether any changes should be made to their existing policies and procedures to remain compliant.View

Error Correction and Materiality Under GIPS 2020

The error correction rules for firms under GIPS 2020 seem pretty straightforward, except for one item: how to determine whether an error is material.View

Operational Due Diligence During a Pandemic

As COVID-19 continues to present new challenges, so too must operational due diligence professionals adapt, developing new policies and procedures to ensure non-investment risks are addressed.View

Hedge Funds and Private Equity Firms Unable to Participate in PPP Loan Program

Hedge funds and private equity firms will be unable to take advantage of PPP loans.View

OCIE 2020 Cybersecurity and Resiliency Observations

On January 27, 2020, OCIE released a 13-page report detailing observations relating to cybersecurity and best practices.View

OCIE 2020 Examination Priorities

On January 7, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) announced its 2020 Examination Priorities. Compliance continues to be a major focus.View

GIPS 2020 Changes Carve-Out Standards

With the release of GIPS 2020 came another change to the standards on carve-outs, marking the second time in which the guidance has changed.View

The Impact of GIPS 2020 on Pooled Fund Managers

One of the most extensive changes from prior GIPS versions is the treatment of pooled investment funds. Here are four key changes impacting firms that manage pooled vehicles.View