Investment Industry Guidance

Update on Accounting for Equity Securities with Contractual Sale Restrictions

The Financial Accounting Standards Board recently issued Accounting Standards Update 2022-03, which amends Topic 820 (Fair Value Measurement) and helps clarify how entities should value and disclose investments in equity securities measured at fair value that are subject to a contractual sale restriction.View

The Top 3 Custody Rule Pitfalls We’ve Observed

Based on years of performing such surprise examinations, our team has identified three common Custody Rule pitfalls.View

Just When We Thought Carveouts Were Back

The SEC Marketing Rule will impose additional requirements surrounding carveouts and hypothetical performance that will be burdensome for advisors.View

Annual GIPS Compliance Notification Due Date is Approaching

Firms claiming GIPS compliance must submit their annual GIPS Compliance Notification Form by June 30.View

SEC's New Transparency Rules Target Private Fund Advisors

Two of the SEC's newly proposed rules target private fund advisors and include the Private Fund Audit Rule, Quarterly Statement Rule, Advisor-Led Secondaries Rule, Preferential Treatment Rule, and Prohibited Activities Rule.View

What You Need to Know About the New Schedules K-2 and K-3

With the 2021 tax filing season well underway, there has been uncertainty and controversy surrounding the IRS’s new schedules K-2 and K-3.View

Beware of the SEC When It Comes to GIPS Claims of Compliance

While the SEC didn't develop the GIPS Standards, it will take action against investment advisors that falsely claim compliance or omit key disclosures.View

Recent SEC Rule Proposal Changes and Additions

On February 9, 2022, the SEC proposed new rules and amendments that will have an impact on investment advisors, funds, and what is received by certain investors.View

Risk Alert from Examinations of Private Fund Advisors

On June 23, 2020, the SEC’s Divisions of Examinations published a Risk Alert detailing observations of registered investment advisors that manage private funds.View

SEC Proposes Private Fund Reporting Changes

On January 26, 2022 the SEC proposed amendments to Form PF which would require reporting of certain events as well as lower the threshold for large private equity advisers.View