ComplianceAlert

Exam Initiative Underway by OCIE

Last week, the Office of Compliance Inspections and Examinations (OCIE) announced new targeted exams of registered investment companies and advisers with specific types of investment activity. Specifically, exams will cover the following types of funds and activities: Index funds with custom indices Small ETFs and ETFs with limited trading volume Mutual funds investing in securitized assets Funds with poor performance relative to peers Advisers new to fund management Advisers managing both mutual funds and private…

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ComplianceAlert

OCIE Issues Risk Alert on Adviser Cash Solicitation Rule

The SEC, a sleeping giant for most of 2018, has suddenly awoken. It’s most recent activity has come in the form of a National Exam Program Risk Alert (“the Alert”). The Alert targets registered investment advisers and focuses on Rule 206(4)-3, the Cash Solicitation Rule (“the Rule”). SEC’s OCIE based its Alert on findings from its investment adviser examinations that took place over the past three years. Rule 206(4)-3 requirements typically affect retail advisers or…

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FrontLine named to list of top hedge fund compliance experts for 5th consecutive year (Hedge Fund Alert – Subscription Req’d)

The recently released annual listing of compliance consultants again includes FrontLine Compliance as a leading firm offering compliance support and assistance to hedge funds. The listing highlights our successful track record of client SEC Exams resulting in no material findings, our 90 percent plus client renewal rate, and our team of seasoned compliance experts that include former SEC regulators and hedge fund CCOs. See Hedge Fund Alert (subscription required), “Compliance Consultants,” October 24, 2018.…

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