Compliance expert Amy Lynch on the SEC’s exam road map (InvestmentNews)

A recent risk alert issued by the SEC offers details on its criteria for selecting investment advisers for an examination. FrontLine Compliance Founder and President Amy Lynch is exclusively quoted in the InvestmentNews story covering the alert. Ms. Lynch discusses how the SEC provides a roadmap for investment advisers by describing how it decides which firms to examine, the compliance areas it will focus on and the documents it will request. She comments that the…

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Third-party opinion component adds complexity to new private fund rule (PitchBook)

The SEC’s new private fund rule requires managers to seek a third-party perspective when conducting GP-led secondary offerings. The new rule mandates obtaining either a fairness opinion or a valuation letter from an outside party to address any conflicts of interest and validate pricing in deals. The SEC added the valuation letter option to the rule, a more informal and familiar method in private market transactions, as opposed to fairness opinions that are more common…

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