Regulatory Compliance Association Reviews

SEC & NFA Examination Readiness

Practice Edge 02

Date: December 13, 2016
General Session: 12 Noon to 1:30 PM HKT
Location: Webcast (Free)

Interested in Continuing Compliance Education™, CLE or CPE (A & A hours)? Attend via the RCA’s Online University (On Demand) — free for Practice Edge Elite Members

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Over the last few years, the asset management industry has experienced significant regulatory and structural changes. The SEC has increased its focus on the private fund industry since private equity funds and hedge funds were required to register as investment advisers pursuant to Dodd-Frank. The SEC is constantly updating its inspection strategies with respect to private funds, and the enforcement actions in both the private equity and hedge fund space focusing on conflicts of interest and disclosure creates a framework for asset managers to consider in reviewing their legal and compliance obligations.

This course will discuss recent examination experiences, with a focus on both the examination process and areas of regulatory focus during examinations. The session will highlight the following:

  • Actions to be considered by private funds in connection with ongoing regulatory compliance.
  • SEC focus on conflicts of interest and other SEC examination priorities
  • Recent SEC speeches and areas of focus – the role of CCOs and cybersecurity
  • The importance of SEC preparedness and involvement of management
  • Reviewing filing obligations and annual reviews

Students will master the following at the conclusion of this session:

  • Defining and distinguishing different types of Examinations
  • Comprehend Regulatory Staff preparations for each type of Inspections or Audit
  • Identify the underlying purpose for various requests for information
  • Recognize the impact of examination and enforcement priorities
  • Effectively manage the Examination, e.g., interaction between firm personnel and Exam staff
  • Prioritize deficiencies and key elements of an effective response to the Examination Staff

Session Chairman:

Walter Zebrowski, JD, CPA, Principal, Hedgemony Partners
Chairman, Regulatory Compliance Association

Senior Fellows from Practice:

Mark Perlow, JD, Partner, Dechert
Christopher Wells, JD, Partner, Proskauer

Guest Lecturers:

Regina Thoele, Senior Vice President, National Futures Association
Elcin Yildirim, PhD, Assistant Director, Head of Quantitative Analytics Unit, SEC*
Jennifer Duggins, Senior Specialized Examiner, Co-Head Private Funds Unit, OCIE, SEC
Brian Caravello, JD, Examination Manager, Private Funds Unit, OCIE, SEC
Mark Polemeni, JD, CCO & Associate GC, Citadel
Nicholas Tsoudis, CCO, Invesco Private Capital
Simon Raykher, JD, GC, Kepos Capital

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