Akin Gump Authors Discuss SEC Risk Alert on Fund Adviser Pitfalls in The Hedge Fund Journal

August 10, 2020

Reading Time : 1 min

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Alexandra Field

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Jacinta O'Shea-Ramdeholl

Senior Manager, International Communications

The Hedge Fund Journal has republished an Akin Gump client alert authored by Akin Gump partners Peter Altman, Michael Asaro and Jason Daniel, among others.

“Private fund adviser conflicts of interest, fee and expense management and material non-public information” discusses the issuance of a Risk Alert by the Securities and Exchange Commission’s Office of Compliance Inspections and Examination (OCIE) focusing on three areas where OCIE has observed “compliance deficiencies during recent examinations of registered investment advisers that manage private equity funds or hedge funds (collectively, “private fund advisers”): conflicts of interest, fees and expenses, and policies and procedures relating to material non-public information.”

The article looks at each of these three in turn and concludes, in part, that the Risk Alert “signals that private fund advisers should continue to ensure that their policies and procedures are not only sufficient, but enforced.” The authors recommend that private fund advisers review the full list of identified deficiencies in the Risk Alert.

To read the original alert, click here.

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