The Guidance Statement on Broadly Distributed Pooled Funds was officially approved on March 13, 2017. The following are highlights of what is included, and what changed from the original drafting.
The Global Investment Performance Standards (“GIPS®”) are a set of voluntary, ethical standards developed by CFA Institute in partnership with other organizations worldwide. The creation of the GIPS standards was spurred by a need for prospective investors to be able to make meaningful comparisons of investment performance across multiple managers, for any given strategy. As acceptance of the GIPS standards continues to spread globally, adoption remains especially strong in the United States. Managers that are registered with the U.S.
Firms that claim compliance with the GIPS standards are required to notify CFA Institute of their claim of compliance. Each firm must submit the GIPS Compliance Form annually, by June 30th. Any data included in this form must be as of the prior December 31st. Firms completing the form currently must include data as of December 31, 2016. Note that the form can be submitted anytime between now and June 30th and is not dependent upon completion of a firm’s 2016 verification.
The 2017 form is now available and includes a few updates.
Proposed revisions to the Guidance on the Use of Supplemental Information were released for public comment on December 1, 2016. The deadline for submitting comments is February 28, 2017. We discuss key points from this draft Guidance Statement below.
The following article written by Brian Lattanzio and Ken Harman was featured in the September 2016 NSCP Currents Newsletter.
The following article appeared in the February 2016 edition of NSCP's Currents newsletter was written by Michael Abbriano, Senior Principal Consultant, ACA Compliance Group.
A program presented by The Hedge Fund Law Report and ACA Compliance Group (ACA) extracted compliance lessons for hedge fund managers from recent SEC enforcement actions in the areas of conflicts of interest, fees and expenses, chief compliance officer (CCO) liability, compliance resources and technology. The program, entitled “What Hedge Fund Managers Need to Know About SEC Enforcement Trends,” was moderated by William V. de Cordova, Editor-in-Chief of The Hedge Fund Law Report, and featured Barry P.
The following article was featured on September 24, 2015 in Hedge Fund Law Report.
Since the global financial crisis of 2008-2009 and the Madoff Ponzi scheme (collectively, the “Financial Crisis”), both regulators and investors have significantly increased their demands that hedge fund managers (“HFMs”) develop and maintain an institutional-quality infrastructure. Unfortunately, at the same time, the revenues available to most HFMs to build and support the required institutional infrastructure have diminished, as both fees and AUM have been compressed.
Eighteen months remain until the "go live" date for MiFID II, January 3, 2017.
The follow article written by ACA's Tammy Tam was featured in BISA Magazine Q1 2015 issue.
Broker-dealers are constantly reminded of the areas of risk that regulators want to review. These risk areas are no secret; both the Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC) issue a letter each year outlining their examination priorities.
The following article appeared in the May 13, 2015 issue of Ignites and was written by ACA Senior Principal Consultant Jason Rosenberg.
The following article appeared in The Hedge Fund Law Report on April 16, 2015.
The following articled appeared in The Cybersecurity Law Report on April 8, 2015.