2016 Compliance Survey for Alternative Fund Managers

January 25, 2016

Are you interested in how your firm's approach to valuation of client assets compares to that of your peers? Ever wonder what controls other private fund managers have implemented around their marketing and advertising efforts? Are you curious as to what practices or controls your peer firms have implemented surrounding cybersecurity?

If these questions interest you, ACA Compliance Group invites you to participate in our new ACA Alternative Fund Manager Survey. This survey is part of our ongoing series and is focused on the compliance practices, processes, and procedures of private equity, real estate, and hedge fund managers. During ACA’s last iteration of this survey series in 2015, we received nearly 270 responses. As with the previous assessments, after the survey closes, ACA will offer a free webcast for participants. During this event, our consultants will discuss the survey results and provide best practice tips based on our expert analysis of the information collected.


ACA has designed its alternative fund manager surveys to explore and analyze the unique, complex issues faced by private equity, real estate, and hedge fund compliance professionals. Our current survey covers these important topics:

  • Marketing and Advertising– In this area, the survey covers compliance controls and testing related to private fund advertising, practices around the marketing of performance results, and potential broker-dealer registration.
  • Valuation– This segment focuses on the use of formal valuation committees, valuation oversight in general, the use of third-party valuation agents, and ongoing compliance testing.
  • Transactions and Counterparties– Here the survey concentrates on factors considered in the selection of trading counterparties, policies and other considerations related to co-investment offerings, cross trades, and best execution assessments.
  • Cybersecurity– In this section, the survey covers the controls firms have taken regarding the protections of its networks and information, the use of third parties to assist in cybersecurity efforts, and whether firms have been targets or victims of a cyber-attack.

Your participation in our survey will have multiple benefits. Our past respondents have said that answering the questions alone gave them valuable insight into how to apply various best practices to their compliance programs. In addition, the aggregated survey data will benefit everyone by providing up-to-date benchmarks for compliance controls and testing practices specific to the alternative fund management industry. This information will be useful for periodic and annual reviews. The results may also assist firms in assessing existing and potential regulatory requirement impacts on their businesses.


Important Information About the Current Survey

As mentioned above, after the survey closes, ACA will discuss the results in a free webcast for survey participants. This event will take place April 14, 2016. Participants will be redirected to register for the webcast upon completion of the survey. In order to receive complimentary access, please be sure to complete the registration before exiting the survey.

The survey takes approximately 30 minutes to complete. Partially completed responses cannot be saved, so please plan to answer all questions in one sitting.

The survey is open to compliance professionals at private equity, real estate, and hedge fund managers until March 4, 2016. We ask that only one person per firm participate. If you are not your firm's chief compliance officer, please check with him or her before taking the survey to avoid duplicate responses.

ACA conducts its surveys in a "blind" manner where all respondents remain anonymous. You will not be asked to identify yourself or your firm at any point during the survey. All responses are strictly confidential. Responses may be shared with third parties at our discretion; however, they will remain anonymous and will not be attributed to the respondent.

Should any technical questions arise regarding the survey, please contact Danielle Joseph at (202) 713-8632.

Thank you in advance for your contribution.