Is not disclosing a regulatory proceeding a compliance risk?

Most registered private funds facing SEC enforcement actions didn't disclose it in Form ADVs.

In part three of this month’s cover story, Bill Myers and Connor Hussey find that only one of the 16 registered private funds facing enforcement actions by the Securities and Exchange Commission this year disclosed it in advance – something required by Form ADV filings. They look at why this might be the case, and whether not disclosing a “regulatory proceeding” presents another compliance risk.

Email prepared by Graham Bippart