Lessons from 2019: the SEC is getting tough

Big takeaways of 2019; Allen sharpens his defense; tech and private funds (sponsored)

2019 Big Takeaways: As we continue our year in review kick, we count off the eight big lessons 2019 had for the industry. Among them has been the fact that the SEC is getting tough on private funds. There was a 77 percent increase in SEC enforcement actions against investment advisors and investment companies in FY 2019. I’ll flag a more in-depth look at SEC actions over the year tomorrow.

Allen update: NYPPEX’s Laurence Allen held a webinar to elaborate on his defense against the suit by the Office of the New York State Attorney General claiming he defrauded investors. I’ll have a report on that shortly, but Allen is sharpening his point about one investor ‘greenmailing’ him, while also going on the attack against the NY AG’s office, saying that not only does it misrepresent the facts, but that it doesn’t understand some of its own claims.

Tech and private funds: In this sponsored article, Rey Acosta, CEO of Allvue Systems, looks at four factors motivating fund managers to move away from Excel. It’s probably no surprise that in a survey of fund CFOs 66 percent said their fund structures were becoming more complex. For many, technology like AI will be a primary means of dealing with increased complexity and demand for data by LPs.