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OCIE is coming to get ya! (Here’s what they’re looking for)

The low-down on what the OCIE has been concentrating on in its IA exams; Key takeaways from the Bain and McKinsey reports.

OCIE exams: Sister title Regulatory Compliance Watch has some inside knowledge on what the SEC’s Office of Compliance Investigations and Examinations is concentrating on during its exams this year. Among them, investment advisors’ use of alternative data, and how firms are dealing with the transition away from LIBOR. Sources warn that firms would do well to include use of alternative data – increasingly being used by investment managers — in their compliance policies and procedures. RCW has the scoop on what else firms say the OCIE is focusing their attention on, so read on.

GP Stakes: From sister title Private Equity International, Carmela Mendoza breaks down the recent annual private equity market reports from Bain & Company and McKinsey into four key takeaways. It’s all interesting, but for our purposes, I direct you to the sections on multiples and leverage, as well as those on GP stakes funding and GP-led secondaries. McKinsey says GP-stakes fundraising nearly tripled in 2019, and the first half of 2019 matched all of 2017 in GP-led secondaries volume. And yet, as we wrote in January, investors are demonstrating signs of indigestion in the fastest growing part of the latter market: single-asset restructuring deals. That’s leading some industry pros to suggest that some innovation may be required to keep the growth going.

And we’ll leave you with a quick update from the Private Equity International CFOs & COOs Europe Forum.

The opening keynote for the conference will cover all things artificial intelligence, and will be given by Professor Al Naqvi, CEO at the American Institute for Artificial Intelligence. He’ll be sharing his insight on how AI will impact fund management – and what you can do to prepare.

Advanced pricing ends on Friday, so book now to save £500.

Email prepared by Graham Bippart and Philippa Kent.