Regulation

‘Wrong framework’, ‘Just another opponent’

The ‘back door’ for regulators

Why the US Court of Appeals decision was such a 'sledgehammer' to the SEC, and how ILPA sees a 'playbook' in future Fifth Circuit suits. Part one in a series of four.

'If the rule gets vacated, we are still going to push this project forward,' says ILPA’s Neal Prunier.

Iron Road Partners’ Igor Rozenblit – former co-head of the SEC's private funds unit – details concerns and red flags the regulator will be looking for following the passing of its private market rules last year.

Among other things, this proposal would mandate that advisers must verify a customer’s or an entity’s identity 'within a reasonable time before or after the customer’s account is opened.'

Deal documents bound employees to expansive MNPI rules; division head also pushes co-operation for leniency in personal messaging cases, notes AI usage risks.

Registrants broke through triple digits at the industry organization’s London event, where the mood was optimistic, though the near-term future is filled with uncertainties.

Risk alert identifies shortcomings in advisers' P&Ps which "resulted in gaps for preventing violations of the marketing rule, books and records rule, or both."

A recent settlement likely means the SEC is already investigating the private funds sector for compliance breaches related to electronic messaging.