Ken Joseph, Managing Director in the Disputes and Investigations practice, was quoted in a Private Funds Management article on the SECs Private Fund Focus.
“The regulator defines the ‘retail’ category broadly. If private funds manage retail or retirement money, directly or indirectly through foundations or pension funds or other institutions, they’ll be considered part of this effort,” says Joseph.
“If a firm hasn’t faced an exam yet, or hasn’t been examined in seven to ten years, they should expect to be part of the regulatory focus,” says Joseph. So, GPs [general partners] shouldn’t expect exams to slow or stop any time soon. And those exams will continue to focus on the priorities that were in the headlines back in 2015, when the SEC was talking about the need for more ‘sunshine’ on the industry.”
Read the complete article here.
