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Explore our latest thinking on the issues that matter most in risk, compliance and regulation.

Presentation

Net Returns, Track Records, and Substantiation

Tackling the Tough Advertising Issues for Private Market Managers

Analytical Note

SEC Risk Alert on the new marketing rule signaling exam sweep

While Risk Alerts are often considered by compliance departments, this one is especially important.

Analytical Note

Perceptive Advisors — The pitfalls of manager sponsored SPACs

Perceptive is a healthcare and biotech manager focused on crossover investments and advises multiple private funds.

Analytical Note

Lone Star Funds — Errors in the implementation of vertical integration

The founder’s tax liability was included in the cost basis for services Lone Star provided its funds.

Presentation

GNDF and the SEC Marketing Rule: A simple implementation of gross-net spread for utilizing model fees in generating net returns in private equity

Infographic

GNDF and the SEC Marketing Rule

A simple implementation of gross-net spread for utilizing model fees in generating net returns in private equity

Analytical Note

Energy Innovation Capital — Management Fees in Private Equity

The case involved three separate violations related to EIC improperly calculating its management fee base.

Our AI Regulatory Tracker provides an overview of key federal, state, and international policies relating to AI legislation and depicts SEC enforcement cases that relate to AI or cybersecurity violations.
Analytical Note

Crypto Insider Trading Case – Ishan Wahi

This note focuses on the question of which crypto assets may be crypto asset securities.

Analytical Note

Energy Capital Partners Case – Costs Related to Bridge Financing

One of ECP’s funds absorbed line commitment costs attributable to co-investors without disclosure.

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