News & Events

Litigation Partner Mike Osnato was quoted in a Hedge Fund Law Report article outlining some of the key takeaways from the recently issued risk alert by the SEC’s Office of Compliance Inspections and Examinations (OCIE) on observations from examinations of investment advisers that manage hedge and private equity funds. The risk alert aims to help private fund advisers in reviewing and enhancing their compliance programs, and focuses on areas such as conflicts of interest, fees and expenses, and material nonpublic information and codes of ethics.

Mike, who is the former Chief of the Complex Financial Instruments Unit of the SEC’s Division of Enforcement, noted that while the SEC’s messaging in its latest risk alert is consistent with its previous guidance, it is still valuable. “It’s still important because any time they choose to reinforce a core set of messages, it tells you that those areas continue to be the focus of exams and enforcement. It’s telling the industry to remain vigilant because they are as well.”

To read the full article, please click here (subscription required).