The U.S. Securities and Exchange Commission (SEC) continues to focus on Private Funds.
On May 24, 2023, the SEC charged a New York RIA for various compliance failures related to the RIA’s valuation of “fund portfolio investments.”
According to the cease-and-desist order, the SEC staff found the following inadequacies:
• The RIA’s Compliance Manual did not provide a methodology to value the fund portfolio investments;
• The RIA did not have policies and procedures in place to reasonably assist in the calculation of NAV; and
• The RIA charged management fees based on the firm’s inadequate calculation of NAV.
Click here to view the Administrative Summary: https://lnkd.in/g5uhJz3y)
It is vital to your firm’s success that proper policies and procedures are tailored to your firm’s business model.
If your business could use an evaluation of its compliance policies and procedures, or if you are looking for comprehensive compliance solutions, ASG is prepared to help.
Let us show you how outsourced compliance services can help satisfy your regulatory burdens while also allowing you to focus on your business.