Services Compliance

Here are five key takeaways for private fund managers to keep in mind as they head into Annual Reviews and work to assess their compliance policies and procedures; execution of their processes; and test the strength of their compliance controls to ensure that they remain out of the crosshairs of regulators.

Silver’s Fizza Khan, CEO, and Nicholas Nunez, Managing Director and Head of Regulatory Compliance, published an article in AlphaWeek that provides investment advisers with compliance tips for navigating the increased regulatory scrutiny by the SEC, particularly with regard to recording and retaining all electronic communications across the entire firm.

Silver’s CEO, Fizza Khan, catches up with Tom Stabile, a senior reporter at FundFire, to discuss the ballooning page counts required of private fund managers under Form ADV, Part 2A. She notes that this trend reflects changing expectations and new requirements from the SEC, which is indicative of the level of scrutiny the SEC is placing on disclosure right now.

Due to increased SEC scrutiny, Silver’s Fizza Khan, CEO, and Nicholas Nunez, Managing Director and Head of Regulatory Compliance, published an article in the National Law Journal about the books and records regulations governing electronic communications, including recent SEC investigations and enforcement actions and record keeping best practices to help firms stay compliant.

Filling out Form ADV can be a complicated process, which requires a lot of planning, data collection, communication among key stakeholders and time. As the 2022 Form ADV season comes to a close, the Silver compliance team compiled some key takeaways from this year’s filings that might help RIAs better prepare and navigate their way through this complex process in 2023 and beyond.