AIMA Webinar Replay: The SEC Exam Observations Risk Alert: What Does It Mean, and What Does it Mean for You?

Published: 11 August 2020


The 23 June Risk Alert from the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) provided a comprehensive summary of certain compliance issues observed during fund manager examinations. The level of detail in this alert was particularly helpful for those seeking to identify potential areas of business risk. However, its blunt nature in identifying the corresponding regulatory concerns may have been somewhat unnerving, particularly for those unaccustomed to US regulation.

Overall, the risk alert was consistent with the SEC’s published examination priorities for the past few years and speak to the many regulatory – and fiduciary – responsibilities of fund managers. Indeed, the SEC’s concerns are not surprising in the context of stated regulatory objectives. Risk alerts are an important reference for fund managers in ensuring compliance with obligations, expectations, and best practices, and this alert raised a number of timely and significant issues.

On August 11th, Debra Franzese and Joseph M Morrissey of Seward and Kissel LLP and Suzan Rose of AIMA will review this important risk alert and potential implications for fund managers. Questions may be submitted for discussion prior to or during the webinar, directly or anonymously. We hope you will join us for what we expect to be an informative and lively discussion on this important topic.


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