SEC Issues Risk Alert: Compliance Issues for Investment Advisers Managing Private Funds – What You Need to Know

In this Ropes & Gray podcast, asset management partner Jason Brown and litigation partner Dan O’Connor discuss the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) risk alert providing observations and guidance on compliance issues for registered investment advisers that manage private equity funds or hedge funds. Based on years of experience representing registered investment advisers, Jason and Dan provide their own observations on the compliance deficiencies that OCIE highlighted: (1) conflicts of interest, (2) fees and expenses; and (3) codes of ethics, including material nonpublic information (MNPI).