Duff & Phelps has an experienced team in the U.S. and other global jurisdictions who has helped firms to become SEC registered and advised on exemption requirements.
As a result of the US Dodd-Frank Act signed into law in July 2010, a number of asset managers have found that they have to register with the Securities and Exchange Commission (SEC), although many are exempt from full registration. The SEC finalized the rules and exemptions from full registration as an investment adviser with the SEC in June 2011. Foreign Private Advisers are not required to register with or file information to the SEC. In addition, Private Fund Advisers could be exempt from registering with the SEC under the exempt reporting adviser exemption, as could those managing solely venture capital funds.
Exempt reporting advisers must prepare and file certain sections of Form ADV Part 1A and are eligible for SEC examination. Duff & Phelps can assist exempt reporting advisers in the preparation and filing of Form ADV and in determining whether your firm fits within an exemption, as more fully outlined below:
Firms that manage more than $25 million in assets in under management and have at least one managed account need to register with the SEC or the state(s) in which they are located and/or doing business.
Firms that manage up to $150 million in private funds only or manage strictly venture capital funds, may be eligible for a registration exemption.
Firms that manage less than $25 million in assets under management should review local state law to identify any registration requirements.
Our global compliance team also has an in-depth understanding of regulatory regimes across jurisdictions, including the SEC, FCA and SFC. We have helped firms to build and maintain the compliance infrastructure, policies and procedures that meets regulatory standards. Once firms are SEC registered, we also provide ongoing compliance support and advisory services including SEC mock examinations, on-site SEC examination support, annual self-assessments, regulatory filings/reporting and alerts on changes in regulations.
Comprehensive support for asset managers registering in the U.S.U.S. Regulation
Alternative Asset Advisory
Provides an array of consulting services to alternative investment managers and investors.Alternative Asset Advisory
Broad and integrated range of regulatory financial reporting, company secretarial, and payroll services.Business Services
Compliance Due Diligence
Regulatory operational due diligence for asset managers.Compliance Due Diligence
Global Fraud and Forensic Investigations
Expert analysis to help clients understand, prevent and manage fraud.Global Fraud and Forensic Investigations
Investment Adviser Services
SEC and CFTC registration and ongoing compliance support.Investment Adviser Services
Regulatory Tax Advisory
Global tax services uniquely customized for asset managers.Regulatory Tax Advisory
Assistance with complex securities litigation.Securities Litigation
U.S. Regulatory Calendar 2020
SEC Office of Compliance Inspections and Examinations Publishes Observations on Cyber Security and Resiliency Practices
FINRA 2020 Risk Monitoring and Examination Priorities Letter
The California Consumer Privacy In Effect as of January 1, 2020
Peter Wilson Talks About How CCOs Can Improve Their Compliance Programs in Private Equity Law Report