Private fund advisers: Integrating testing into a risk-focused compliance program (PricewaterhouseCoopers)

KEYWORDS: compliance requirements, financial institutions, financial services, Dodd-Frank Act, SEC, Securities and Exchange Commission, alternative fund managers, Investment Advisers Act Rule 206(4)-7, Hedge Fund Regulation, risk management, Hedge Fund IT, hedge fund infrastructure, insider trading, valuation, market manipulation

Authors:

PwC Financial Services Regulatory Practice

Organizations:
  • PricewaterhouseCoopers

Summary:

The financial services industry that has emerged from the recent market turmoil is one that has stricter standards, greater regulatory scrutiny, and higher client expectations for alternative asset management firms. As part of the Dodd-Frank Wall Street Reform and Consumer Protection Act many hedge fund and private equity fund advisers (private fund advisers) will be required to register with the Securities Exchange Commission (SEC).

Those that register will be subject to the same rules, regulations, and requirements as traditional advisers, including having to implement and annually assess a compliance program as mandated by the Investment Advisers Act Rule 206(4)-7.

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