While accounting standards, valuation frameworks and industry guidelines have been moving towards standardization of valuation principles, private equity (“PE”) fund managers still have substantial freedom when valuing their portfolio companies. For example, there is inevitable temptations to present interim performance numbers in a particularly favorable light when raising a follow-on fund or limiting write-downs during…

Part 2 of a 3-part series In Part 1 of our Due Diligence Series, Managing Vendor Risks: Implementing an Effective Third-Party Due Diligence Program, we discussed the various aspects of an effective third-party vendor due diligence program. In this article, we focus on the keys to conducting adequate due diligence of sub-advisors to satisfy heightened fiduciary…

“Full transparency of fees and conflicts of interest is critical in the private equity industry and we will continue taking action against advisers that do not adequately disclose their fees and expenses.”  –Andrew J. Ceresney, Director of the SEC’s Division of Enforcement Over the past several years, the Securities and Exchange Commission (“SEC”) has been…

Yesterday, at the direction of President Obama, the Department of Labor (Department) released its final fiduciary rule which it believes will better protect consumers. The rule is expected to have a dramatic impact on the financial industry. First, the rule expands the definition of who is deemed a fiduciary under the Employee Retirement Income Security…

© 2015-2017 INTEGRATED COMPLIANCE SOLUTIONS GROUP, LLC