By Johanna Arasin, Baker Tilly The Securities and Exchange Commission (SEC) voted 3–1 in January 2022 to propose amendments to Form PF, as filed by registered investment advisors to private funds. The proposal was supported by Chair Gary Gensler and Commissioners Allison Herren Lee and Caroline A. Crenshaw. The purpose of Form PF is to…
By Kristen Hughes, Baker Tilly In November 2021, the Securities and Exchange Commission’s Division of Enforcement (the Division of SEC) published its annual report for 2021. The annual report was presented as a press release, whereas in prior years it was published as a sizeable brochure. While shorter than previous annual reports, the press release…
By Joe Mauro, Baker Tilly In early 2021, Wall Street began seeing high profile short squeezes. These are situations where investors coordinate purchases and drive up the price of certain stocks in order to force short sellers to exit their positions at a loss1. In the short squeeze of GameStop Corp. (GME) every day average…
The New York Alternative Investment Roundtable’s inaugural Five for Five podcast features five high profile women within the alternative investment community weighing in on the same question for five minutes each. Alison Berman, President & CEO of Palisade Capital Management; Dr. Sonal Desai, Executive Vice President & CIO for Franklin Templeton Fixed Income; Alexandra Lebenthal,…
By Diane Swonk, chief economist, Grant Thornton Russia’s invasion of Ukraine has done what the pandemic failed to do: It has unified much of the world against a common foe, Vladimir Putin. His unprovoked aggression toward Ukraine is acting as a cautionary tale against autocrats elsewhere, including China. The sanctions on Russia are farther reaching…
By Diane Swonk, chief economist, Grant Thornton Federal Reserve Chairman Jay Powell essentially promised a quarter point increase in short-term interest rates at the conclusion of the March 16, 2022 Federal Open Market Committee (FOMC) meeting when he testified on Capitol Hill March 2 and 3. That seems like an eternity in today’s rapidly changing…
By Johnny Lee and Marcus Veith, Grant Thornton According to Bloomberg, Tesla’s investments in Bitcoin total $1.26 billion. Meanwhile, MicroStrategy CEO Michael J. Saylor told CNBC that he believes Bitcoin will appreciate in value until it becomes a “stabilizing influence” for the entire global financial system. Some might say investing in cryptocurrency is a bold and…
Key considerations for investment advisers A Deloitte Report The growing number and complexity of cybersecurity risks facing investment advisers (IAs) has triggered an increased interest in cyber risk management by the United States Securities and Exchange Commission (SEC). Cyber risks and the SEC’s related focus are particularly relevant for mutual funds, hedge funds, and private…
By Alston & Bird partners David J. Baum and Martin H. Dozier Executive Summary Using personal devices and messaging platforms may be convenient (and ubiquitous), but it may run afoul of federal records retention rules. Our Investment Management, Trading & Markets and White Collar, Government & Internal Investigations Teams examine the latest federal enforcement and…
An Alston & Bird Investment Management Advisory Our Investment Management, Trading & Markets Team offers practical takeaways from the Securities and Exchange Commission’s pair of proposed rules that would bring extensive changes to how private fund advisers can do business. The private fund adviser proposal brings six different rules into play The cybersecurity proposal addresses…
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