SEC Presence Exams Webinars

In October, the SEC introduced their National Exam Program, pursuant to which SEC exam staff are conducting a substantial number of focused, risk-based exams of recently registered private fund advisers (“presence exams”). We hosted two, one-hour webinar sessions where we discussed the presence exams and how these differ from traditional exams, and addressed specific issues that have arisen for private equity and hedge fund firms. In particular, we covered the “first day letter” and the narrower, more focused scope and accelerated timeline of the presence exams as compared to traditional exams. We also discussed the SEC’s approach to examining managers that are not newly registered, including managers the SEC believes merit a more intense exam due to past exam findings or other perceived risk factors. We conducted two sessions on presence exams, one geared towards exams of private equity fund managers and the other geared towards exams of hedge fund advisers.

Please join us for our discussion of the SEC’s presence exams and lessons learned to date.

Private Equity Funds
Tuesday, February 5, 2013
1:00 pm ET
Please click here to register.

Hedge Funds
Tuesday, February 12, 2013
1:00 pm ET
Please click here to register.