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  • PFM-Cover-Sep17

    September 2017 Issue

    In this issue
    SEC’s reporting modernization rules mark new era

    New Securities and Exchange Commission reporting requirements will be burdensome for fund managers, but provide the agency with the power to aggregate and analyze information like never before, writes WithumSmith&Brown’s Tom Angell

    Hunting the unicorn

    The regulator is watching start-ups ‘worth’ more than $1bn, so private fund managers must ensure their valuation policies are compliant. Claire Wilson reports

    IRR calculations remain under SEC spotlight

    Fund managers must be explicit in disclosing their calculation methodology to investors, or face the wrath of the regulator, writes Vivek Pingili, vice-president of compliance at Cordium

    The institutionalization of private equity

    With the growth of private equity and the wall of money flowing in, managers are struggling with the ‘institutionalization’ of the asset class. Malcolm Pobjoy, Vistra’s group commercial director for North America, sets out what GPs need to do to deal with new investor demands

    Booking the value

    As private funds accounting becomes ever more important, Peter Cogan, partner and co-leader of EisnerAmper’s financial services audit and assurance services practice, tells pfm about the rising complexity – and the costs

    Bringing the back office to the front

    Technology upgrades, operational due diligence and marketing compliance pitfalls were hot topics at sister title Private Equity International’s Investor Relations & Communications Forum. Claire Wilson reports on the key takeaways

    Winds of change

    The nomination of a Dodd-Frank critic as commissioner and the private filing of IPOs are just two signs of a new direction at the SEC, Claire Wilson writes

    Clubbing together

    Consolidation may be beneficial for the fund administration businesses, but is it in the best interests of the end user? Rebecca Akrofie explores the recent surge in acquisition activity and gets a CFO view on its impact

    Ending in tiers

    Guidance unveiled by the investors’ trade body on subscription lines comes as the industry is getting to grips with best practice on this now-controversial issue, Thomas Duffell writes

    The enemy within

    Fund managers hold huge amounts of data and sensitive information, so tackling the sharp rise in cyber-crime is a priority. Zak Bentley finds out how to defend against an attack

    First among equals

    The pain UK-domiciled fund managers are feeling from the Financial Conduct Authority will be worth it in the long run

    What to do when the worst happens: cyber-attack

    Two recent security breaches mean it’s time to examine how private fund firms should act if they become victims

    Con-templating the future

    The Financial Conduct Authority will insist UK private equity firms use a standardized reporting template, but it’s crucial they learn from their US counterparts.

    Clause for thought

    Do key-person provisions achieve what they are supposed to?

    ‘I love the creativity and satisfaction’

    Alexandra Poe, a private funds partner in the corporate practice of Hughes, Hubbard & Reed in New York, tells pfm about how she ended up in private equity law and the best week of her life.