Alerts

Actions to Take in the Event of Loss of Client Data

July 5, 2006

In the event a fund is notified by a service provider that its investors' personal information or other sensitive fund data has been lost, the investment manager may be required to notify the affected investors within a limited period of time under federal or state privacy laws. As a best practice, the investment manager should also consider notifying the applicable regulatory authority (e.g., the SEC for registered investment advisers or registered funds, the NASD for registered broker-dealers, and the FTC for others).

Please do not hesitate to contact us for further information concerning this Alert and assistance in preparing any communications in the event you have received a notification regarding a loss of client data.