SEC Identifies Private Fund Deficiencies

On June 23, 2020, the SEC Office of Compliance Inspections and Examinations issued a Risk Alert that highlights commonly encountered deficiencies in examinations of hedge fund managers and private equity fund sponsors. In this article, partner Marc Elovitz and former Schulte lawyer Brian Daly examine the deficiencies outlined in the Risk Alert and provide guidance for fund advisers and compliance personnel in preparation for their next annual compliance reviews.