by Terrance J. O’Malley

A decade ago, legal and compliance issues stood at the top of the priority list for most private fund firms looking at the operational side of their business.  Wide-ranging interviews with leading industry participants, surveys of Chief Operating Officers, and other anecdotal evidence, however, suggests that may not be the case today.  Meanwhile, recent actions by the SEC staff, including the release of “risk alerts” highlighting deficient industry practices, indicate that the SEC has taken notice.  This blog post suggests that senior management should revisit legal and compliance roles to ensure that these functions remain a top priority. Continue reading →