November 5, 2015
Following the enactment of the Dodd-Frank Act, the Securities and Exchange Commission began examining a significant number of private investment fund advisers that registered with the SEC. In 2015, the Director of the SEC’s examination program announced that the examiners were broadening their focus on private equity fund managers to specifically include managers of private real estate funds. Meanwhile, the SEC’s Division of Enforcement continues to pursue a growing number of cases against asset managers, focusing particularly on fees, expenses and conflicts of interest.
In light of the specific regulatory and enforcement risks now facing the advisers to private real estate funds, this program focuses on:
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MODERATOR:
C. William Thomas Jr. — Investment Funds partner with Gibson Dunn. Practice emphasizes the formation and operation of domestic and international private investment funds, including real estate funds, hedge funds, private equity funds, mezzanine funds and funds of funds. Has broad experience representing fund sponsors, as well as institutional investors and joint venture partners.
PANELISTS:
Lucas C. Wilson — Managing Director and Private Equity Practice Leader with ACA Compliance Group. Specializes in SEC compliance for advisers to private equity funds and other private funds. Coordinates the development, implementation, and maintenance of customized compliance programs. Also coordinates and conducts mock regulatory examinations, supports ACA clients during SEC examinations, and performs annual compliance program reviews. Specializes in identifying client-specific risks and conflicts of interest.
Marc J. Fagel — Securities Enforcement and White Collar Defense partner with Gibson Dunn. Practice focuses on the representation of public companies and their officers and directors, as well as financial institutions, hedge funds, private equity firms, and others in investigations and examinations conducted by the SEC, DOJ, FINRA, and other regulatory bodies. Previously spent nearly 16 years with the SEC, including serving as Regional Director of the SEC’s San Francisco Regional Office from 2008-2013.
Gregory Merz — Investment Funds of counsel with Gibson Dunn. Focus on regulatory issues, product development and corporate transactions for investment advisers, private and registered investment funds and other financial services products and institutions. Has extensive experience with the application of federal and state securities laws to all aspects of the asset management industry, including the Investment Advisers Act of 1940, the Investment Company Act of 1940, Securities Act of 1933, the Securities Exchange Act of 1934, Dodd-Frank Wall Street Reform and Consumer Protection Act, Graham-Leach-Bliley, the USA PATRIOT Act, the Bank Secrecy Act and state blue sky laws.