Registered Funds

Many mutual fund complexes are constrained in their selection of accounting, tax, audit and business consulting providers. This is often due to potential independence issues, the desire to engage an internationally recognized firm, limited expertise within a firm - or simply the desire for another point of view. We understand these dynamics and can provide you with a broad range of assurance, tax and consulting services to meet your needs.

ASC 740: Greater transparency within financial statements
The implementation of ACS 740 (formerly FIN48) was designed to create greater transparency within financial statements.

Regulated Investment Company Modernization Act of 2010
The mutual fund industry worked for many years to have these provisions enacted. The Act provides many long sought-after improvements addressing procedural issues that are no longer applicable.

SEC finalizes its changes to the performance compensation rule affecting registered investment advisers
Back in July 2011 the Securities and Exchange Commission (SEC) adopted rules to raise the thresholds that determine whether a registered investment adviser can charge performance fees to its clients. These changes came out of a requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Updates from the PCAOB
In February 2012 the Public Company Accounting Oversight Board (PCAOB and the Board) proposed amendments to certain of its rules and forms to apply them to auditors of broker-dealers. Following is a summary of those proposed amendments.

New CFTC rules require significant changes in compliance procedures
On Feb. 9, 2012, the Commodity Futures Trading Commission adopted rules amending its Part 4 regulations governing commodity pool operators (CPOs) and commodity trading advisers (CTAs).