Financial Services

Accounting standards. Industry regulations. Ever-evolving tax rules. New legislation.

With more than 50 years of experience serving the financial services community in key financial hubs, we help organizations navigate complex reporting, governance and regulatory issues to achieve their business objectives. We serve alternative investment companies, investment advisors, investment partnerships/hedge funds, private equity funds, broker-dealers and futures commission merchants.

The impact of amendments to fair value measurement and disclosure requirements
What management should understand about the impact these amendments will have on their financial reporting.

SEC finalizes its changes to the performance compensation rule affecting registered investment advisers – round two
In July, 2011, the Securities and Exchange Commission (SEC), adopted rules to raise the thresholds that determine whether a registered investment advisor can charge performance fees to its clients. Stemming from a requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), Rule 205-3 exempts certain investment advisers from this prohibition and allows a performance fee to be charged to qualified clients.

SEC registration reminder with Feb. 14 deadline - new set of registration criteria that may affect your company
In June 2011, the Securities and Exchange Commission (SEC) adopted new rules and rule amendments to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). Title IV of the Dodd-Frank Act eliminated the private adviser exemption on which certain advisers to hedge funds, private equity funds and venture capital funds had relied and created a new set of criteria under which these advisers will be required to register.

SEC adopts new net worth standard for accredited investors
On Jan. 25, 2011, the Securities and Exchange Commission (SEC) proposed amendments to the accredited investor standards in order to comply with the requirements of Section 413(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). Nearly a year later, on Dec. 21, 2011, the SEC adopted the final rules in an amendment to the accredited investor standards.

SEC approves confidential private fund risk (Form PF) reporting
On Oct. 26, 2011, the Securities and Exchange Commission (“SEC”) voted unanimously to adopt a new rule requiring registered investment advisers to private funds, including hedge funds, to report information for use by the Financial Stability Oversight Council (“FSOC”) in monitoring risks to the U.S. financial system.

Significant Developments Affecting Broker-Dealers and Their Auditors
The PCAOB conducted an open meeting on June 14, 2011 to consider the adoption of certain rules as implementation begins of its expanded oversight responsibilities for audits of broker-dealers under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

2010 McGladrey and Greenwich Associates Hedge Fund
Industry Survey Report
Hedge funds are in search of new investors, and have increasingly turned their attention to institutional money. This second annual survey details the challenges that many funds are facing as well as best practices to help meet the risk management, reporting and transparency demands associated with institutional investors.

Seven Steps To Success In The Start-Up Business
Starting an investment advisory business in today’s environment is much more difficult and complicated than it was only five years ago. Constantly changing regulations, the difficulty in the current credit environment and choosing the best service providers for your organization are only some of the issues that need to be addressed.