Private Equity Compliance
Vigilant’s experienced compliance professionals serve as outsourced Chief Compliance Officers for numerous Private Equity Fund Advisers, including Private Equity, Real Estate, and Venture Capital Funds. The Dodd-Frank Act requires Private Equity Fund Advisers who manage over $150 million of assets to register with the SEC and to have a compliance program that includes a Chief Compliance Officer. A Registered Private Equity Adviser must comply with the many legal requirements of the Investment Advisers Act of 1940.
Private Equity Fund Advisers require specialized Compliance Programs due to their often complex legal structures and unique investment style. Vigilant is experienced in registering Private Equity Firms, developing their compliance Programs, and operating those programs from inception to multiple billions of dollars in assets under management.
Outsourced Private Equity Compliance for CCOs
With the SEC’s proposed Private Fund Rules to enhance private fund investor protection in February 2022, there is an industry wide expectation that there will be an increased focus by the SEC on Private Fund Advisers, including Private Equity Advisers.
Additionally, along with the increased focus by the SEC, Private Equity Advisers will be required to adopt and implement new policies and procedures.
Do you have enough internal resources or the right external resources in place?
Can you keep up with your regulatory requirements not only today, but in the future, as your regulatory obligations increase?
Vigilant and its staff of experienced compliance professionals have extensive experience in managing and supporting the compliance programs of Private Equity Advisers and are prepared to provide you assistance in a wide array of private funds compliance services.
When partnering with Vigilant, we allow Private Equity Advisers to focus on managing their Fund(s), growing their Limited Partner (“LP”) base, and other core competencies.
Through the following suite of solutions, Vigilant can either manage your entire compliance program or provide you with select support:
Vigilant's Suite of Private Equity Compliance Solutions
- Full Service Compliance Support to in-house Chief Compliance Officer (“CCO”)
- Utilize an expert staff of compliance experts without building a cost center
- Vigilant under the direction of the in-house CCO will perform all SEC compliance related obligations
- Including but not limited to, Annual Rule 206(4)-7 Report, Risk Assessment Matrix, Compliance Calendar Management, Key Vendor Due Diligence, Regulatory Filings, Code of Ethics & Personal Trading Management, Compliance Training, Cybersecurity Assistance, etc.
- Interim Outsourced CCO
- Flexible availability of expertise over a short to interim time period.
- Outsourced CCO
- Provides need for firms with limited resources and/or in-house expertise.
- Industry Best Practice Reviews of Private Equity Compliance Programs
- Mock SEC Examinations
- Mock SEC Interviews
- Tailored SEC Document Request Lists
- Formal Written Reports Evidencing such Reviews and Recommendations
- Web CRD, IARD, and Edgar Management
- SEC Registration & Exempt Reporting Adviser Registration (ERA)
- Form ADV Annual & Updating Amendments
- Form PF Filings
- Section 13 Filings (e.g., 13F, 13H, 13D, 13G), as applicable
- Select Additional Filings
- Assistance and/or Management of SEC Examinations
- Supporting Documentation Compilation
- Supporting Documentation Review
- Drafting and Review of Submittal Letter
- Interview preparation
- Participation in Regulatory Examination Calls/Meetings
- Creation of Day 1 SEC Presentation
- Expert Consultant in SEC Enforcement Actions
- Security Breach Response Assistance
- In-person & Select Electronic Training
- Compliance Training
- Code of Ethics, Conflicts of Interest and Personal Trading Training
- Insider Trading and MNPI Training
- Online Cybersecurity Training Platform
- Automated Phishing Tests
- Industry “Hot Topic” Trainings (e.g., Expense & Investment Allocation, Relevant SEC Enforcement Actions, etc.)
Vigilant is well versed in the compliance requirements and risks specific to managing Private Equity Funds
- Managing and disclosing conflicts relating to allocating investments across multiple Funds.
- Properly disclosing co-investments or other special purpose vehicles.
- Properly allocating fees and expenses among Funds, Portfolio Companies, and the Adviser.
- Adequately disclosing and supervising Operating Partners, or individuals who provide solutions to the Funds or Portfolio Companies, but who are not employees.
- Providing proper training and oversight over employees and establishing written policies and procedures designed to prevent the misuse of Material Non-Public Information.
Vigilant is a full service Investment Management Solutions Firm servicing the regulatory needs of a diversified range of investment management clients. We help with private equity compliance, venture capital compliance, consulting for private equity firms, and other compliance needs. With team members in New York, Philadelphia, Boston, Dallas, Washington, D.C., and around the nation, Vigilant is well positioned to help your business create and sustain an effective compliance policy. Since 2004, Vigilant has been the leader among regulatory compliance consulting firms; uniting regulatory compliance, legal, financial expertise and now paving the way to the Market for our clients.