6g. PF - Private Fund Investor Quarterly Reporting Requirements (Intermediate - CLOSED)
In response to the new Private Fund rule, this session will explore challenges raised by quarterly statement requirements for Private Funds, including mandated forms of performance information and the tension with requirements for performance advertising under the Marketing Rule.
This session is closed to both regulators and members of the press.
Understand the new categories of Liquid and Illiquid Funds, including essential factors defining an Illiquid Fund.
Identify the various types of fees and expenses that must be disclosed; calculation methodologies to report accruals of performance fees, and contingency funds and other accounting issues related to fees and expenses.
Consider the disclosure necessary to make required investor reports complete and not misleading.
Learn tips on testing for completeness and accuracy.
Discuss commonalities and differences between presenting performance in a quarterly investor report and in an “advertisement” subject to the Marketing Rule and when a quarterly report may also be deemed an “advertisement” under the Marketing Rule.
