6g. PF - Preparing for PF Exams in the Aftermath of PFAR (Intermediate - CLOSED)

After the fifth circuit decision vacating PFAR, this session will explore what lessons can be learned from the PFAR proposing and adopting for private fund advisers as they prepare for examinations.

This session is closed to both regulators and members of the press.

Learning Objectives:

• Analyze the impact the decision has on private fund advisers.

• Discuss quarterly reporting – what examiners and investors may look for when it comes to fees and expense disclosure.

• Discuss preferential treatment - what matters on SEC exams now, and what can be learned from PFAR.

• Discuss restricted activities - what to be aware of if you engage in any of these activities.

• Dialogue about GP-led secondaries, audit requirement, written annual review. What impact, if any, does the decision have on these topics?

• Learn tips on testing for completeness and accuracy.

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