Michael is a managing director in Deloitte’s Regulatory & Compliance practice and has over 20 years of experience in the investment management industry. Michael specializes in providing regulatory compliance, operations, and strategic business advisory services to investment advisers, investment companies, hedge funds, private equity firms, endowments, foundations, and pension plans.
Michael has assisted investment management firms conduct strategic assessments of their compliance programs adopted pursuant to Rule 206(4)-7 under the Investment Adviser Act of 1940 and Rule 38a-1 under the Investment Company Act of 1940 (collectively, the “Compliance Program Rules”). In addition, Michael has assisted newly registered investment advisers develop, implement and operationalize compliance policies and procedures designed to comply with the Compliance Program Rules. More recently, Michael has been assisting investment management firms modernize their compliance programs through the use of data analytics and data visualization. Michael has also worked on damage calculation and remediation projects related to SEC enforcement actions involving NAV errors, market timing, and allocation of expenses and management fees.
On behalf of his institutional clients (i.e., endowments, foundations, pension plans and family offices), Michael has conducted over 200 operational and compliance due diligence visits of external investment managers. In connection with these due diligence visits, Michael has assessed, among other things, governance and organizational structures, trading and brokerage processes (including best execution and soft dollar practices), investment compliance work-flows, middle- and back-office operations, and compliance activities of the external managers. Michael has also assisted investment management and institutional clients conduct business process and operational efficiency analyses, develop risk frameworks and risk mitigation plans, and conduct risk-based operational and compliance assessments.
Michael has presented at industry conferences and written articles regarding risk management, investment adviser due diligence, trading and investment compliance systems, and the SEC’s Compliance Program Rules.