Featured Regulatory & Compliance Article | Business Reporter's Future of Financial Services, Banking and FinTech Campaign

Hank Boughner headshotSpecial featured article on the Business Reporter web site, January 5, 2024.

There’s no escaping it: regulation in the financial services industry is trending upward. Financial firms’ ability to remain compliant is now deeply connected to their ability to collect, organize, and report on more granular sets of data.

As firms grow in scale and complexity, the massive amount of data they accrue becomes a two-sided coin. Their data is home to deeper levels of intelligence that can propel greater success and meet increased compliance needs—but only if they can manage it. Vast collections of disparate data sources are difficult to govern, report on, and deliver with efficiency. Unfortunately, this gap between granular data and reporting can pose serious consequences.

In August 2023, the SEC approved new rules for the regulation of private funds. According to the SEC, the final rules will require private funds to provide investors with quarterly statements detailing fund fees, expenses, and performance, a private fund advisor to obtain and distribute an annual financial statement audit of each private fund it advises, and, in connection with an advisor-led secondary transaction, an annual fairness or valuation opinion.


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