Director, Division of Examinations
U.S. Securities and Exchange Commission
Peter Driscoll was named Director of the U.S. Securities and Exchange Commission’s Division of Examinations (formerly, the Office of Compliance Inspections and Examinations, called OCIE) in October 2017, after serving as Acting Director since January 2017
» Considerations for private fund compliance managers in the new administration
» Lessons learned in managing risk during COVID-19
» Procedures for diversity and ESG implementation
» What you need to know about the new marketing rule
» The proposed HSR rule changes
» CCO and CFO and COO and…small(er) firm compliance challenges
» CCO/GC Think-Tank
General Counsel and Chief Compliance Officer
NovaQuest Capital Management
Managing Director and Chief Compliance Officer
Stone Point Capital
Chief Compliance Officer
Managing Director, General Counsel & Chief Compliance Officer
Earn CLE & CPE credits
New for this year, CLE credits are now available! In addition to CPE, PEI is pleased to offer our attendees continuing legal education credits.
Gain actionable tools & strategies
Acquire tips and tricks for structuring and running an effective compliance program from experienced CCOs, General Counsels and the SEC.
Connect with your peers
This unique event affords compliance professionals the opportunity to exchange ideas, benchmark strategies and learn how to handle current trends impacting the industry.
Previous attendees included:
What our attendees say about the Forum
This is the most informative of the conferences I do every year
Leerink Capital Partners
One of my go to events each year due to the timely program content and excellent panelists.
Excellent event, with all topics being highly relevant
Earn CLE & CPE credits
PEI is registered with the National Association of State Boards of Accountancy
(NASBA) as a sponsor of continuing professional education on the National Registry
of CPE Sponsors. State boards of accountancy have final authority on the acceptance
of individual courses for CPE credit. Complaints regarding registered sponsors may
be addressed to the National Registry of CPE Sponsors through its website: www.
If you are interested in a speaking role at the 2021 virtual Forum, please contact Kellie Green at email@example.com.
Day 1 - Wednesday 12th
Opening Keynote Interview | Risk alert: conflicts of interest, fees and expenses, & code of ethics rules
- Risk alert: what is of a particular interest to the SEC at this time?
- Conflicts of interest
o What are recommended controls and processes in this respect?
o Suggested procedures for allocating deals across funds
o When a conflict arises in the course of business, how to address/mitigate it since it can’t be disclosed in advance?
- Fees & expenses
o How are expenses allocated at a portfolio company level?
o What additional items are managers looking to charge back? What mechanism do firms have in place to review “gray” expenses which are not clear? What about one off expenses or if an expense is not mentioned in an LP agreement?
o How can compliance teams ensure that these items are appropriately disclosed?
o How to operationally monitor fees and expenses allocation?
o What processes do firms have in place to ensure expenses charged to LPs are in accordance with fund documents? (back-testing; sampling of expenses charged to funds; monthly internal reports that need to be reviewed? etc.)
o Allocation of expenses
o Suggested ways for allocating expenses across funds – what do firms generally do?
o Suggested strategies around dead deal expense allocations
- Code of ethics rules
o Establish, maintain, and enforcing written code of ethics policies and procedures
Panel Discussion | Biden administration: considerations for private fund compliance managers
- The new SEC chair appointed by Biden will likely adopt a more aggressive approach to congressional oversight and increase in the number of enforcement actions
- What initiatives will be deprioritized?
- How are your peers reviewing and tightening their compliance programs to prepare
- Progress made by American for Sale and perception of the role PE plays in the economy
- Rulemaking around sharing deficiency letters
- Corporate Tax Rates: Capital Gains/Carried Interest
Breakout session A | COVID 19: lessons learned in managing risk
- We all learned from COVID-19 emergency can throw a wrench in your daily business operations at a moment’s notice
- What has been the impact of the Covid-19 and what strategies have been used to to cope?
- Key lessons learned from past disaster relief events and new procedures put in place
- What mechanisms would be useful to have in place to identify new risks as they arise (i.e., is it useful to have a risk committee or to have direct contact with senior management or something else?)
- What is the process by which a compliance professional can work to establish policies and procedures to mitigate risks?
Breakout session B | Diversity & ESG: compliance procedures for implementation & oversight
- How do you staff this ESG role, how do you set KPIs, what are the milestones and goals you should be working towards, and how do you measure success
- Clarity from DOL on ESG considerations
- LP influence on diversity & ESG
- Approaches that funds can take to incorporating ESG
- How do you set KPIs
- Where does it start, what are the milestones, what are the essential element
- How do you staff this ESG role, do have an internal committee or dedicated resources and what point do you need a dedicated resource or consultant
- What are you doing internally and what are you doing in terms of your portfolio
- Who is in charge of diversity initiatives
- Is there a playbook for the evolution of ESG at a PE firm
- ESG compliance issues including –
o How to incorporate ESG into investments
o How to monitor ESG compliance
o Is there a market for dedicated social impact funds
Lunch networking break
Panel Discussion | Cybersecurity: key considerations for a remote workforce & mitigating the impact of a cyber event
- What we learned from the SolarWinds hack?
- In light of the SEC’s requirement that fund managers be more involved, what should fund managers be doing with respect to their portfolio companies’ network security? What analyses should the firms be performing to asses cyber risk at their portfolio companies?
- How involved should compliance professionals be and what should they know? (e.g., should a CCO have IT personnel with him/her during exams?)
- Policies and procedures for breaches: In the event of a breach, what needs to happen and who does what?
- The impact of Covid-19
o What new processes were implemented?
o Cyber awareness for remote teams
Breakout session A | Advertising & solicitation: what you need to know about the new marketing rule for investment advisers
- The marketing rule reflects the evolving technology and how communications has advanced over the last decade
- How is advertisement defined
- What are the appropriate disclosures concerning various marketing practices
Breakout session B | Fund obligation management: strategies for streamlining operations
- How to cut legal costs, not quality
- How to outsource routine document processing such as NDAs to speed up your deal team’s internal processes
- How to use data from your legal contracts to set benchmarks and precedent
CCO & GC Only Think Tank Session
Exclusive closed-door session for private fund compliance managers to meet with peers in the industry to discuss the most pressing challenges having an impact on their role and responsibilities
Close of day one
Day 2 - Thursday 13th
Women's Networking Roundtable
Breakout session A | Conditional exemption for finders: the potential impact
- Explanation on the proposal and the two classes of Finders exempt from broker-dealer registration – Tier I Finders and Tier II Finders
- When would conditional exemptions for Finders apply?
Breakout session B | Key antitrust issues for private equity: proposed HSR rule changes
- How do you evaluate these types of risks as your portfolio companies structure their investment strategies?
- What ae the two amendments to current HSR Act rules?
- What are the implications from changing the definition of “person”
- How feasible is the proposed exemption for minority investments?
Networking lunch break
Breakout session A | The CCO/CFO/COO: unique challenges for those wearing many hats
- Small(er) firm compliance challenges
- Practical strategies for executing compliance functions for CCOs wearing dual or multi-hats
- What are the most important compliance tasks that need to be executed for an officer to feel comfortable that enough has been done?
- Effectively handling personal trading and its reporting requirements at a smaller firm
- What are the cybersecurity protections smaller firms should have in place?
Breakout session B | Moving from single to multiple strategies: cost-efficient approaches for dealing with the expanding compliance function
- What is there for a compliance officer to pay attention to when a new strategy (e.g., debt fund) is contemplated by a firm’s management?
- Practical strategies for dealing with conflicts when a firm is engaged in multiple strategies
- How to monitor and track these conflicts
- Should a specific conflict policy be in place?
Close of day two
PEI’s Private Fund Compliance Spring Forum events offer a unique opportunity for providers to engage and connect with senior compliance professionals in the private equity sector through thought leadership, networking, and more.
For exclusive sponsorship packages for 2021, contact Cristiana Crocco at firstname.lastname@example.org call +1 646 921 0923.
Satisfy your continuing education credit requirements
Up to 6.6 CPE credits
New for this year, attendees can now fulfill their CLE credit requirements in addition to CPE credits!
PEI is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.