SEC3 is a leading provider of independent regulatory and compliance services.

Our consultants include professionals who have served as SEC regulators, chief compliance officers, experienced securities attorneys and senior management of investment advisers, broker-dealers and fund administrators.

SEC3's team brings together well over 100 years of auditing and operational due diligence experience, representing significantly more than 5,000 firm and fund reviews.

We offer a full suite of high-quality compliance and operational due diligence services to hedge fund, private equity, real estate and other advisers as well as investment companies, broker-dealers, transfer agents, administrators and banks.

CCO Communique

When should newly registered private fund managers expect to be examined by the …

The question on the minds of all new registrants. We now have the answer. Many should expect and prepare to be examined potentially this coming fall. At the GAIMOPs conference... Read more

JOBS Act

President Obama signed into law the Jumpstart Our Business Startups Act ("JOBS Act") which liberalizes the way private placements are conducted and allows general solicitation and general advertising. Some key aspects... Read more

Goodbye CFTC Exemptions - Hello Registration?

On February 9, 2012, the Commodity Futures Trading Commission ("CFTC") rescinded certain exemptions from registration previously available to private funds and SEC-registered investment companies that trade in commodity interests. Most importantly,... Read more

Treasury Filings

Forms SLT, SHC and S are part of the reporting requirements of Treasury International Capital ("TIC") reporting system administered by the U.S. Department of the Treasury. The TIC reporting system... Read more

SEC Registration Deadline: What We Can and Can't Tell You

SEC Associate Director Robert Plaze's April 8th letter to David Massey, President, North American Securities Administrators Association, Inc. ("NASAA") states, "We anticipate that the Commission will complete its implementing rulemaking... Read more

Beware: Making Political Contributions Could Limit your Business Opportunities

Pay to play is the practice of making campaign contributions and related payments to elected officials in order to influence the awarding of lucrative contracts for the management of public... Read more

Avoiding a Public Offer Through Private Fund Materials and Communications

We believe the beginning of 2011 is a suitable time to address several key issues facing investment advisers to private funds as they come to grips with the Dodd-Frank Wall... Read more

Application of the Adviser Act's Advertising Rule to Private Fund Managers

The holidays provide the opportunity for us take a step back from the routine, remind ourselves of our priorities, and gain fresh perspective. Instead of being forced back to work... Read more

Procrastination...

The effective date for the amended rules pertaining to the new ADV Form Part 2 is today, October 12th, 2010. Fortunately existing advisers have some lead time to comply. That... Read more