The SEC Office of Compliance Inspections and Examinations, or OCIE, has published its list of 2016 examination priorities. Matters of interest for private equity and hedge fund sponsors include:

  • OCIE will continue conducting focused, risk-based examinations of selected registered investment advisers that it has not yet examined.
  • OCIE will examine private fund advisers, maintaining a focus on fees and expenses and evaluating, among other things, the controls and disclosure associated with side-by-side management of performance-based and purely asset-based fee accounts.