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30 Apr 2024

SBAI Response to FCA CP 24-2 Enforcement Guide and Publicising Enforcement Investigations

In our response to this Consultation, we outline our thoughts on how existing industry practices could be improved to achieve the desired outcomes, while highlighting our concerns in relation to the publication of early details related to ongoing enforcement cases.

Consultation Response

26 Jan 2024

GP-Led Secondaries: New SEC Rules Impact on Valuations and Conflicts of Interest

The Securities and Exchange Commission (SEC) has introduced new rules to address conflicts of interest when advisers offer investors the choice between selling or exchanging their interests in a private fund for interests in another vehicle managed by the adviser or related parties. In this piece, we explore the impacts of these new rules for investors and managers and highlight considerations for effective implementation.

Memo

11 Sep 2023

Recordkeeping & Third Party Messaging Apps

Recent and ongoing enforcement actions by US regulators highlight the importance of maintaining compliance with recordkeeping requirements.

Memo

11 Sep 2023

SBAI's Initial Assessment of the SEC's Private Fund Adviser Rule

Our initial assessment of the SEC's Private Fund Adviser Rule[1] is that while there is less prohibition and more disclosure, it remains overly prescriptive. While some controversial aspects in the original proposal have been modified, the rule will bring significant changes to the regulation of Private Fund Advisers that may still fail to address the root of governance failures.

Article

30 Nov 2022

SBAI Publishes Guidance on Internal Governance - A Roadmap for Asset Managers

Press Release

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30 Nov 2022

Internal Governance for Asset Managers - A Roadmap

Governance arrangements for a firm will depend on firm size and complexity of strategy. This memo provides a roadmap for governance structures during the life cycle of a firm.

Memo

12 Jul 2022

Podcast Episode 5: Founder Series - Paula Volent and Luke Ellis

In the first of our Founder series podcasts, one of our newest Trustees Paula Volent (CIO of Rockefeller University) is joined by our Deputy Chair Luke Ellis (CEO of Man Group – one of the founders of the SBAI) to look back at how it all started and how the industry is evolving. They discuss the SBAI, where to find alpha, diversity and more.

Podcast

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09 Aug 2021

Guidance – China Alts Managers Expanding Offshore (English)

Access for global institutional investors to Chinese onshore managers can be challenging. This memo provides guidance on the regulatory and practical differences between onshore China and offshore Hong Kong and Singapore for Chinese onshore managers looking to expand offshore.

Memo

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09 Aug 2021

Guidance – China Alts Managers Expanding Offshore (in Chinese)

关于中国内地与香港和新加坡离岸地区之间监管和实践差异的指南

Memo

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12 Jul 2021

Indemnification Wording in Fund Governing Documents

Informational memo covering the scope of language, potential issues and considerations, and questions investors should ask in due diligence.

Memo