On August 7th, 2017, the Office of Compliance Inspections and Examinations ("OCIE") released its observations from its Cybersecurity 2 Initiative. The staff examined 75 firms consisting of broker-dealers, investment advisers, and investment companies ("funds") in order to assess industry practices and legal and compliance issues associated with cybersecurity preparedness.
Iron Cove Partners Named Best Global Insurance Provider in Hedgeweek's Global Service Provider Awards
For Immediate Release
Tags: Hedge Funds, Insurance, insurance, alternative asset management, best insurance provider, Iron Cove Posts, brokerage, cyber, directors and officers coverage, Directors & Officers Liability, Errors and Omissions, global, hedge fund, hedge funds, Hedgeweek, Insurance Industry News, Iron Cove Partners, louis d'agostino, SEC
We recently received a referral from a consultant who was asked to assist their client with the D&O insurance buying process. He reached out to us and asked if we can help as he felt his client needed more guidance and advice than they were getting. Who can blame them? Management Liability Insurance is complex and it's not a cheap purchase. Hence clients expect, as they should, to be educated on the product and how it will address their specific risks and concerns.
On October 11th, 2016, the Securities and Exchange Commission announced that, in fiscal year 2016, it filed 868 enforcement actions exposing financial reporting-related misconduct by companies and their executives and misconduct by registrants and gatekeepers, as the agency continued to enhance its use of data to detect illegal conduct and expedite investigations.
Tags: Insurance, insurance, Iron Cove Posts, Directors & Officers Liability, D&O, dodd-frank, hedge fund, Hedge Fund Regulation, Iron Cove Partners, Lou D'Agostino, Regulation, regulation, Risk, Risk Management, SEC, SEC Investigations
Who: New York Based RIA & Private Fund with $400,000,000 in assets under management.
SEC Administrative Proceeding Cites Violation of Advisers Act Due to Insurance Premium Allocation Practices
The SEC has commenced enforcement proceedings against a large greenwich based Hedge Fund siting violations of section 206(2), 206(4) and 206(4)-8 of the Investment Advisers Act in part resulting from inadequate insurance premium allocation methodology.
Tags: hedge fund insurance, insurance, Iron Cove Posts, Claims, Coverage, Directors and Officers Insurance, directors and officers liability, D&O, financial institutions, hedge fund, Iron Cove, Lou D'Agostino, Premium Allocation, Professional Liability, protection, regulation, Risk, SEC