compliance

Stronger integrity measures in store for a long-term EB-5 extension

Even as the EB-5 Regional Center Program received another short-term extension on December 9 with the Continuing Resolution, comprehensive program reforms and a long-term extension are projected before April 2017. In recent legislative draft proposals, a strong emphasis has again been placed on protecting stakeholder rights. The proposal language mirrors previous EB-5 legislative drafts, which [...]

December 16th, 2016|Categories: EB-5|Tags: , , , , , |

EB-5 Regional Center Program extended through April 2017

Replicating the high drama of the September 29 continuing resolution, the EB-5 Regional Center Program is set for another short-term extension through April 28, 2017. On December 6, 2016, Congress signaled that it would pass a new CR through a House-introduced Further Continuing and Security Assistance Appropriations Act. The Senate finally passed the CR with [...]

December 10th, 2016|Categories: EB-5|Tags: , , , , |

NES Financial completes SSAE 16 examination

NES Financial has once again successfully completed its annual compliance examination. Formerly known as SAS 70, the SSAE 16 SOC 1 Type II examination is a recognized compliance and controls standard used by leading banks and service providers across the financial industry. The examination mandates an in-depth review of control objectives and procedures throughout the [...]

November 15th, 2016|Categories: NES Financial|Tags: , , , |

NES Financial Completes SSAE 16 Examination

San Jose, CA, November 15, 2016 – NES Financial, a FinTech company with leading fund administration, loan servicing, EB-5 administration, and 1031 tax deferred exchange services, announced today the successful completion of its annual compliance examination. Formerly known as SAS 70, the SSAE 16 SOC 1 Type II examination is a recognized compliance and controls [...]

Private Equity Perspective: Band-Aids on bullet wounds!

For an industry that can’t even agree on common valuation guidelines, it comes as no surprise that software solutions exist in the same sort of patchwork orange, varying considerably from one private equity firm to the next. It might be said of private equity or private real estate that everyone does the exact same thing [...]

What everybody ought to know about the EB-5 Account Transparency Requirement

In recent years and as a response to isolated, high-profile fraud reports, several bills have been introduced in the House and Senate to include enhanced integrity measures that would reform the EB-5 Program and the EB-5 industry itself. With S. 1501 and H.R. 5992, respectively the American Job Creation and Investment Promotion Reform Act of [...]

November 2nd, 2016|Categories: EB-5|Tags: , , , , |

Maximize efficiency with integrated technology systems

Consider the disparate technology systems used in private equity fund administration. Between back-office, middle-office, investor relations, and compliance, the different technologies being used may contribute to critical inefficiencies and unnecessary exposure to risk. The back-office fund accountant and fund accounting groups may be using Excel and SS&C, which lack integrated applications and require manual waterfall calculations. [...]

October 25th, 2016|Categories: Fund Administration|Tags: , , , , |

Preparing for audits in a complex regulatory environment

After Dodd-Frank required private equity managers to register with the Securities and Exchange Commission (SEC), specialized units within the Division of Enforcement were created to audit funds. In a series of speeches from 2013 to 2016, the SEC showcased increased efforts and activity in regulatory oversight. Notably, the SEC announced approximately a dozen actions against PE firms, [...]

Meeting investor demands for customized reporting

One of the challenges private equity firms face is a growing demand for specialized reporting requests and customized templates from investors. The demand for specific reports and personalized data is a significant change from the single-page PDF reports of the past. Limited partners expect higher quality and intelligent information in these reports, extending beyond operational information [...]

4 Takeaways from the 2016 IIUSA EB-5 Industry Forum

This past week, our team attended the 6th Annual IIUSA EB-5 Industry Forum. While it was an honor to be a Premier Platinum sponsor and to hear Executive Vice President Reid Thomas speak on EB-5 program integrity, the invaluable experience of joining over 400 industry peers for two days was as refreshing as it was insightful. Here are [...]

October 13th, 2016|Categories: EB-5, Events|Tags: , , , , , |