On June 23, 2020, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a Risk Alert titled “Observations from Examinations of Investment Advisers Managing Private Funds” (the “Risk Alert”), highlighting common compliance issues observed by the OCIE staff (the “Staff”) in examinations of registered investment advisers that manage private equity funds or hedge funds (“Private Fund Advisers”). The Staff notes that many of the...By: Goodwin.