December 20, 2019 Alert

Hi all,

Below are this week’s alerts for the Investment Network.  Note that there will be no further alerts until the New Year in honor of the holidays.  Happy holidays!  We wish you the best for the New Year.

This Issue’s Topics:

  • FREE: Washington DC Compliance Roundtable: CFTC Adopts Rules Streamlining the Regulations for Commodity Pool Operators and Commodity Trading Advisors
  • 100 Women in Finance EDUCATION SESSION #1081: How Mindfulness Helps You Improve Attention, Manage Stress and More
  • ACG Chicago Sunset Session: Key Considerations and Lessons Learned: Why PE Funds Need to Care About Revenue Recognition
  • REMINDER: Hedge Fund Association Symposium: Philanthropy & Charitable Giving 50-Day Countdown!
  • ACG Chicago: 21st Annual Midwest Capital Connection

Events:

FREE: Washington DC Compliance Roundtable: CFTC Adopts Rules Streamlining the Regulations for Commodity Pool Operators and Commodity Trading Advisors
Thursday, January 23, 2019, 3:30-5:30 P.M. (networking to follow)
Stradley Ronon, 191 N. Wacker Dr., Suite 1601, Chicago, IL (live connection to DC)

Join us and Amanda Olear, Acting Deputy Director of the Commodity Futures Trading Commission (“CFTC”), to learn about and discuss the CFTC’s recent amendments to the Part 4 Regulations. These amendments intend to simplify the regulatory obligations of commodity pool operators (“CPOs”) and commodity trading advisors (“CTAs”). 

In this session, we will cover the CFTC’s codification of various long-standing staff advisories and no-action letters, as well as its harmonization of relief with other regulators, such as the Securities and Exchange Commission (“SEC”). 

CFTC rule amendments that we will discuss in this session include:

  • Adoption of CPO and CTA exemptions for entities meeting definition of “family office,” similar to the exclusion from investment adviser registration provided by the SEC;
  • Permission of general solicitations by private funds operating under Rules 4.13(a)(3) and 4.7 to correspond with securities law amendments to Regulation D and 144A;
  • Clarification that the Rule 4.5 exclusions for registered investment companies (“RICs”) should be claimed by the entity that solicits for the fund, which is typically the registered adviser (opposed to the fund itself);
  • Inclusion of business development companies (“BDCs”) in the Rule 4.5 exclusion from CPO registration, similar to the treatment of RICs; and
  • Elimination of certain filing requirements in connection with Forms CPO-PQR and CTA-PR.

Amanda Olear is Acting Deputy Director for the Registration and Compliance Branch and Associate Director in the Managed Funds and Financial Requirements Branch in the Division of Swap Dealer and Intermediary Oversight (DSIO) at the Commodity Futures Trading Commission (CFTC).  Ms. Olear has worked at the CFTC since 2007 and has focused on the operations of commodity pool operators and commodity trading advisors, but more recently has expanded her responsibilities to include registration and compliance issues involving swap dealers, introducing brokers, and associated persons.  Ms. Olear regularly advises members of the public regarding the application of Part 4 of the CFTC’s regulations. 

Ms. Olear received her J.D., with honors, from the University of Maryland School of Law in 2004, where she was inducted into the Order of the Coif.

Nicole Kalajian of Stradley Ronon will moderate and host the Chicago session.  E-mail Kathy Petrusek at kpetrusek@stradley.com to register.

100 Women in Finance EDUCATION SESSION #1081: How Mindfulness Helps You Improve Attention, Manage Stress and More
Thursday, January 23, 2020, 5:00(Registration)-5:30 P.M. Event Begins
DRW Holdings, LLC, 540 W. Madison, Suite 2500, Chicago, IL

Life in a 24/7 always-on world, filled with information and distraction, can lead to greater anxiety and stress, making it difficult to operate at your best. Mindfulness can help. This session, with speaker, Robin Ross of OptimizeU Leadership Coaching, will give you practical tips to incorporate mindfulness into your daily routine. Learn to improve your attention, increase self-awareness and manage stress. People who practice mindfulness develop skills as resilient leaders and use it to build healthy, effective and sustainable teams.

Following the workshop, share your experience with your peers as you network over refreshments.

The program will begin promptly at 5:30 PM; please allow time to get through building security and to register before the event begins. Those arriving after registration has closed will NOT be admitted and will be subject to a “No-Show Fee.”  Networking reception will follow.

For more information, click here.

ACG Chicago Sunset Session: Key Considerations and Lessons Learned: Why PE Funds Need to Care About Revenue Recognition
Thursday, February 6, 2020, 4:00-6:30 P.M.
Plante Moran, 10 S. Riverside, Chicago, IL

One year into the implementation of the new revenue recognition standard, ASC 606, we have a comprehensive understanding of the challenges private equity and portfolio companies are facing. Even though the guidance has been out for a few years, with most nonpublic companies adopting as of January 1, 2019, PE funds need to make sure they are paying attention. If you don’t have a full understanding of the new standard, you might not recognize the real impact to your top line. With trend numbers no longer indicators of performance – do you know your real growth or decline?

With many complicated nuances, the standard has the potential to impact companies across all industries in areas including new investments, valuation model adjustments, and exit strategies. Through our engagements, we’ve learned what to watch out for and key considerations during adoption.

For more information, click here.

REMINDER: Hedge Fund Association Symposium: Philanthropy & Charitable Giving 50-Day Countdown!
Tuesday, February 25, 2020, 4:30-7:30 PM
150 N. Riverside, Chicago, IL (river front view!)

Please join us 50 days prior to April 15th (tax day) for this timely HFA Symposium, Philanthropy & Charitable Giving: The 50-Day Countdown. An outstanding panel of speakers, including advisers, impact investors and philanthropists, will share actionable insights, non-traditional strategies and fascinating case studies. Attendees will enjoy valuable takeaways, Q&A opportunities and a networking cocktail reception after the panel program. Symposium topics include:

  • Identification of new trends and innovative approaches to philanthropy.
  • When embarking on a new strategic initiative, what type of legal and/or tax structures should be considered or chosen and why?
  • How does impact investing balance sustainable social change with economic returns?
  • How can collaborative non-traditional options achieve broad community impact?

The speakers will be Ric Estrada of Metropolitan Family Services, Jennifer Gniady of Stradley Ronon and Suzanne Currie of Celadon Financial Group.  Nicole Kalajian of Stradley Ronon will be moderating the Symposium. 

For more information, click here.

ACG Chicago: 21st Annual Midwest Capital Connection
May 27 – 28, 2020
Radisson Blu Aqua Hotel, 221 N. Columbus Dr., Chicago, IL

The ACG Chicago Capital Connection is the premier networking event in the Midwest for leading investment bankers and capital providers to host meetings with other dealmakers. This event provides the opportunity for companies in all facets of corporate growth to drive new investments and dealflow.

Why attend?

  • 80 investment banking firms already registered
  • Scheduling software built for Capital Connection to maximize dealflow
  • Targeted sessions led by industry leaders
  • Capital Cocktails (more than just wine this year)

 For more information, click here.

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