“The SEC is just making it very clear to the industry that we’re expecting these private fund administrators to protect the fund and its investors,” attorney Will Atherton said.
August 15, 2023 at 06:02 PM
4 minute read
The U.S. Securities and Exchange Commission has increased its scrutiny of fund administrators who provide back-office support for investment managers, resulting in recent settlements, financial industry attorneys said.
The SEC refers to these administrators as “gatekeepers” and is increasingly holding them accountable for the alleged misconduct of their client firms, the lawyers said.
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