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SEC marketing rule revisions and exam prep: Presentations from NAREIM Legal, Compliance & Risk 2022 Summer Connection

NAREIM Legal, Compliance & Risk 2022 Summer Connection presentations

July 26, 2022

During the NAREIM Legal, Compliance & Risk 2022 Summer Connection, members heard from two legal and compliance experts on how to best align your organization's compliance and risk management practices and processes with current SEC regulations and best practices—well in advance of an exam or enforcement. Issues raised by NAREIM members included calculating net fees for extracted performance or case studies, monitoring employee social media accounts, compliance with new requirements on third-party ratings and rankings, and steps for implementation.

Click here to view the agenda.

Click below to view presentations from the meeting. The attendee list can be accessed below.

New Advisers Act Marketing Rule for Real Estate Sponsors

  • Per SEC FAQ, all SEC-registered investment advisors must comply with all new requirements under Rule 206(4)-1 (the “Marketing Rule”), by November 4, 2022. Delivered by Josh Westerholm of Kirkland & Ellis LLP, this presentation highlights the issues, interpretive and otherwise, that real estate fund sponsors will need to confront in order to comply with the marketing rule. Download the full presentation and follow up with Josh Westerholm here.

SEC exam preparedness

  • With enforcement actions against advisors and investment companies on an uptick, the impact on private real estate funds and investors is only becoming more expensive and time consuming. Brian Robling of SEC Compliance Consultants (SECCC) presented a guide for real estate investment managers to better identify and analyze conflicts of interest through well-documented remediation, including strong disclosures, policies and procedures. Download the presentation, SEC resources and follow up with questions for Brian here.

Attendee list

  • Download the attendee list for the NAREIM Legal, Compliance & Risk 2022 Summer Connection here.

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