Kirkland AIM Kirkland & Ellis LLP

SEC Risk Alert Cites Frequent Advisory Fee and Expense Compliance Issues

In recent years, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has been focused on private fund managers’ fee and expense practices when examining registered advisers. On April 12, OCIE issued a Risk Alert detailing the most frequent advisory fee and expense compliance issues identified in examinations of registered advisers completed during the past two years.