Convergence Inc

Are you scared of the quality of data you get from legacy providers - questionable coverage and accuracy - sourcing models that should be questioned? YOU SHOULD BE! Happy Halloween !! #daas #datacoverage #dataaccuracy #datacompleteness

Hot off the press. Based on our Q3 YTD data, 2024 is shaping-up to be a good year for growth in #privatefunds. #investmentmanagers, #fundadministrators, #auditors, #primebrokers, #custodians, #marketers and all other service providers should contact us to see where the growth is coming from because to paraphrase Jim Cramer, "bull and bear markets exist in every general market,." So call us to learn more about it and how you can take advantage of it. Enjoy your weekend! #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #operationalduediligence #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions U.S. Securities and Exchange Commission U.S. Department of Labor OCIO Public Company Accounting Oversight Board (PCAOB) #primebrokers #investors #intervalfunds #Barrons #WallStreetJournal #GlobalCustodian The Wall Street Journal Barron's Financial Times Financial Conduct Authority CNBC

Apollo Global Management, Inc.’s Ambitious Goals Include a Bet on Americans Changing Savings Habits The #democratizationofalternativeinvesting is well underway as Apollo has struck several deals with #wealthmanagement platforms including CIT and BNY. Americans are in dire need of growing their retirement savings by increasing returns in uncorrelated markets. Convergence Inc paper "Democratization of Alternative Investing cites the benefits and challenges to #RIA #Investors #FundServices providers and #Regulators (U.S. Securities and Exchange Commission and the U.S. Department of Labor OCIO. We specifically discuss the business profiles of #RIAs likely to garner the most assets from existing sources (#401ks and #IRAs) and new sources. Click the link below to hear Apollo CEO Marc Rowan's take on the subject. Apollo's stock finished-up $5.68% at $132.01. Do you think that Firms like Apollo and Blackstone are going to be the ultimate winners in this new gold rush? Please comment or like. #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #forensicaccounting #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions U.S. Securities and Exchange Commission U.S. Department of Labor OCIO Public Company Accounting Oversight Board (PCAOB)

U.S. Securities and Exchange Commission Charges and Censures Advisory Firm GQG Partners With Violating Whistleblower Protection Rule fining them $500,000. According to the SEC’s order, from November 2020 through September 2023, GQG entered into non-disclosure agreements with 12 candidates for employment that prohibited them from disclosing confidential information about GQG, including to government agencies. While the agreements permitted the candidates to respond to requests for information from the Commission, it required notification to GQG of any such request and prohibited responding to requests arising from a candidate’s voluntary disclosure. The SEC’s order finds that GQG also entered into a settlement agreement with a former employee whose counsel had told GQG that he or she intended to report alleged securities law violations to the Commission. Specifically, the settlement agreement said that it permitted reporting possible securities law violations to government agencies, including the Commission; however, it also required the former employee to affirm that he or she had not done so; was not aware of facts that would support an investigation; and would withdraw any statements already made that might support an investigation. These provisions violated the whistleblower protection rule. Convergence Inc scored the non-investment risk in GQG's business model as "Medium-Watch" during the infraction period. High Risk factors existed in Compliance and Operations. If you want to learn more about the non-investment risk in #rias and their correlation to cases like GQG, email jphinney@convergenceinc.com. https://lnkd.in/eB3KRB43 #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #operationalduedilignece #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions Public Company Accounting Oversight Board (PCAOB)

U.S. Securities and Exchange Commission censures and fines Macellum Advisers L.P $75,000 for Conflict of Interest Disclosure Failures and Inadequate Compliance Policies and Procedures. Macellum’s written policies and procedures also were not reasonably designed to prevent violations of the Advisers Act because they failed to address the conflicts of interest related to the receipt of payments from outside unaffiliated investment advisers that invested alongside Macellum clients and to ensure that such arrangements were appropriately documented. Convergence Inc scored the non-investment risk in Macellum's business model as "High" during the infraction period. High Risk factors existed in Compliance and Operations. And the conflicted CCO risk existed. If you want to learn more about the non-investment risk in investment advisers and their correlation to cases like Macellum, email jphinney@convergenceinc.com. #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #forensicaccounting #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions Public Company Accounting Oversight Board (PCAOB)

U.S. Securities and Exchange Commission Levies More Than $3.8 Million in Penalties in Sweep of Late Beneficial Ownership and Insider Transaction Reports. SEC used data analytics to detect these violators. The charges announced yesterday stem from SEC enforcement initiatives focused on Schedules 13D and 13G reports and Forms 3, 4, and 5 that certain corporate insiders are required to file. Schedules 13D and 13G provide information about the holdings and intentions of investors who beneficially own more than five percent of any registered voting class of public company stock. Forms 3, 4, and 5 are reports used to provide information about public company stock transactions by corporate officers, directors, or certain investors who beneficially own more than 10 percent of the stock. These reporting requirements apply irrespective of whether the trades were profitable and regardless of a person’s reasons for the transactions. SEC staff used data analytics to identify the charged individuals and entities as filing required reports late. The firms charged in connection with beneficial ownership of publicly traded companies and their respective penalties and Convergence Inc Non-Investment Risk Scores are: Stilwell Value - $75,000 - Medium-Watch - $250mm AuM Bain Capital Credit Member, LLC - $130,000 - High-Watch -$187bn Aum Fortress Investment Group - $200,000 - High-Watch - $80bn AuM Adage Capital Management - $200,000 - Medium-Watch - $51bn AuM Essex Woodlands Management - $225,000 - Medium-Watch - $2.5bn AuM The Goldman Sachs Group, Inc. - $300,000 - High-Watch - $223bn AuM Oaktree Capital Management - $375,000 - High-Watch - $162bn AuM Sunbeam Management, LLC - $40,000 - Not Registered Grays Peak Ventures LLC - $65,000 - Not Registered BSC, LP - $75,000 - Not Registered The Bank of Nova Scotia - $375,00 - Not Registered Alphabet Inc. - $750,000 - Not Registered TALANTA Investment Group - $45,000 - Not Registered https://lnkd.in/ev_YmPTB #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #operationalduediligence #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions #13D #13F #Form3 #Form4 finra.org Public Company Accounting Oversight Board (PCAOB) #law #privatefunds

U.S. Securities and Exchange Commission orders Fusion Investment Advisors LLC d/b/a Coppell Advisory Solutions, LLC and Fusion Capital Management (“Respondent” or “Fusion”) to pay disgorgement, prejudgment interest, and a civil penalty totaling $258,466.35 for its failure to fully and fairly disclose material facts and #conflictsofinterest with respect to its receipt of certain #compensation, as well as material facts regarding its fee calculations between 2019-2022. This $850mm #RIA advised almost 8,000 Individual and High Net Worth investors and carried multiple high-risk compliance factors during the citation period including multiple types of advisory services and fees and disclosed regulatory infractions for 2 advisory affiliates. #hedgefunds #privateequity #realestate #duediligence #riskmanagement #forensicaccounting #compliance #rias #fundadministrators #auditors #datascience #AI #venturecapital #duediligence #odd #operationalduediligence #fraud #riskmanagement #infrastructurefunds #investmentbanks #mergers #acquisitions