Smarsh Helps Hedge Funds and Private Equity Firms Prepare for SEC Registration

PORTLAND, Ore.–(BUSINESS WIRE)– Smarsh®, the managed service leader in secure, innovative and reliable email archiving and compliance solutions, is expanding its hedge fund and private equity client roster, as firms prepare for the upcoming SEC registration deadline. Many of the industry’s leading firms are tapping into Smarsh’s experience helping thousands of registered investment advisors meet SEC electronic recordkeeping obligations and navigate SEC registration and oversight. By partnering with Smarsh, these firms can design efficient, cost-effective and secure/maintainable email and electronic messaging compliance policies and processes in advance of SEC registration.
“Beyond just having the measures in place to meet the specific requirements of SEC registration, firms are looking to build a true culture of compliance across their organizations,” said Stephen Marsh, CEO and founder of Smarsh. “They recognize that compliance isn’t just a checkbox, and a robust program will not only minimize the impact of SEC oversight, but also help save time and money in e-discovery, litigation and internal investigations.”
Proactive Approach to Registration Readiness
The Private Fund Investment Advisers Registration Act, Title IV of the Dodd-Frank Wall Street Reform and Consumer Protection Act, eliminated the private adviser exemption afforded by Section 203(b)(3) of the Advisers Act, requiring many hedge fund and private equity fund managers to register as advisers with either the SEC or state regulatory authorities. With registration, firms will be obliged to meet specific recordkeeping requirements for email, instant messaging, social media and all other forms of electronic business communications, as detailed in SEC 204-2, Investment Advisers Act of 1940: Books & Record Maintenance. The deadline to register is March 30, 2012 and firms must apply for registration by February 14.
With the deadline quickly approaching and many firms putting a formal compliance function in place for the first time, Smarsh has compiled a series of educational resources to help firms understand the specific requirements for electronic communications recordkeeping and best practices for implementing new policies, procedures and technology to fulfill these obligations.
“Many firms don’t know what to expect from SEC oversight, so our goal is to not only provide a service designed specifically to meet electronic recordkeeping, supervision and data protection obligations, but also share insights from our experience helping clients through thousands of successful regulatory examinations and e-discovery requests,” added Marsh.
Support for Firms Registering for the First Time
As part of Smarsh’s efforts to ensure a smooth transition to SEC registration, Steve Marsh will moderate a panel discussion with industry representatives on the topic: Creating a Culture of Compliance: Your SEC Registration Checklist. The event will be held in New York City at the Four Seasons Hotel on Thursday, January 26th. For additional information or to register, contact Jessica Heath at jheath@smarsh.com or 503-946-5970.
Additional Smarsh resources for hedge funds and private equity funds are available at www.smarsh.com/privatefunds.
About Smarsh
Smarsh® provides hosted solutions for archiving electronic communications, including email, instant messaging and social media platforms such as Facebook, LinkedIn and Twitter. Founded in 2001, Smarsh helps organizations manage and enforce flexible, secure and cost-effective compliance and records retention strategies. For more information, visit www.smarsh.com or follow Smarsh at www.twitter.com/SmarshInc.
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