Alternative investment funds are coming under unprecedented scrutiny from an increasingly proactive Securities and Exchange Commission (SEC). The numbers speak for themselves. In 2013, the SEC opened up 908 investigations – a 12% increase on the year before – and obtained 574 formal orders of investigations, up 20% over the same period.
Based upon the historic number of enforcement investigations versus the size of the registered investment adviser registrant base, it is estimated that in today'
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