The Ledger Collection: June 2017

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Enterprise Risk Management – A Valuable Process

Boards and senior management of not-for-profit organizations recognize that identifying risks and managing those risks are a critical responsibility. Enterprise risk management (ERM) is a process which the board and senior management are proactively involved. Risk is managed and assessed across the entire organization. Identifying, considering and developing responses to potential events, both internal and […]

Risk Or Growth: Are Pace Loans For You

As the economy continues to improve, financial institutions are looking to aggressively grow their loan portfolios and improve yields on assets. There are a wide variety of loan purchase/participation opportunities available, such as mortgage pools, SBA and USDA loans, and participation on larger loans with other institutions. One program, Property Assessed Clean Energy (PACE), that […]

2017 U.S. Water Industry Outlook

Water made headlines in main street newspapers in 2016, with the major contamination discovery in Flint, Michigan, the drought in California, and the presidential campaign. These headlines highlight how vital water is to the U.S. economy and the American people, and the challenges the industry faces. Over the years, our Outlook has advocated that water […]

SMEs and Global Growth: The High-Tech Advantage

To a greater extent every day, information technology is leveling the playing field for small and mid-sized enterprises (SMEs). Export markets, in particular, are no longer the exclusive domain of large players with the resources to field global sales and production staffs. Today, even start-ups can use the Internet to sell abroad, and to commission foreign firms to produce their designs cheaply.

The Benefits of an Audit of Your Registered Investment Advisor

Over the past few years, we have witnessed continued interest in mergers, acquisitions and consolidations of Registered Investment Advisers (“RIAs”). Acquisitions of RIAs are motivated by higher management fees with the growth of assets under management (“AUM”), the possibility of incentive fees revenue, diversification of asset base, and the potential for expense reduction.

Regulatory Developments In The Financial Industry

The SEC Division of Investment Management issued Guidance Update No. 2017-03 applicable to situations in which an operating company may find that, upon the occurrence of an extraordinary event, it meets the definition of an investment company under the Investment Company Act of 1940, as amended (the “1940 Act”), even though that operating company intends to remain in such status only temporarily.