For all the hype around alternatives -- and there is no shortage -- investment advisors should take note that regulators are watching how the investment advisors are handling hedge funds, private equity funds and other non-traditional asset classes.
The SEC signaled its concerns about alternatives in the guidance it issued in early January outlining examination priorities for the coming year. Then, not three weeks later, the commission published a risk alert offering considerable detail about the precautions that advisors might consider before recommending that their clients go into alts.
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