NEW YORK--(BUSINESS WIRE)--BDO USA, LLP, one of the nation’s leading professional services organizations, today announced the addition of real-time monitoring of Form ADV filings to its eConnaissance investigative due diligence platform. The addition comes ahead of the U.S. Securities and Exchange Commission’s (SEC) Oct. 1 compliance deadline regulating changes to Form ADV filing requirements, including increased disclosure around separately managed accounts and clarification for the use of “umbrella” registration.
Investors using the eConnaissance platform will now be able to receive real-time notifications of changes in Form ADV filings for more than 1,400 SEC-registered entities, making the platform the first to monitor for public and regulatory fund manager filings. The new feature also allows users to compare new and old Form ADV filings from a single fund manager, enabling investors to quickly and easily identify if, and to what extent, their risk exposure has changed.
“By adding Form ADV monitoring to the breadth of records that eConnaissance monitors in real-time, we are equipping our clients with the ability to make much quicker decisions about changes to their investment managers’ risk profile,” said Timothy Mohr, principal and leader of BDO’s Financial Services Advisory practice. “Investors no longer need to wait three, six or even 12 months to receive this information. The ability to compare old and new Form ADV filings within the same platform also offers a tremendous advantage to investors by providing improved transparency.”
Launched in February 2016, eConnaissance is the ground-breaking platform providing investors with a continuous monitoring service and daily intelligence feeds on fund managers to strengthen investor risk management safeguards. The service is used by fund of funds, investment banks, private equity firms, institutional allocators and family office investors.
“When it comes to portfolio risk, a lack of transparency can be lethal,” said Joann Arweiler, managing director and leader of BDO’s Investigative Due Diligence practice. “The sooner investment risk is discovered and addressed, the better. By allowing more than a year to pass between investigations, investors unnecessarily expose themselves to risks that may have been identified and mitigated had they been discovered sooner. Closing that visibility gap was the driver behind the launch of eConnaissance.”
The addition of Form ADV monitoring is the latest in a series of enhancements to the eConnaissance platform, each designed to deliver investors with increased risk transparency through real-time monitoring of their investment managers. Since the launch of the platform, eConnaissance has delivered more than 11,000 investor alerts, including approximately 800 adverse alerts, 500 new court dockets, 100 new lawsuits, and 150 new judgements or liens.
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, advisory and consulting services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and more than 500 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of 1,400 offices in 158 countries.
BDO USA, LLP, a Delaware limited liability partnership, is the U.S. member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. BDO is the brand name for the BDO network and for each of the BDO Member Firms. For more information please visit: www.bdo.com.