Relevant industry content we've curated covering a wide range of topics
Long-Liquidating Alt Fund May Begin Distribution Late This Year
Investors in a Wildermuth Advisory private-equity interval fund that announced liquidation in mid-2023 may start getting their money back this year.
The Wildermuth Fund, which lost its status as a regulated investment company in 2022 because of an overconcentration in illiquid assets, said that it will likely begin making distributions to shareholders in the latter part 2025 — but possibly later, according to a Tuesday filing with the Securities and Exchange Commission.
Liquidating a fund like Wildermuth, which includes early-stage private-company assets, can be difficult, because those assets require a specific buyer, David Goldstein, director of product for fund services at STP Investment Services, said last week.
Read David’s comments in Ignites here.
STP Investment Services Joins Global Elite With Miami Family Wealth Report Award
STP is thrilled to announce that we have been selected the winner for the 2025 Miami Family Wealth Report Awards for RegTech Solution, positioning us as a trusted advisor serving the family office and family wealth space.
The annual Miami Family Wealth Report Awards program recognizes the most innovative and exceptional firms, teams and individuals serving the family office, family wealth and trusted advisor communities in Miami, Latin America & the Caribbean.
Coinbase Ruling Will Let Trump’s SEC Clarify Its Crypto Stance
The SEC’s days of policing the cryptocurrency industry without formal rules are waning after a federal appeals court instructed the agency to provide a better rationale for rejecting Coinbase Global Inc.’s request for crypto-specific rulemaking.
The cryptocurrency exchange on Jan. 13 got a nod from the US Court of Appeals for the Third Circuit in its bid to force the Securities and Exchange Commission to clarify when and how federal securities laws apply to digital assets, though the judges stopped short of explicitly ordering the agency to write a rule.
STP’s Cynthia Kelly, Senior Compliance Consultant, stated, “The crypto industry is asking for more clarity to ensure compliance and not operate in a regulatory gray area.”
Read more on this article in Bloomberg Law here.
Liquidated Alts Fund Has Investors Still Waiting – 18 Months Out
More than a year and a half after Wildermuth Advisory disclosed it would shutter a private equity interval fund, investors are still waiting for their money back.
And the timing of the liquidation process is still anyone’s guess, regulatory filings show.
STP’s David Goldstein, Director of Product—Fund Services, caught up with Sean Teeham to discuss this matter.
“When you have a fund holding private positions, you need a buyer to liquidate. It’s not like owning shares of Ford, and you decide to sell them, so you go on E*Trade and initiate a sale. How do you valuate something that is not for sale?”
Read more about this and what David had to say in Ignites here.
The TRADE predictions series 2025: A macro outlook on the markets
The coming change in US administration will see a front-loaded agenda of policy change in 2025. The reaction function of policy makers will be tested, with multi-lateral negotiations to be expected between the US and its trading partners – with uncertain results and even incongruent outcomes relative to current expectations. Adding to this, varying enthusiasm by central bankers and Treasury officials to lean on monetary and fiscal policy levers to stabilise growth, will see policy divergence and more importantly, policy miscalculation as the central theme over 2025.
The TRADE predictions series 2025: Post-trade and the shift to T+1
There will be greater focus in 2025 on European competitiveness, with regulators needing to strike the right balance between fostering growth, competition and innovation in clearing on one hand and maintaining regulatory oversight and financial stability on the other. Central clearing will play a key role in this debate, which will be essential for advancing the region’s capital markets, and we look forward to Emir 3.0 helping in this regard.
STP’s Fundraising Predictions
Fundraising Predictions Are In!
Established firms will continue to attract the majority of new capital, but emerging managers who tend to charge lower fees will get more attention from allocators looking for new areas to place their funds.
David Goldstein, STP Investment Services
Third-Party Cyber Risk Likely to Stay a Focus for Trump’s SEC
The agency under the Trump administration is expected to focus on cybersecurity controls in its examinations at a time when cyberattacks are considered one of the top threats to financial services firms.
STP’s Lori Weston, Head of Compliance, said, “Cybersecurity has been a regulatory concern for over a decade, and now we’ve got that emerging issue of artificial intelligence. At the end of the day, it’s still the advisor that’s responsible for protecting their firm and client data. So, politics aside, with the proliferation of methods that cyber criminals use to access data, firms should expect that they and their vendors will experience a breach at some point. It’s a question of when, not if.”
STP Shortlisted for Best Fund Administration Service
STP is thrilled to announce that we have been shortlisted for the 2025 Private Asset Management Awards for Best Fund Administration Services recognizing STP as one of the best in the private wealth management community.
Now in its 21st year, the Private Asset Management Awards honor outstanding achievements in the US private wealth management space. For over two decades, these Awards have provided a platform for top investment professionals, wealth advisors, legal firms, consultants, and other key service providers operating within the sector to showcase their accomplishments.
STP Shortlisted for Best Back/Middle Office Tech Provider
STP is thrilled to announce that we have been shortlisted for the 2025 Fund Intelligence Operations & Services Awards for Best Back/Middle-Office Tech Provider for our BluePrint product, positioning us among the nation’s top innovators.
Year-over-year, the With Intelligence Fund Operations and Services Awards recognize and reward fund service providers who have demonstrated exceptional client service, innovative product development, and strong and sustainable business growth in 2024. The rigorous judging process, based on the views of a panel of leading industry experts, ensures that the awards recognize those driving up service standards across the sector and stand out from the crowd.
The Biggest Compliance Traps Happening At Your Firm
As a compliance officer responsible for administering your firm’s compliance program, you are keenly aware of your firm’s compliance risks, but are you aware of the biggest compliance traps happening at your firm? The SEC requires advisers to implement compliance programs designed to mitigate these risks. As news of SEC enforcements continue to be reported, you’re likely evaluating whether your firm’s compliance program could withstand similar regulatory scrutiny. If you find yourself thinking, “that’s not us,” it may be time to dig deeper. Your firm may have compliance vulnerabilities that aren’t obvious, yet could pose significant regulatory risks.
STP Differentiates Investment Services with ComplianceAdvisor for BuySide Firms
STP Investment Services has introduced STP ComplianceAdvisor, a new practice aimed at providing comprehensive compliance solutions for investment firms. This expansion leverages STP’s existing expertise in technology-enabled investment servicing to address the growing demand for compliance assistance among its investment advisory clients.
