Opening the books to investors
In a survey from sister publication pfm, the number of managers trying “very hard” not to disclose a deficiency uncovered via a routine exam by regulators increased by 7%.
Perhaps the only thing worse than a realised credit loss for alternative lenders is when the Securities and Exchange Commission comes a knocking; even when private debt managers have followed every rule in the book, federal regulators showing up and setting up camp in the main conference rooms can be quite distracting.