Edward F. Thorp
Edward F. Thorp, CPA, is an accounting and audit partner at Anchin with experience servicing a variety of clients, including investment partnerships, mutual funds, investment advisors, private equity and venture capital funds, construction companies and employee benefit plans. Ed is Co-Chair of the Firm’s Compensation & Benefits Services Group and the designated in-charge partner for Anchin's membership in the AICPA Employee Benefit Plan Audit Quality Center.
Ed specializes in providing general financial reporting, tax advice, and financial management consulting to his clients. He works with his clients on business and administrative issues, including forming and operating businesses, in addition to assisting them with the formation of new funds. Throughout his career at Anchin, Ed has played a key role in guiding his clients in the execution of growth strategies while assisting with due diligence and structuring of transactions.
Ed is a member of the American Institute of Certified Public Accountants (AICPA), the New York State Society of Certified Public Accountants (NYSSCPA), the Managed Funds Association (MFA) and the Hedge Fund Association (HFA).
- Accounting and Auditing
- Compensation and Benefits
- Financial Services
- Private Equity
- SEC Clarifies Three Confusing Situations For The Custody RuleMay 25, 2017
The SEC’s Custody Rule continues to be a headache for registered investment advisers. The conditions are so unclear, it’s easy to inadvertently trigger custody rule violations. To help advisers adjust, the SEC recently issued clarification for three confusing situations under the rule.
- SEC Identifies Top 5 Compliance Issues Found in OCIE ExaminationsApril 6, 2017
Call it a wake-up call for registered investment advisers—the Securities and Exchange Commission (SEC) issued a Risk Alert, highlighting the top five compliance issues found in deficiency letters sent to SEC-registered investment advisers.
- Net Worth Threshold for “Qualified Clients” Increased by SECJuly 28, 2016
The U.S. Securities and Exchange Commission (“SEC”) has decided to increase the net worth test threshold for “qualified clients” effective August 15, 2016.
- New Tax Audit Rules Constitute a Radical Change for PartnershipsJanuary 27, 2016
Late in 2015, Congress passed the Bipartisan Budget Act of 2015 (the Act), which includes a complete overhaul of the procedures that apply to Internal Revenue Service (IRS) audits of partnerships and limited liability companies (LLCs) taxed as partnerships and their partners.
- 2016 SEC & FINRA Exam PrioritiesJanuary 25, 2016
The Office of Compliance Inspections and Examinations (“OCIE”) of the Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have released their Exam Priorities for 2016. Each of the regulators have organized their focus around a number of key issues.
- 2015 SEC Examination Priorities AnnouncedJanuary 20, 2015
Last week, the SEC announced its examination priorities for 2015. Three themes highlighted the areas of focus for the SEC’s Office of Compliance Inspections and Examinations ("OCIE"): Protection of retail investors and investors saving for retirement, assessing market-wide risk and using enhanced data analysis to identify those engaged in potential illegal activity.