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Memo
11 Sep 2023

Due Diligence of Fund Administrators

The Securities and Exchange Commission (SEC) recently settled charges against Theorem Fund Services LLC (TFS), a Florida-based fund administrator. The charges revolve around TFS's failures to respond adequately to multiple red flags and clear indications of fraudulent activities associated with EIA All Weather Alpha Fund Partners and its manager.

TFS's failures highlight the pressing need for fund administrators to remain independent, vigilant, transparent, and committed to their responsibilities to protect investors.

In this memo, we highlight key due diligence considerations to ensure adequate expertise of fund administrators, mitigate operational risks, protect against conflicts of interest, and strengthen investor confidence.

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