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PCD - Common Mistakes

Anna Hentunen

Created on May 23, 2024

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Transcript

Undetermined / Eye Icon

Career Histories

Additional research required - 2 steps:

  1. Check PitchBook or Bloomberg for any majority owners.
  2. If any, check on FactSet the majority owner's public/priv status. This icon will determine how the PCD vetting test is answered.

When using FactSet, if a match can be made directly to the expert's employer, use this match. Why? Experts' career histories must be the accurate and up-to-date for complete visibility.

Unmatched

Employment Dates

For the PCD vetting test only, to identify if an expert is 12 months removed, do NOT include the month where the expert left their role at a public company when counting. Why? Impacts the PCD vetting test timeline. NB: Not applicable to recruitment policies.

No match found due to the company being too small. It is suitable to leave a company unmatched after checking the company's website URL and legal name does not appear on FactSet. Why? If a match is missed, this oversight can affect the PCD vetting test.

Common Oversights
  • Not matching to the expert's employer for stylistic edits when a match can be made. Remember: Career histories must be accurate.
  • Not updating or adding a recent career position after picking up a profile from another CST. This can impact the PCD vetting test. Key focus on positions within 12-months.
Common Oversights
  • Missing Step 2: Check FactSet after Pitchbook because we always defer to FactSet.
  • Not manually updating the explanation text under the PCD vetting test after an eye icon status impacts its answer due to the result of the majority owner. This text is visible to the Clients' Compliance Officers who use this information to approve an expert.
Common Oversights
  • Leaving companies unmatched without checking its legal name from the company's privacy policy on their website.
Common Oversights
  • Asking for the expert's exact date of leave from their former employer for the purpose of answering the PCD vetting test. This is no longer relevant!
For example, if an expert leaves their position at a public company in June 2023, the expert becomes 12-months removed in July 2024. It is irrelevant if the expert left on 1st June or 20th June 2023.