Stay to up to date on trends and breaking news impacting financial services and compliance, performance, risk and cybersecurity.
Ability to Once Again Allocate Cash to Carve-Outs
Ability to Once Again Allocate Cash to Carve-Outs The 2020 edition of the Global Investment Performance Standards (GIPS®) was released by CFA Institute on June 30, 2019, and it includes [...]
How are Advisers Selected for an OCIE Exam?
How are Advisers Selected for an OCIE Exam? WHAT HAPPENED? In Fiscal Year 2018, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission examined nearly [...]
2020 GIPS® Standards Expand Ability to Use Money-Weighted Returns
2020 GIPS® Standards Expand Ability to Use Money-Weighted Returns The 2020 edition of the Global Investment Performance Standards (GIPS®) was released by CFA Institute on June 30, 2019. One of [...]
SEC Accepts Public Comment on Private Securities Offering Exemptions
SEC Accepts Public Comment on Private Securities Offering Exemptions WHAT HAPPENED? Last month, the Securities and Exchange Commission released a request for public comment on how to improve the [...]
2020 GIPS® Standards: We Have You Covered
2020 GIPS® Standards: We Have You Covered WHAT HAPPENED? On June 30th, 2019, the 2020 edition of the Global Investment Performance Standards (GIPS®) will be released. Anticipated updates to the [...]
Regulation Best Interest: What You Should Know
Regulation Best Interest: What You Should Know WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI) which is intended to raise the [...]
Investment Adviser Overcharges Clients by $367,000, Charged with Fraud
Investment Adviser Overcharges Clients by $367,000, Charged with Fraud WHAT HAPPENED? On May 28, 2019, the Securities and Exchange Commission charged an investment adviser with overcharging clients by at [...]
Composite Minimums: Common Issues
Composite Minimums: Common Issues Firms have the option to specify a minimum size for composite inclusion. The purpose for establishing a composite minimum is to help define discretion, i.e., a [...]
Use of “May” in Form ADV Deemed Negligent by D.C. Circuit Court
Use of "May" in Form ADV Deemed Negligent by D.C. Circuit Court WHAT HAPPENED? In April, the D.C. Circuit Court of Appeals in Robare Group, Ltd. v. United States [...]
SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest
SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission announced the adoption of a package [...]
OCIE Warns of Cloud-Based Server Security Risks
OCIE Warns of Cloud-Based Server Security Risks WHAT HAPPENED? Last week, the Office of Compliance Inspections and Examinations (OCIE) discovered several security risks related to the storage of customer [...]
Form CRS: What You Should Know
Form CRS: What You Should Know WHAT HAPPENED? In April 2018, the SEC released a proposed rule which would require investment advisers to provide a relationship summary to prospective [...]
FINRA Cites Unreasonable Email Review
FINRA Cites "Unreasonable" Email Review - Firm Fined, Censured WHAT HAPPENED? On April 12, 2019, the Financial Industry Regulatory Authority (“FINRA”) issued a settlement with a Salt Lake City-based [...]
FINRA’s 2019 Entitlement User Accounts Certification
FINRA's 2019 Entitlement User Accounts Certification WHAT HAPPENED? The FINRA Entitlement Program requires an annual review and certification of user accounts to ensure that all persons with access to [...]
OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues
OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues WHAT HAPPENED? On April 16, 2019, the Office of Compliance Inspections and Examinations (OCIE) published a list of compliance [...]
SEC Officials Comment on Evolving Proxy Voting Process
SEC Officials Comment on Evolving Proxy Voting Process WHAT HAPPENED? In remarks during the ICI Mutual Funds and Investment Management Conference, SEC Commissioner Elad Roisman and Director of the [...]