Stay to up to date on trends and breaking news impacting financial services and compliance, performance, risk and cybersecurity.
SEC Charges Investment Adviser for “Improperly” Registering and Violating Multiple Rules
SEC Charges Investment Adviser for "Improperly" Registering and Violating Multiple Rules WHAT HAPPENED? On April 5th, 2018 the Securities and Exchange Commission (SEC) charged an Investment adviser for improperly [...]
SEC Office of Compliance Inspections and Examinations to Release New Cyber Exam Initiative
SEC Office of Compliance Inspections and Examinations to Release New Cyber Exam Initiative WHAT HAPPENED? On March 22nd, Peter Driscoll, Office of Compliance Inspections and Examinations (OCIE) Director, announced [...]
SEC Proposes Changes to Forms N-Port and N-1A Concerning Liquidity Disclosures
SEC Proposed Changes to Forms N-Port and N-1A Concerning Liquidity Disclosures WHAT HAPPENED? On March 14th, 2018, the Securities and Exchange Commission (SEC) voted to propose amendments to Forms [...]
Downloadable Resource for New ADV Reporting Obligation on Branch Offices
Downloadable Resource for New ADV Reporting Obligation on Branch Offices WHAT HAPPENED? As of October 1st, 2017, the amended Form ADV requirements include a new reporting obligation for Part [...]
Fifth Circuit Court of Appeals’ Split Decision Vacates DOL Fiduciary Rule
Fifth Circuit Court of Appeals' Split Decision Vacates DOL Fiduciary Rule WHAT HAPPENED? On March 15th, the Fifth Circuit Court of Appeals vacated the Department of Labor’s (DOL) Fiduciary [...]
Bookkeeping Service Considered Custody, Leads to Enforcement
Bookkeeping Service Considered Custody, Leads to Enforcement WHAT HAPPENED? The Securities and Exchange Commission (SEC) recently settled an enforcement action against Financial Fiduciaries, alleging that the adviser had custody [...]
SEC on-Pace to Examine 20% of Advisers
SEC on-Pace to Examine 20% of Advisers WHAT HAPPENED? According to Peter Driscoll, the Director of the Office of Compliance Inspections and Examinations, the Securities and Exchange Commission’s efforts [...]
SEC Announces Share Class Selection Disclosure Initiative
SEC Announces Share Class Selection Disclosure Initiative WHAT HAPPENED? On February 12, 2018, the Division of Enforcement of the Securities and Exchange Commission launched a self-reporting initiative to protect [...]
Dodd-Frank Whistleblower Protection Narrowly Applicable
Dodd-Frank Whistleblower Protection Narrowly Applicable WHAT HAPPENED? On Wednesday, February 21, the Supreme Court announced that whistleblower protections passed by Congress following the 2008 financial crisis only apply to [...]
SEC to Increase Exam Funding for Fiscal Year 2019
SEC to Increase Exam Funding for Fiscal Year 2019 WHAT HAPPENED? On Monday, February 12th, the Securities and Exchange Commission released its budget for the 2019 fiscal year. The [...]
SEC Office of Compliance Inspections and Examinations Announces 2018 Examination Priorities
SEC Office of Compliance Inspections and Examinations Announces 2018 Examination Priorities WHAT HAPPENED? On February 7, 2018, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) [...]
SEC Charges Purported Hedge Fund Manager with Fraud
SEC Charges Purported Hedge Fund Manager with Fraud WHAT HAPPENED? On February 2nd, 2018, the Securities and Exchange Commission pressed charges against a hedge fund manager for fraud, ending [...]
Important Message from the SEC Regarding Annual Amendment Filing Deadline
Important Message from the SEC Regarding Annual Amendment Filing Deadline WHAT HAPPENED? Saturday, March 31st is the 90-day annual amendment deadline for Advisers with a Fiscal Year ending on [...]
SEC Demands a Jury Trial for Two Investment Advisers Representatives Charged with Fraud
SEC Demands a Jury Trial for Two Investment Advisers Representatives Charged with Fraud WHAT HAPPENED? On January 31st, 2018, the Securities and Exchange Commission (SEC) ordered a trial by [...]
Investment Company Liquidity Risk Management Programs FAQs
Investment Company Liquidity Risk Management Programs FAQs WHAT HAPPENED? The SEC’s Division of Investment Management has prepared a series of frequently asked questions to address the investment company liquidity [...]
SEC Chairman Clayton Provides Statement on Cryptocurrency and Initial Coin Offerings
SEC Chairman Clayton Provides Statement on Cryptocurrency and Initial Coin Offerings WHAT HAPPENED? On December 11, 2017, SEC Chairman Jay Clayton released a statement on cryptocurrencies and initial coin [...]