Stay to up to date on trends and breaking news impacting financial services and compliance, performance, risk and cybersecurity.
Private Equity Firm Charged with Failure to Disclose Accelerated Portfolio Monitoring Fees
Private Equity Firm Charged with Failure to Disclose Accelerated Portfolio Monitoring Fees WHAT HAPPENED? On December 21, 2017, the SEC charged a private equity fund adviser (“Respondent”) with failing [...]
SEC Charges Stock Trader with Insider Trading
SEC Charges Stock Trader with Insider Trading WHAT HAPPENED? On December 11, 2017, the SEC charged a stock trader (“Defendant”) with generating over $1 million in illegal insider trading [...]
SEC Modifies Final Rule for Form N-PORT
SEC Modifies Final Rule for Form N-PORT WHAT HAPPENED? The SEC has adopted a temporary final rule that will delay the compliance dates for filing a Form N-PORT. The SEC [...]
Adviser Charged with Defrauding Clients
Adviser Charged with Defrauding Clients WHAT HAPPENED? On December 11, 2017, the SEC charged a dually registered investment adviser and broker-dealer, and its principal (collectively, the “Defendant”), with defrauding [...]
Department of Labor Announces 18-Month Delay of the Fiduciary Rule
Department of Labor Announces 18-Month Delay of the Fiduciary Rule WHAT HAPPENED? The Department of Labor has announced that the applicability date of the Fiduciary Rule’s Best Interest Contract [...]
Division of Enforcement Releases Annual Report
Division of Enforcement Releases Annual Report WHAT HAPPENED? On November 15, 2017, the SEC’s Division of Enforcement released its annual report for Fiscal Year 2017 (“FY 2017”). The report [...]
SEC Charges Unregistered Fund Manager
SEC Charges Unregistered Fund Manager WHAT HAPPENED? On October 26, 2017, the SEC charged an unregistered investment adviser and its principals (“collectively, the “Respondents”) with engaging a private fund [...]
SEC Grants Relief to Broker-Dealers and Investment Advisers
SEC Grants Relief to Broker-Dealers and Investment Advisers WHAT HAPPENED? On October 26, 2017, the SEC released three no-action letters that will provide 30 months relief under the Investment [...]
Natural Disasters Emphasize Need for Business Continuity and Transition Plans
Natural Disasters Emphasize Need for Business Continuity and Transition Plans WHAT HAPPENED? The United States has experienced extreme turmoil in recent months from the widespread damage inflicted by Hurricane [...]
House Panel Passes Bill to Repeal DOL Fiduciary Rule
House Panel Passes Bill to Repeal DOL Fiduciary Rule WHAT HAPPENED? On October 12, 2017, the House Financial Services Committee passed the Protecting Advice for Small Savers Act of [...]
RIA Examinations Expected to Rise by 25% Over Next 2 Years
RIA Examinations Expected to Rise by 25% Over Next 2 Years WHAT HAPPENED? In a testimony to Congress, SEC Chairman Clayton stated that the SEC is on track to [...]
SEC Spoofed Emails Used In Spear Phishing Attack
SEC Spoofed Emails Used In Spear Phishing Attack WHAT HAPPENED? Cisco’s Talos Intelligence Group has identified a targeted cyber-attack focusing on specific organizations. The malware began with a targeted [...]
Reminder that the New Form ADV Rules Took Effect on October 1, 2017
Reminder that the New Form ADV Rules Took Effect on October 1, 2017 WHAT HAPPENED? On October 1, 2017, the amendments to Part 1A of Form ADV and the [...]
SEC Provides Updates from Investigation of 2016 Cyber Intrusion
SEC Provides Updates from Investigation of 2016 Cyber Intrusion WHAT HAPPENED? On October 2, 2017, the SEC provided an update on its ongoing staff investigation of the 2016 cyber [...]
SEC Creates Cyber Unit and Retail Strategy Task Force
SEC Creates Cyber Unit and Retail Strategy Task Force WHAT HAPPENED? On September 25, 2017, the SEC announced the creation of the Enforcement Division’s Cyber Unit and Retail Strategy [...]
PE Firm Charged with Improper Allocation of Broken Deal Expenses
PE Firm Charged with Improper Allocation of Broken Deal Expenses WHAT HAPPENED? On September 21, 2017, the SEC charged a registered investment adviser with improperly allocating broken deal expenses [...]