Stay to up to date on trends and breaking news impacting financial services and compliance, performance, risk and cybersecurity.
Reminder: Upcoming Deadline Annual GIPS® Compliance Notification
Annual GIPS® Compliance Notification Renewal Due June 30, 2022 Firms and asset owners claiming compliance with the Global Investment Performance Standards (GIPS®) are required to notify CFA Institute of their claim [...]
SEC’s ESG Taskforce Fines Investment Adviser $1.5 Million for Misstatements Concerning ESG
SEC’s ESG Taskforce Fines Investment Adviser $1.5 Million for Misstatements Concerning ESG What happened? On May 23rd, the Securities and Exchange Commission (SEC) charged BNY Mellon Investment Adviser, Inc. for [...]
The New Marketing Rule Part 4 – Implications for Social Media
The New Marketing Rule Part 4 - Implications for Social Media What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and [...]
April 2022 Cyber Recap
April 2022 Cyber Recap The ever-changing cybersecurity landscape can be hard to keep up with. The introduction of new technologies such as cryptocurrency and the ever-changing nature of threats from hackers [...]
The New Marketing Rule Part 3 – General Prohibitions
The New Marketing Rule Part 3 - General Prohibitions What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising and cash solicitation [...]
What are Testimonials and Endorsements?
The New Marketing Rule Part 2 - What are Testimonials and Endorsements? What happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the [...]
Did you know? Ransomware attack costs can be seven times higher than ransom
Did you know? Ransomware attack costs can be seven times higher than ransom Did you know? Collateral consequences of a ransomware attack include costs that are roughly seven times higher [...]
Risk Alert on MNPI
Risk Alert on MNPI What happened? Restrictions on the use of material non-public information (“MNPI”) are one of the cornerstones of the SEC’s regulatory framework. The Division of Examinations (“EXAMS”) [...]
IMPORTANT :: PHISHING ALERT, MESSAGE POSING AS FINRA DEFICIENCY LETTER WITH MALICIOUS LINKS OR ATTACHMENTS
IMPORTANT :: PHISHING ALERT, MESSAGE POSING AS FINRA DEFICIENCY LETTER WITH MALICIOUS LINKS OR ATTACHMENTS What happened? There is an active phishing campaign coming from the @claims-finra.org domain. Messages refer to [...]
Recent Cyber Attacks Prove that MFAs are not All Created Equal
Recent Cyber Attacks Prove that MFAs are not All Created Equal WHAT HAPPENED? Within the past few months, two hacker groups, a data extortion gang known as Lapsu$ and elite [...]
The New Marketing Rule: Part 1 – What is an Ad?
The New Marketing Rule: Part 1 - What is an Ad? What Happened? On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) passed amendments to the advertising [...]
Reminder: Annual Form PF filing Due April 30, 2022
Reminder: Annual Form PF filing Due April 30, 2022 Although IARD/PFRD is scheduled to be available Saturday the 30th, we recommend filing be completed by April 29th If you are [...]
March 2022 Cyber Recap
March 2022 Cyber Recap WHAT HAPPENED? Significant changes are on the horizon for cybersecurity requirements for investment advisers and other companies in critical infrastructure. March 9th, 2022: On March 9th, 2022, the [...]
2022 SEC Examination Priorities: ESG, Private Funds, Data Security, and Digital Assets
2022 SEC Examination Priorities: ESG, Private Funds, Data Security, and Digital Assets WHAT HAPPENED? On March 30, 2022, the Division of Examinations (the Division) published its 2022 Examination Priorities. These annual priorities [...]
Shocking Recension and Amendment of the Proxy Adviser Rule Threatens Shareholder Democracy
Shocking Recension and Amendment of the Proxy Adviser Rule Threatens Shareholder Democracy I. Introduction In November 2021, the U.S. Securities and Exchange Commission’s (the “SEC” or “Commission”) proposed recensions and [...]
ADVISER CHARGED WITH FAILING TO DISCLOSE FEES AND EXPENSES: Results in nearly $10 million in penalties and reimbursements
ADVISER CHARGED WITH FAILING TO DISCLOSE FEES AND EXPENSES: Results in nearly $10 million in penalties and reimbursements WHAT HAPPENED? On December 20th, a private fund adviser, Global Infrastructure Management, LLC, [...]