Stay to up to date on trends and breaking news impacting financial services and compliance, performance, risk and cybersecurity.
CISA Issues “Shields Up” Advisory
CISA Issues “Shields Up” Advisory WHAT HAPPENED? The Cybersecurity & Infrastructure Security Agency’s (“CISA”) issued a “Shields Up” message to every U.S. organization in response to Russia’s unprovoked attack on [...]
SEC Exam Trends
SEC Exam Trends The SEC’s Division of Examinations has conducted a series of exams, coined as the Retail Investment Company Initiatives (RIC), which focused on mutual funds and exchange-traded funds (ETFs). [...]
Cybersecurity Risk Management
Cybersecurity Risk Management WHAT HAPPENED? On February 9th, 2022, the SEC announced its proposed rule 206(4)-9 under the Advisers Act and new rule 38a-2 under the Investment Company Act (collectively, the [...]
SEC Proposes Reforms for Private Funds
SEC Proposes Reforms for Private Funds WHAT HAPPENED? On February 9, 2022, the United States Securities and Exchange Commission voted to propose new rules and amendments to enhance the regulation of private [...]
SEC Continues Focus on Private Fund Advisers
SEC Continues Focus on Private Fund Advisers WHAT HAPPENED? In the past five years, private fund assets have increased by 70%. As private fund advisers continue to play a larger role [...]
SEC Commissioner Signals Regulatory Changes are underway for Cybersecurity
SEC Commissioner Signals Regulatory Changes are underway for Cybersecurity WHAT HAPPENED? SEC Chair Gensler spoke at Northwestern Pritzker School of Law’s Annual Securities Regulation Institute yesterday, where he focused on the [...]
Phishing Via Gmail Accounts
Phishing Via Gmail Accounts WHAT HAPPENED? A survey conducted by Barracuda surveyed 10,500 organizations and found that 35% of them had at least one bait attack email in September 2021 alone. Bait [...]
Advisory on Russian Threats to Infrastructure
Advisory on Russian Threats to Infrastructure WHAT HAPPENED? CISA, the FBI, and the NSA have released a joint cybersecurity advisory that gives oversight on Russian cyber operations including their observations on tactics, [...]
Compliance Date Approaching for Fund of Funds Arrangements Under The Investment Company Act of 1940, as Amended
Compliance Date Approaching for Fund of Funds Arrangements Under The Investment Company Act of 1940, as Amended WHAT HAPPENED? Last year the U.S. Securities and Exchange Commission adopted a new rule [...]
Importance of Patching Log4j Flaw
Importance of Patching Log4j Flaw WHAT HAPPENED? The Federal Trade Commission (FTC) has warned U.S. organizations failing to secure customer data against Log4Shell zero-day vulnerability could face legal repercussions. The week [...]
Phasing Out LIBOR
Phasing Out LIBOR WHAT HAPPENED? First, what is LIBOR? The London Interbank Offered Rate ("LIBOR") is the average interest rate by which major global banks borrow from one another. LIBOR rates [...]
Staying Vigilent During the Holidays
STAYING VIGILENT DURING THE HOLIDAYS WHAT HAPPENED? While you are planning for holiday parties and traveling, malicious cyber actors are making different plans. Recently, CISA and the FBI have seen that [...]
SonicWall Usage
SonicWall Usage WHAT HAPPENED? SonicWall is strongly urging organizations that use SMA 100 series appliance to immediately patch them against multiple security flaws rated with CVSS scores ranging from medium [...]
The New Marketing Rule: RETIRING NO-ACTION LETTERS
The New Marketing Rule: RETIRING NO-ACTION LETTERS WHAT HAPPENED? When the SEC adopted the Marketing Rule, it rescinded the Cash Solicitation Rule as of the Marketing Rule’s compliance date and stated that [...]
SEC Focuses on Advisory Fee Calculation: What You Need to Know
SEC Focuses on Advisory Fee Calculation: What You Need to Know WHAT HAPPENED? During recent regulatory exams, the SEC detected several issues with investment advisers’ fee calculations. The SEC wants to [...]
Advisers to Private Funds: Going from Exemption Reporting Adviser (ERA) to Fully Registered Adviser
Advisers to Private Funds: Going from Exemption Reporting Adviser (ERA) to Fully Registered Adviser. Fairview partners with firms to get registered and provide on-going compliance support. WHAT IS GOING ON? Many exempt [...]