The SEC’s Latest Exam and Request List Trends WHAT HAPPENED? With new SEC leadership in place, including Chairman Gary Gensler and Director of Enforcement Gurbir Grewal, the Commission’s examination trends continue to evolve. Some focus areas, like cybersecurity and business continuity, are more relevant than ever with the changes [...]
No Need to Report Certain Home Offices on Form ADV WHAT HAPPENED? The U.S. Securities and Exchange Commission released an FAQ statement clarifying there is no need to report a remote home office on Form ADV if the remote office is part of a firm’s pandemic response and business [...]
Compliance Considerations for RIAs and BDs Trading Digital Asset Securities WHAT HAPPENED? Digital assets continue to be a hot topic among regulators as these securities gain momentum in the marketplace. While more comprehensive regulations around these trades are implemented, examiners from the U.S. Securities and Exchange Commission are emphasizing [...]
2021 SEC Examination Priorities: What You Should Know WHAT HAPPENED? On March 3, 2021, the Division of Enforcement of the U.S. Securities and Exchange Commission (the Division) released its list of 2021 Examination Priorities. The annual list outlines the regulator’s most pertinent exam initiatives and highlights important areas of [...]
OCIE Risk Alert: common compliance program issues WHAT HAPPENED? On Nov. 19, 2020, the Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission (OCIE) released a Risk Alert outlining common compliance concerns among registered investment advisers. The list was compiled based on recent compliance examinations [...]
ALERT: Phishing attack posing as FINRA survey WHAT HAPPENED? The Office of Compliance Inspections and Examinations of the U.S. Securities and Exchange Commission (OCIE) was recently made aware of a phishing attempt which could affect broker-dealers, investment advisers, and investment companies. The attack came from bad actors, purporting to [...]
How to Identify and Avoid Vishing and Smishing Attacks WHAT HAPPENED? You likely have heard of phishing attacks, a type of social engineering scheme that tricks victims into clicking email links infected with malware, or into giving sensitive information to cybercriminals posing as a credible contact. Sophisticated attackers use [...]
5 Ways to Strengthen Your Firm’s Vendor Management Program WHAT HAPPENED? Vendor management is a critical piece of creating a comprehensive information security strategy for firms. Vendors processing or maintaining sensitive information on behalf of your firm and its clients are especially important to review and conduct due diligence [...]
Newly Identified Compliance Risks Due to COVID-19: What You Should Know WHAT HAPPENED? Last week, the Office of Compliance Inspections and Examinations of the United States Securities and Exchange Commission (OCIE) issued a Risk Alert which outlines new compliance risks stemming from the global pandemic. The SEC and OCIE have remained [...]
Are You Taking Steps To Avoid Ransomware Attacks? WHAT HAPPENED? Earlier this month, the Office of Compliance Inspections and Examinations of the United States Securities and Exchange Commission (OCIE) issued a Risk Alert which outlines best practices for maintaining a secure network; the United States Cybersecurity and Infrastructure Agency [...]