FINRA IRR & How it Relates to the GIPS Standards The Financial Industry Regulatory Authority (FINRA) released a regulatory notice allowing asset managers to present internal rates of return (IRR) in marketing materials, under certain circumstances. A key requirement for presenting IRR for an investment with ongoing operations is that the calculation must [...]
Are Your Employees Being Recruited to Attack Your Firm? WHAT HAPPENED? Cybersecurity criminals are utilizing unconventional methods to breach company networks through ransomware attacks, which may even be carried out through the company's own employees. These scammers are offering a percentage of the ransom to employees who assist them with launching these [...]
Performance Practice Leader of Fairview Appointed Chair of CFA Institute’s United States Investment Performance Committee We are pleased to announce that Fairview Performance Service’s Vice President and Performance Practice Leader, Greta Nathan, was appointed Chair of the CFA Institute’s United States Investment Performance Committee (USIPC). Greta will work alongside a group [...]
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 [...]
16 States Reviewing Data Privacy Regulations WHAT HAPPENED? State data privacy regulations are continuously evolving to catch up with the ever-increasing risks to consumers on the web. In recent months, 16 states introduced or continued processing laws that, if passed, will protect consumer data and hold companies accountable for [...]
Kaseya Attack: What You Should Know and How You Should Respond WHAT HAPPENED? It was recently discovered that Kaseya’s VSA software had an unknown, zero-day vulnerability in the software which was exploited for an attack. The software is used by managed service providers (MSPs) and their clients for remote [...]
Cisco ASA & Firepower Threat Defense Vulnerability Exploited WHAT HAPPENED? On June 24, 2021, a cybersecurity firm published a Proof of Concept (PoC) exploit on Cisco's Adaptive Security Appliance, showing security weaknesses in the software. While PoC’s are intended for information sharing and not for harm, the published vulnerability [...]
Phishing Warning: Virginia State Corporation Commission Issues Alert WHAT HAPPENED? On June 24, 2021, the Virginia State Corporation Commission’s Division of Securities and Retail Franchising (the Division) issued an alert to registered investment advisers of an ongoing phishing campaign whereby the attackers claim to be from the Division.Like most phishing attempts, [...]
Inaccurate Performance Information Leads to SEC Charges WHAT HAPPENED? The SEC recently settled with a registered investment adviser that posted false statements and misleading performance data on its public website. The adviser also had referral relationships with bloggers but did not make required investor disclosures about these connections. The [...]
5 Proposed Rules from the SEC That Could Affect Your Firm WHAT HAPPENED? The SEC released its latest regulatory agenda, which outlines the commission’s pending rules and regulations. Under the direction of Chairman Gensler and a new slate of SEC leadership, the priorities of the commission focus heavily on [...]