Annual GIPS Notification Renewal Due June 30, 2021 Firms and asset owners claiming compliance with the Global Investment Performance Standards (GIPS®) are required to notify CFA Institute of their claim of compliance annually by June 30. The required information is minimal, including: Primary and secondary contact details. Firm or asset [...]
DarkSide, Ransomware, and the Colonial Pipeline Attack: 8 Practical Ways to Lock Down Your Data WHAT HAPPENED? When bad actors initiated a ransomware attack on the Colonial Pipeline network earlier this month, panic-struck consumers emptied gas pumps across the Southeast. The pipeline, a critical infrastructure resource, ultimately paid attackers [...]
FBI Investigates Asset Owner’s Returns WHAT HAPPENED? A Pennsylvania pension fund is caught in a legal inquiry from the FBI that led to an investigation. The trouble began when the fund’s board members noticed the plan reported yearly investment returns that were barely over the threshold to avoid an [...]
SEC Exam Observations: ESG Investing Risks WHAT HAPPENED? Recently, the U.S. Securities and Exchange Commission released a Risk Alert outlining specific compliance concerns associated with environmental, social, and governance (ESG) investing. With these investment products increasing in popularity across capital markets, the SEC is expanding efforts to provide advisers [...]
10 Takeaways From CFA Institute’s Guidance on Benchmarks for Firms The 2020 Global Investment Performance Standards (GIPS®) require firms to choose an appropriate total return benchmark, when available, for every composite and pooled fund. This information must be presented in the firm’s GIPS Reports. Benchmarks are used as a reference [...]
The New Virginia Consumer Data Protection Act - What Does It Mean for My Firm? WHAT HAPPENED? On March 2, 2021, Virginia governor Ralph Northam signed into law the Consumer Data Privacy Act (CDPA), which will take effect in 2023. The CDPA is similar to an existing data privacy [...]
How bad is the Microsoft Exchange attack, and should I be worried? WHAT HAPPENED? On Tuesday, March 2, 2021, Microsoft issued an uncommon “out-of-band,” or off schedule patch for Microsoft Exchange servers. By the following day, Microsoft announced findings that the China-based hacker group Hafnium was actively exploiting a [...]
UPDATE: The SEC’s Marketing Rule is Officially Published – What Now? WHAT HAPPENED? On Friday, March 5, 2021, the U.S. Securities and Exchange Commission’s highly anticipated Marketing Rule was published in the Federal Register, setting in motion a series of regulatory requirements for investment advisers. The move to officially [...]
Six New Data Privacy Bills That Could Become Law in 2021 WHAT HAPPENED? State mandated data privacy regulations are constantly evolving to meet the needs of the changing cybersecurity landscape. Staying up to date with these rules is critical to maintaining a compliant and functional cybersecurity program at your [...]
GIPS® Standards Case Study: One Asset Owner’s Efforts to Attain Compliance Asset owners are a growing faction of entities seeking to attain compliance with the Global Investment Performance Standards (GIPS®). As compliance with the standards becomes more essential in building business partnerships and preparing for the future of capital markets, more [...]