Risk Alerts From OCIE: Form CRS and Reg BI WHAT HAPPENED? On April 7, 2020, the Office of Compliance Inspections and Examinations (OCIE) of the United States Securities and Exchange Commission released two Risk Alerts to address upcoming compliance expectations for the new Form CRS and Regulation Best Interest [...]
Important Upcoming Deadlines for SEC Registered Investment Advisers WHAT IS HAPPENING? There are several key deadlines for SEC registered investment advisers in the coming weeks, including form distribution and filings and annual reviews for many. If your firm or fund’s fiscal year ended on 12/31/2019, some dates to keep [...]
How to Prepare for Form CRS Recently, Amber Allen, Vice President and General Counsel, and Nick Byrne, Relationship Manager, of Fairview offered their knowledge of Form CRS to help advisers navigate the new filing requirement. Find the full article below, which provides in-depth guidance from our compliance professionals. [...]
SEC Issues Additional Relief and Guidance as COVID-19 Creates Obstacles WHAT HAPPENED? In response to the unusual state of global securities infrastructures stemming from COVID-19, the SEC is continuing to provide regulatory relief to struggling entities. This week, the SEC expanded on a recently released relief package to extend [...]
A Breakdown of the SEC’s Regulatory Relief Provisions for Filings and Documentation ***UPDATE*** On March 23 and 25, 2020, the SEC released further extended dates for the items listed below. WHAT HAPPENED? While the international COVID-19 outbreak continues to affect the lives of the [...]
Form CRS: The Latest Tips for Preparing – UPDATE! WHAT HAPPENED? On Feb. 11, 2020, the Securities and Exchange Commission released a set of new Frequently Asked Questions about Form CRS. Among other useful information, the FAQs address that adviser affiliates of a registered adviser may jointly file a [...]
Exam Takeaways: SEC and DOL Joint Exams WHAT HAPPENED? Regulatory requirements and expectations for firms are constantly evolving; with that, examination practices are changing as well. An emerging approach to routine examinations includes exam teams from both the Securities and Exchange Commission and the Department of Labor collaborating on [...]
OCIE Releases 2020 Examination Priorities WHAT HAPPENED? On Jan. 7, 2020, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission (OCIE) released its 2020 Examination Priorities. The list is published annually to provide clear guidance to professionals and to highlight pertinent risks to investors. Several [...]
By the Numbers: SEC Division of Enforcement Publishes FY2019 Report WHAT HAPPENED? Recently, the Division of Enforcement of the Securities and Exchange Commission released their annual report which includes detailed information about the Commission’s enforcement efforts for fiscal year 2019. In line with OCIE’s 2019 Examination Priorities, the Commission [...]
OCIE Releases List of Common Investment Company, Money Market Fund, and Target Date Fund Compliance Issues WHAT HAPPENED? On Nov. 7, 2019, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission released a Risk Alert outlining common compliance observations among investment companies, money market funds, [...]