SEC Updates Form ADV FAQs WHAT HAPPENED? On June 12, 2017, the SEC released new Form ADV FAQs to provide guidance on recent amendments made to the form. The additions to the FAQs are related to Items 1.I, 1.J, 5.D, 5.K, 7.B and Schedule R. The SEC also provided an update [...]
SEC Amends Form ADV Part 1A and the Advisers Act WHAT HAPPENED? The SEC adopted amendments to Part 1A of Form ADV and the Investment Advisers Act of 1940 (the “Advisers Act”) to better monitor various risks in the investment management industry. Collectively, the amendments will: require investment advisers to [...]
SEC Takes Strict Stance on General Solicitations of Certain Regulation D Offerings WHAT HAPPENED? In a review of a FINRA disciplinary action, the SEC affirmed its zero-tolerance policy for general solicitations of specific Regulation D offerings. The disciplinary action addressed an independent broker-dealer and investment adviser that offered interests of an [...]
CCO Charged with Inadequate Form ADV Disclosures WHAT HAPPENED? On March 29, 2017, the SEC charged the dually-acting principal and Chief Compliance Officer of Alison, LLC, with failing to provide specific books and records to the Commission’s examination staff. In addition, the examination concluded that the registered investment adviser’s Form ADV [...]