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 [...]
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 [...]
The SEC’s New Marketing Rule: Here’s What You Should Know Now UPDATE: 3/5/2021 On March 5, 2021, the Marketing Rule was published in the Federal Register, setting in motion the need for firms to prepare for compliance. Fairview will publish more information on an ongoing basis about the Rule [...]
2020 Compliance Round-Up: The Top 10 Regulatory Headlines for Investment Advisers This Year WHAT HAPPENED? Amid the unique changes and challenges 2020 has brought, there has been plenty of regulatory news from the U.S. Securities and Exchange Commission and the Office of Compliance Inspections and Examinations (OCIE) in the [...]
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 [...]
SEC proposes exemption for finders helping small businesses raise capital WHAT HAPPENED? On Oct. 7, 2020, the U.S. Securities and Exchange Commission proposed a conditional exemption which would allow certain market participants to be exempted from registering as brokers under federal securities laws. The exemptions would benefit “finders” who [...]
SEC Proposes Changes to Advertising and Solicitation Rules WHAT HAPPENED? On Nov. 4, 2019, the Securities and Exchange Commission released proposed amendments intended to modernize the advertising and solicitation rules under the Investment Advisers Act. After several decades of unchanged rulemakings, the Commission is in the process of amending [...]
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 [...]