At a contentious open meeting on February 6, 2024, the Securities and Exchange Commission (Commission) voted three to two to adopt rule amendments (Final Rules) under the Securities Exchange Act of 1934, as amended (Exchange...more
Key Takeaways -
Following the SEC’s adoption, earlier this year, of changes to Form PF, large hedge fund advisers will face, for the first time, a requirement to report certain events to the SEC within 72 hours. ...more
9/21/2023
/ Clawbacks ,
Dodd-Frank ,
Filing Requirements ,
Final Rules ,
FSOC ,
Hedge Funds ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Amendments ,
Private Funds ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
The November 4, 2022, deadline for advisers to implement amended Rule 206(4)-1 (Marketing Rule) and related rules under the Investment Advisers Act of 1940 is fast approaching. Advisers required to comply with the rule are...more
10/24/2022
/ Advertising ,
Amended Rules ,
Cash Solicitation Rule ,
Compliance ,
Endorsements ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Marketing ,
Policies and Procedures ,
Private Funds ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Testimonial Statements
The staff of the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (staff) issued a National Exam Program Risk Alert on August 12, 2020 (Risk Alert). The Risk Alert is intended to share...more
8/26/2020
/ Broker-Dealer ,
Business Continuity Plans ,
Compliance ,
Coronavirus/COVID-19 ,
Data Protection ,
Fees ,
Fraud ,
Investment Adviser ,
OCIE ,
Popular ,
Registered Investment Advisors ,
Risk Alert ,
Securities and Exchange Commission (SEC)
The 2020 Examination Priorities of the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission were announced on January 7, 2020, and cover eight broad topics:
- Protection...more
2/1/2020
/ Anti-Money Laundering ,
Broker-Dealer ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Digital Assets ,
ETFs ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Innovation ,
Investor Protection ,
MSRB ,
Municipal Advisers ,
Mutual Funds ,
OCIE ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Retail Investors ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Stock Exchange
Massachusetts’ Secretary of the Commonwealth, William F. Galvin, caused the Securities Division to issue, on November 29, 2019, a revised proposed uniform standard of conduct for broker-dealers, investment advisers, and their...more
1/3/2020
/ Blue Sky Laws ,
Broker-Dealer ,
Conflicts of Interest ,
Duty of Loyalty ,
Federal v State Law Application ,
Fiduciary Duty ,
Investment Adviser ,
Preemption ,
Proposed Rules ,
Public Hearing ,
Registered Investment Advisors ,
Regulation Best Interest ,
Standard of Conduct ,
State Securities Regulators
The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert on September 14, 2017 (Risk Alert). The Risk Alert highlights...more
10/18/2017
/ Advertising ,
Compliance ,
Examination Procedures ,
False Statements ,
Investor Protection ,
Marketing ,
Misleading Impressions ,
OCIE ,
Registered Investment Advisors ,
Risk Alert ,
Securities and Exchange Commission (SEC)
The staff of the Division of Investment Management (Staff) of the U.S. Securities and Exchange Commission (SEC) published a Guidance Update (Guidance) on February 23, 2017, on the subject of automated investment advisers...more
3/15/2017
/ Compliance ,
Disclosure Requirements ,
Division of Investment Management ,
Guidance Update ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Management ,
OCIE ,
Policies and Procedures ,
Registered Investment Advisors ,
Robo-Advisors ,
Securities and Exchange Commission (SEC)
Investment advisers registered with the U.S. Securities and Exchange Commission (SEC) may use a variety of business and organizational models, which may include structures with one or more branch offices. In announcing its...more
A U.S. Securities and Exchange Commission (SEC) no-action letter issued on April 25, 2016 provides relief from the annual surprise audit requirement of the “Custody Rule” for a registered investment adviser (RIA)...more