Office of Compliance Inspections and Examinations

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Investment Management Legal + Regulatory Update - February 2015

In This Issue: - SEC Proposes Rule Requiring Hedging Disclosure - SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers - House Passes Bill to Ease Volcker Rule and Other...more

What General Counsel Need To Know About The Latest Cybersecurity Developments

In the wake of reported security breaches at a number of significant financial institutions, cybersecurity is garnering more attention and concern than ever before — both within the financial services industry and among...more

OCIE's Cybersecurity Risk Alert Provides Insight For Investment Advisers Into Peer Practices

On February 3, 2015, the SEC's Office of Compliance Inspection and Examinations ("OCIE") released a risk alert titled Cybersecurity Examination Sweep Summary providing an overview of how investment advisers and broker-dealers...more

A Few Takeaways from the OCIE Cybersecurity Examination Sweep Summary

On February 3, 2015, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert (the “2015 Risk Alert”) with summary observations from its recently...more

Going for Brokerage: SEC Report Highlights Best (and Worst) Practices in Cybersecurity Preparedness

On February 3, 2015, the U.S. Securities and Exchange Commission released a Risk Alert addressing cybersecurity issues at brokerage and advisory firms, along with suggestions to investors on ways they can protect themselves...more

SEC and FINRA Publish Materials Addressing Cybersecurity

Twin reports provide a roadmap to best practices. U.S. financial markets and participants, much like other segments of the U.S. economy, are prime targets for technological hacks, intrusions, and breaches that can occur...more

SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers

An SEC cybersecurity sweep examination by the SEC’s Office of Compliance Inspections and Examinations (OCIE) found that 88 percent of the broker-dealers (BDs) and 74 percent of the registered investment advisers (RIAs) they...more

SEC Releases Results of Cybersecurity Examination Sweep

By Rochelle Emert and Phillip Caraballo-Garrison On February 3, 2015, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert that summarized its findings about cybersecurity preparedness in...more

The SEC’s Office of Compliance Inspections and Examinations (OCIE) Publishes Risk Alert On Addressing Cybersecurity Issues for...

On February 3, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that contains observations based on examinations of more than 100 broker-dealers and investment advisers....more

OCIE Cybersecurity Risk Alert: Keep Your Data Close and Your Third-Party Providers Closer

On February 3, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that summarizes the OCIE’s observations from its recent examinations of registered...more

SEC Releases Results of Cybersecurity Examination Sweep

On February 3, 2015, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a Risk Alert summarizing findings from its examinations of over 100 registered...more

Locke Lord QuickStudy: SEC Issues Risk Alert on Cybersecurity

On February 3rd, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission released a summary of its cybersecurity findings during sweep reviews in 2014. ...more

The SEC’s 2015 Examination Priorities: Implications for Private Equity Fund Managers

The Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) recently released its examination priorities for 2015 for investment advisers, broker-dealers and transfer agents...more

SEC Office of Compliance Inspections and Examinations Releases Cybersecurity Examination Sweep Summary of Investment Advisers and...

Our colleagues Catherine M. Anderson and Kate Leonard of our Investment Management group have summarized the February 3, 2015 findings by the Office of Compliance Inspections and Examinations (OCIE) of its Cybersecurity...more

SEC Reports Widely Divergent Levels of Cybersecurity Preparedness

This week the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) announced the results from a sweep of U.S. broker-dealers and investment advisers on cybersecurity. The...more

SEC Releases Results of 2014 Cybersecurity Exam Sweep

On February 3, the Securities and Exchange Commission (SEC) issued a Risk Alert prepared by its Office of Compliance Inspections and Examinations (OCIE) that summarizes the results of a sweep of more than 100 broker-dealers...more

SEC Examination Priorities for 2015

We recently sent you an email about FINRA’s Examination Priorities for 2015. The SEC has now released its 2015 Examination Priorities, and it continues the trend of focusing on rollovers. This email discusses the SEC concerns...more

"SEC Focus Results in Investment Adviser Fee and Expense Changes"

Recent efforts by the Securities and Exchange Commission (SEC) to bring concentrated regulatory attention to investment managers sharpened over the past year to include a particular focus on the private equity and hedge fund...more

A Compilation of Enforcement and Non-Enforcement Actions

Non-Enforcement Advisers to Private Funds Among Targets of the SEC’s 2015 Examination Program The U.S. Securities and Exchange Commission (SEC) recently announced the 2015 examination priorities for its Office of Compliance...more

Structured Thoughts - Volume 6 , Issue 1 - January 26 , 2015

In This Issue: - FINRA Releases 2015 Regulatory and Exam Priorities Letter: Structured Products Remain an Area of Focus - OCIE Exam Priorities: 2015 - In Re: TVIX Securities Litigation - Second...more

State Of The Union “Sneak Peek” Highlights Administration Cybersecurity Initiatives

As part of a series of “sneak peeks” announced in advance of the State of the Union address on Tuesday, January 20th, President Obama made remarks last week before the Federal Trade Commission, the Department of Homeland...more

Orrick's Financial Industry Week in Review

ESMA Publishes Final Technical advice on the MiFID II Directive and MiFIR - On December 19, 2014, the European Securities and Markets Authority (ESMA) published final technical advice (ESMA/2014/1569) to the European...more

SEC Announces 2015 Exam Priorities

The SEC Office of Compliance Inspections and Examinations (“OCIE” or the “Staff”) recently released its 2015 Exam Priorities. OCIE examines all types of SEC registrants, including investment advisers, broker-dealers,...more

How to Pass the SEC’s Cybersecurity Test in 9 Steps

Cybersecurity again looks to feature prominently on 2015’s regulatory agenda. So far this year, the Financial Industry Regulatory Authority and the SEC’s Office of Compliance Inspections and Examinations (OCIE) have announced...more

SEC Announces 2015 Examination Priorities

On January 13, the SEC announced its Office of Compliance Inspections and Examinations’ examination priorities for 2015. The examination priorities cover a wide range of financial institutions and focus on three areas: (i)...more

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