News & Analysis as of

Risk Alert

SEC Urges Investment Firms to Better Prepare for Ransomware Attacks

by Nossaman LLP on

On May 17, 2017, the SEC’s Office of Compliance Inspection and Examination (“OCIE”) issued a risk alert urging broker-dealers, investment advisors and investment companies to safeguard themselves against ransomware in light...more

SEC Issues Ransomware Risk Alert Highlighting Cybersecurity Best Practices

On May 17, 2017, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert regarding the “WannaCry” ransomware worm that infected hundreds of thousands...more

OCIE Publishes Risk Alert In Response to WannaCry Ransomware

by Dechert LLP on

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) issued a National Exam Program Risk Alert (Risk Alert) on May 17, 2017 in response to “WannaCry,” the ongoing...more

ALERT: SEC Issues Risk Alert on Top Five Problem Areas in Investment Advisor Examinations

by Pullman & Comley, LLC on

For investment adviser firms, an audit by the Securities and Exchange Commission or state regulators can be cause for anxiety. Regardless of how carefully a firm’s chief compliance officer adheres to regulations, deficiencies...more

SEC Emphasizes Cybersecurity Preparedness in Wake of Global Ransomware Attack

by Ballard Spahr LLP on

The U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations (OCIE) has issued a Risk Alert in the wake of the widespread WannaCry ransomware attack that has inflicted hundreds of thousands...more

Registered Investment Advisers Take Note: New SEC Custody Rule Guidance

Registered investment advisers should take note of recent pronouncements by the staff of the SEC's Division of Investment Management (the "Division") regarding Rule 206(4)-2 (the "Custody Rule") of the Investment Advisers Act...more

Funds Talk: March 2017

OCIE Highlights Frequent Topics for Compliance Deficiencies for Investment Advisers - On Feb. 7, 2017, the Securities and Exchange Commission’s (SEC’s) Office of Compliance Inspections and Examinations (“OCIE”) published...more

US SEC Publishes Risk Alert on Top Five Investment Adviser Compliance Issues Found During Inspections

by Dechert LLP on

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 February 7, 2017 (Risk Alert), highlighting the “five compliance...more

HR, Payroll, Finance Department Beware: Renewed IRS W-2 Phishing Scam Alert

by Dickinson Wright on

The Internal Revenue Service and other agencies recently issued an urgent reminder Alert warning of a sophisticated scam to obtain confidential information and in some cases, fraudulent cash wire transfer payments. Scammers...more

Bridging the Week - February 2017 #2

Retail Foreign Exchange Dealer Agrees With CFTC and NFA to Cease Doing Business for Concealing Relationship With Closely Tied Market Maker - Forex Capital Markets, LLC, a retail foreign exchange dealer, and two of its...more

Compliance Issues The SEC Is Seeing

by Fox Rothschild LLP on

The Office of Compliance Inspections and Examinations (or OCIE) recently issued a Risk Alert that identified the five most frequent compliance topics that arising from OCIE examinations. These compliance topics include the...more

Common Compliance Issues for Investment Advisers

by Dorsey & Whitney LLP on

On February 7, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) published a Risk Alert listing the five most frequent compliance topics identified on investment adviser examinations completed within...more

IA Sanctioned Based On Risk Areas In OCIE Alert

by Dorsey & Whitney LLP on

The Commission’s inspection staff – OCIE – issued an Alert about its national inspection program earlier this week, highlighting risk areas for investment advisers. Any adviser facing an inspection would do well to review the...more

SEC’s OCIE Issues Alert on Key Compliance Issues

by Dorsey & Whitney LLP on

A Risk Alert regarding its National Exam Program was issued by the SEC’s Office of Compliance Inspections and Examinations or OCIE. Drawing from its prior exam experience, OCIE identified five key areas of risk for investment...more

Mine Safety Agency Issues Alert on a Brake Release System

by Jackson Lewis P.C. on

The Mine Health and Safety Administration has issued a “safety hazard alert” on the dangers involved when the parking brake of a high-volume, brake-release pump, the A.L. Lee Corporation Man Trip Model RRB-15V, was...more

Mine Safety Agency Issues Safety Alert on Machinery

by Jackson Lewis P.C. on

Noting that 51 coal miners have been fatally injured in accidents involving machinery and powered haulage equipment over the past six-and-a-half years, the Mine Safety and Health Administration has released “Take Pride in...more

SEC Scores First Muni Issuer's Admission of Wrongdoing

by Burr & Forman on

The Port Authority of New York and New Jersey has admitted wrongdoing and agreed to pay a $400,000 penalty to settle SEC charges that it failed to adequately disclose project risks to investors purchasing $2.3 billion in...more

SEC Takes Issue with Employee Confidentiality Obligations and Waivers of Monetary Awards

by White & Case LLP on

The Securities and Exchange Commission's (the "SEC" or "Commission") Office of Compliance Inspections and Examinations ("OCIE") issued a risk alert on October 24, 2016, announcing that it will be reviewing registrants'...more

Whistleblower Rule Compliance: SEC’s OCIE Issues Risk Alert in Wake of Illustrative Enforcement Actions

by Winstead PC on

On October 24, staff of the Securities Exchange Commission (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert titled “Examining Whistleblower Rule Compliance” (the “Risk Alert”). The Risk...more

Physician Practices Beware: Scam Email Disguised as Communication from Office of Civil Rights Regarding HIPAA Audit

Receiving an email that your practice has been identified for participating in the HIPAA Privacy, Security, and Breach Rules Audit Program is enough to raise anyone’s blood pressure. The likely response is to open the email...more

Red Notice Newsletter - November 2016

JPMorgan Resolves Enforcement Action Regarding China Subsidiary’s Hiring Practices - On November 17, 2016, JPMorgan Chase & Co. (JPMC) entered into a nonprosecution agreement with the Department of Justice (DOJ), and...more

Mine Safety Agency Issues Electrical Safety Alert

by Jackson Lewis P.C. on

The Mine Safety and Health Administration has issued an electrical safety alert after several miners were injured in underground coalmine accidents. In one incident, a miner working near a 480 VAC scoop charger circuit...more

SEC Examiners Focus on Investment Adviser and Broker-Dealer Compliance With Whistleblower Rules

by WilmerHale on

Last week, the SEC's Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert regarding examinations of investment adviser and broker-dealer registrants' compliance with key whistleblower provisions...more

OCIE Publishes Risk Alert on Examinations of Compliance with SEC Whistleblower Rule by Investment Advisers and Broker-Dealers

by Dechert LLP on

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 October 24, 2016 (Risk Alert) regarding examinations of...more

Mine Roof Collapses Trigger Government Safety Alert

by Jackson Lewis P.C. on

Following 10 incidents of roof collapses in July and August, the Mine Safety and Health Agency has issued a safety alert to warn employers and employees about the dangers of roof falls. MSHA said the roof failures...more

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