FinCEN announced on February 27, 2025, that it will not impose fines or penalties for failures to file or update beneficial ownership information (BOI) reports in connection with the Corporate Transparency Act by the current...more
Advancements in artificial intelligence (AI) continue to reshape the financial services industry, with the growing popularity of generative Al (GenAl) tools prompting increased attention from US regulators. At the end of...more
2/7/2025
/ Algorithms ,
Artificial Intelligence ,
CFTC ,
Commodity Exchange Act (CEA) ,
Compliance ,
Data Security ,
Financial Services Industry ,
FinTech ,
Machine Learning ,
NIST ,
Regulatory Requirements ,
Risk Management
The Corporate Transparency Act (CTA), enacted by Congress in an effort to combat money laundering and other illicit activities, requires a reporting company to report electronically through a secure filing system its...more
The US Securities and Exchange Commission (“SEC”) recently finalized sweeping new rules for private fund advisers (the “PFA Rules”) under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). The PFA Rules...more
10/9/2023
/ Audits ,
Clawbacks ,
Compliance ,
Custody Rule ,
Exempt Reporting Advisers (ERAs) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Policies and Procedures ,
Private Funds ,
Quarterly Report ,
Securities and Exchange Commission (SEC) ,
Transparency ,
Unregistered Brokers
My last note touched on a recent SEC rule proposal regarding Predictive Data Analytics, and a speech by Chair Gary Gensler highlighting a number of AI-related concerns. The SEC’s interest in the use of AI does not appear...more
The U.S. Securities & Exchange Commission (“SEC”) recently found that an investment adviser mischaracterized its integration of Environmental, Social, and Governance (“ESG”) factors into research and investment...more