The Division of Examination’s (former OCIE) annual announcement of its exam priorities is always noteworthy, as it provides helpful insight into this division’s thinking and can serve as a roadmap for regulated entities to...more
3/10/2021
/ Anti-Money Laundering ,
Biden Administration ,
Climate Change ,
Cryptocurrency ,
Digital Assets ,
Environmental Social & Governance (ESG) ,
FinTech ,
Innovation ,
Investment Adviser ,
Libor ,
Market Infrastructure ,
OCIE ,
Regulation Best Interest ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
Closing out 2020, the SEC’s Division of Examinations (OCIE) issued a Statement on Recent and Upcoming Regulation Best Interest Examinations. There the Division of Examinations announced its intention “to begin its next phase...more
In a 30-day period, the U.S. Securities and Exchange Commission (“SEC”) has released guidance in three ways regarding certain views on the important role and potential liability risks of chief compliance officers (“CCOs”)....more
The U.S. Securities and Exchange Commission (SEC) hosted a virtual roundtable in late October to discuss the Regulation Best Interest (Reg BI) and Form CRS. With a few months of observations from examinations since the June...more
What’s New, and Comings & Goings at the SEC -
What’s New: The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently issued a Risk Alert titled “Select COVID-19 Compliance Risks and Considerations for...more
8/27/2020
/ Broker-Dealer ,
Business Continuity Plans ,
Compliance ,
Enforcement ,
Fees ,
Financial Transactions ,
Investment Fraud ,
Investors ,
OCIE ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Supervision
The SEC has issued guidance addressing the Form CRS. The first is a Risk Alert from the Office of Compliance Inspections and Examinations (OCIE) indicating that OCIE will be looking for good faith compliance when it conducts...more
On April 7, 2020, the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert providing guidance for the SEC’s post–June 30, 2020, examinations of firms’...more
On April 7, 2020, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert providing guidance for the SEC’s post June 30, 2020 examinations of firms’...more
The Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) will be looking for good faith compliance when it conducts examinations of Form CRS after the June 30, 2020 compliance...more
As the world is navigating through COVID-19 and as we are focused on our health and well-being as we self-quarantine and engage in social distancing to do our part to stop the spread, our markets remain open, active, and...more
In light of the significance of the final rules and Commission interpretations issued by the Securities and Exchange Commission (SEC) on June 5, 2019, our Best Interest Compliance Team issued a series of articles on the...more
The SEC, through its Office of Compliance Inspections and Examinations (“OCIE”), recently issued its most detailed cyber guidance to date. OCIE had previously issued several cybersecurity risk alerts over the past few years....more
2/13/2020
/ Corporate Issuers ,
Cybersecurity ,
Data Management ,
Incident Response Plans ,
Internal Controls ,
Investment Adviser ,
New Guidance ,
OCIE ,
Risk Alert ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Security and Privacy Controls ,
Third-Party Service Provider
On August 29, 2019, the SEC filed a complaint against a registered investment adviser alleging failures to disclose four categories of conflicts of interest and seeking disgorgement of $10 million in undisclosed compensation....more
9/12/2019
/ Conflicts of Interest ,
Disclosure Requirements ,
Disgorgement ,
Enforcement Actions ,
Failure To Disclose ,
Investment Adviser ,
OCIE ,
Revenue Sharing ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Share Class Selection Disclosure Initiative (SCSD) ,
Share Classes