Based on updates to its rulemaking agenda that were released last week, the U.S. Securities and Exchange Commission (SEC) has delayed approval of two cybersecurity rules until at least October 2023. Both proposed rules were...more
Last month, the SEC took a big step toward strengthening the cybersecurity of financial systems by proposing regulations that, taken together, will require registered investments advisers, broker‑dealers, and all national...more
4/14/2023
/ Broker-Dealer ,
Cyber Incident Reporting ,
Cybersecurity ,
Financial Services Industry ,
Investment Adviser ,
Policies and Procedures ,
Popular ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934
On February 7, 2023, the Securities and Exchange Commission’s (SEC) Division of Examinations (EXAMs) announced its 2023 Examination Priorities (the “Priorities”), which highlight areas it expects to target in 2023...more
2/22/2023
/ Broker-Dealer ,
Compliance ,
Cryptocurrency ,
Cybersecurity ,
Environmental Social & Governance (ESG) ,
Fair Valuation ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Libor ,
Mutual Funds ,
Private Funds ,
Registered Investment Advisors ,
Regulation Best Interest ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
Sponsors and managers of private funds must attend to various routine regulatory and compliance tasks, which can include ongoing reporting obligations under the Investment Advisers Act of 1940 (the “Advisers Act”), updating...more
1/16/2023
/ CFTC ,
Cybersecurity ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Proposed Rules ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Vendors
The Investment Advisers Act of 1940 (the “Advisers Act”) is the shortest of the federal securities laws enacted after the Great Depression, and the SEC has adopted relatively few regulations under the Advisers Act. As any...more
6/13/2019
/ Advertising ,
Advisory Contracts ,
Business Continuity Plans ,
Cash Solicitation Rule ,
Compliance ,
Cybersecurity ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Marketing ,
OCIE ,
Pay-To-Play ,
Securities and Exchange Commission (SEC)
The SEC’s new Risk Alert provides valuable insight as to what the OCIE wants to see broker dealers and investment advisers accomplish with their privacy notices and their cybersecurity policies and procedures. The SEC wants...more
The National Exam Program of the SEC’s Office of Compliance Inspections and Examinations (OCIE) recently published its observations from the second generation of its Cybersecurity Initiative. It reported overall improvement...more
Regulation -
OCIE Cautions Advisers on Outsourcing Compliance Activities:
In a Risk Alert dated November 9, 2015, the SEC’s Office of Compliance Inspections and Examinations (OCIE) said it found that outsourced...more
11/18/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Anti-Money Laundering ,
CFTC ,
Compliance ,
Cybersecurity ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Management ,
Investor Protection ,
OCIE ,
Outsourcing ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swing Pricing ,
Volcker Rule
A registered investment adviser agreed to settle SEC charges that it failed to adopt adequate cybersecurity policies and procedures reasonably designed to protect customer records and information as required by Rule 30(a) of...more
9/25/2015
/ Civil Monetary Penalty ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Encryption ,
Free Identity Theft Protection ,
Hackers ,
Neither Admit Nor Deny Settlements ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Registered Investment Advisors ,
Regulation S-P ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Third-Party
The SEC’s Division of Investment Management issued guidance highlighting the importance of cybersecurity and discussing measures that registered investment companies (“funds”) and registered investment advisers (“advisers”)...more
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
2/27/2015
/ Background Checks ,
Broker-Dealer ,
CFTC ,
Compliance ,
Cybersecurity ,
Data Protection ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Equity Swaps ,
Financial Industry Regulatory Authority (FINRA) ,
Hedging ,
Investment Adviser ,
Investment Management ,
OCIE ,
Securities and Exchange Commission (SEC)
In This Issue:
- Regulation
..SEC Begins to Scrutinize Registrants’ Cybersecurity Practices
..SEC Staff Sets Boundaries for Adviser Testimonials in Social Media
..Chair White: SEC to Tackle High-Frequency...more
6/16/2014
/ Broker-Dealer ,
Cybersecurity ,
Dark Pool ,
Financial Industry Regulatory Authority (FINRA) ,
High Frequency Trading ,
Investment Adviser ,
JOBS Act ,
Legislative Agendas ,
Marijuana ,
New Legislation ,
Private Equity Funds ,
SEC Commissioner ,
Securities and Exchange Commission (SEC) ,
SIFIs ,
Transaction Fees
In its annual summary of regulatory and examination priorities, the Financial Industry Regulatory Authority (FINRA) signaled that it will aggressively pursue market misconduct. The January 11, 2013 report follows closely on...more