In a highly anticipated opinion, the Fifth Circuit announced on June 5, 2024 its decision to vacate rules adopted by the Securities and Exchange Commission (SEC or the Commission) in 2023 (collectively, the Rule) that would...more
On April 17, 2024, the Securities and Exchange Commission’s (SEC) Division of Examination (Division) issued a Risk Alert to provide information about investment advisers’ compliance with amended Rule 206(4)-1 (Marketing Rule)...more
On July 26, 2023, the Securities and Exchange Commission (SEC or the Commission) announced proposed rules (the proposal) under the Securities Exchange Act of 1934 (the Exchange Act) and the Investment Advisers Act of 1940...more
On June 17, 2021, the Securities and Exchange Commission (SEC) issued an order (the “Order”) approving a revision to Rule 205-3 under the Investment Advisers Act of 1940, as amended (the “Advisers Act”), which exempts...more
The Securities and Exchange Commission (SEC) announced on Dec. 22, 2020, that it has finalized amendments to the current advertising rule (Rule 206(4)-1) and cash solicitation rule (Rule 206(4)-3) under the Investment...more
1/4/2021
/ Advertising ,
Endorsements ,
Financial Regulatory Reform ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Marketing ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Solicitation ,
Testimonial Statements
The Securities and Exchange Commission (the SEC) announced on Monday that it had voted to propose amendments to modernize Rule 206(4)-1 (which addresses investment adviser advertisements) (the Advertising Rule) and Rule...more
11/7/2019
/ Advertising ,
Cash Solicitation Rule ,
Comment Period ,
Disclosure Requirements ,
Form ADV ,
Investment Advisers Act of 1940 ,
Investment Management ,
No-Action Letters ,
Proposed Amendments ,
Regulatory Agenda ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Third-Party ,
Written Agreements
Failures by a number of investment advisers to comply with certain rules governing principal and agency cross trades has prompted the compliance inspections staff of the Securities and Exchange Commission (SEC) to issue a...more
10/1/2019
/ Cross Trading ,
Disclosure Requirements ,
Failure to Comply ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
OCIE ,
Policies and Procedures ,
Pooled Investment Vehicles ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Strict Compliance
On July 11, 2018, the Securities and Exchange Commission (SEC) issued a risk alert outlining certain compliance issues identified by its Office of Compliance Inspections and Examinations (OCIE) related to the obligation to...more
8/1/2018
/ Best Execution ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
OCIE ,
Policies and Procedures ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Strict Compliance
On Sept. 14, 2017, the Securities and Exchange Commission (the “SEC”) issued a risk alert outlining certain compliance issues identified by the regulator’s Office of Compliance Inspections and Examinations (“OCIE”) related to...more
On July 6, the Securities and Exchange Commission (SEC) reached a settlement with respondent Paramount Group Real Estate Advisor LLC (Respondent) regarding certain alleged violations of the Investment Advisers Act of 1940, as...more
The Securities and Exchange Commission’s (SEC) Division of Investment Management recently modified its “Frequently Asked Questions on Form ADV and IARD,” adding several new topics and updating one existing item....more
On May 3, the Securities and Exchange Commission (SEC) released proposed amendments to certain rules under the Investment Advisers Act of 1940 (the Advisers Act) to reflect the impact of the Fixing America’s Surface...more
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
3/2/2017
/ Books & Records ,
Chief Compliance Officers ,
Covered Agreement ,
Custody Rule ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Data Protection ,
Enforcement Actions ,
Ethics ,
EU ,
Filing Requirements ,
Financial Institutions ,
Financial Services Industry ,
Form ADV ,
Insurance Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
NYDFS ,
OCIE ,
Registered Investment Companies (RICs) ,
Regulatory Oversight ,
Reinsurance ,
Risk Alert ,
Rule 204-2 ,
Securities and Exchange Commission (SEC) ,
Strict Compliance