The November 4, 2022, deadline for advisers to implement amended Rule 206(4)-1 (Marketing Rule) and related rules under the Investment Advisers Act of 1940 is fast approaching. Advisers required to comply with the rule are...more
10/24/2022
/ Advertising ,
Amended Rules ,
Cash Solicitation Rule ,
Compliance ,
Endorsements ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Marketing ,
Policies and Procedures ,
Private Funds ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Testimonial Statements
A registered investment adviser (RIA) that has “custody” of client funds or securities must comply with the provisions of Rule 206(4)-2 under the Investment Advisers Act of 1940 (Rule), including those related to the use of a...more
4/3/2020
/ Coronavirus/COVID-19 ,
Custodian of Records ,
Custody Rule ,
Division of Investment Management ,
Filing Requirements ,
Form ADV ,
Investment Advisers Act of 1940 ,
Private Offerings ,
Registered Investment Advisors ,
Relief Measures ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Verification Requirements
The 2020 Examination Priorities of the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission were announced on January 7, 2020, and cover eight broad topics:
- Protection...more
2/1/2020
/ Anti-Money Laundering ,
Broker-Dealer ,
Critical Infrastructure Sectors ,
Cybersecurity ,
Digital Assets ,
ETFs ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Innovation ,
Investor Protection ,
MSRB ,
Municipal Advisers ,
Mutual Funds ,
OCIE ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Retail Investors ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Stock Exchange
Massachusetts’ Secretary of the Commonwealth, William F. Galvin, caused the Securities Division to issue, on November 29, 2019, a revised proposed uniform standard of conduct for broker-dealers, investment advisers, and their...more
1/3/2020
/ Blue Sky Laws ,
Broker-Dealer ,
Conflicts of Interest ,
Duty of Loyalty ,
Federal v State Law Application ,
Fiduciary Duty ,
Investment Adviser ,
Preemption ,
Proposed Rules ,
Public Hearing ,
Registered Investment Advisors ,
Regulation Best Interest ,
Standard of Conduct ,
State Securities Regulators
The U.S. federal securities laws, the Commodity Exchange Act and regulations thereunder, and certain other applicable federal laws, rules and regulations, as well as rules of U.S. self-regulatory organizations (such as the...more
1/31/2019
/ Commodities Traders ,
Commodity Exchange Act (CEA) ,
Commodity Pool ,
Compliance ,
CPOs ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Investment Adviser ,
Investment Management ,
NFA ,
Private Funds ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities ,
Securities and Exchange Commission (SEC)
The U.S. federal securities laws and the rules of U.S. self regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on investment advisers and funds....more
1/24/2018
/ Beneficial Owner ,
Benefit Plan Sponsors ,
CFTC ,
Commodities ,
Commodity Trading Advisors (CTAs) ,
Compliance ,
CPO ,
Cross-Border Transactions ,
Department of Labor (DOL) ,
Derivatives ,
Employee Retirement Income Security Act (ERISA) ,
Equity Securities ,
Filing Deadlines ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Investment ,
Form 13F ,
Form ADV ,
Form D Filing ,
Form PF ,
Investment Adviser ,
Investment Funds ,
Investors ,
NFA ,
Offerings ,
Private Funds ,
Private Placements ,
Registered Investment Advisors ,
Reporting Requirements ,
Schedule 13D ,
Securities and Exchange Commission (SEC) ,
Securities Traders ,
Securities Violations ,
Self-Certification ,
Verification Requirements ,
Virtual Currency
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 September 14, 2017 (Risk Alert). The Risk Alert highlights...more
10/18/2017
/ Advertising ,
Compliance ,
Examination Procedures ,
False Statements ,
Investor Protection ,
Marketing ,
Misleading Impressions ,
OCIE ,
Registered Investment Advisors ,
Risk Alert ,
Securities and Exchange Commission (SEC)
The staff of the Division of Investment Management (Staff) of the U.S. Securities and Exchange Commission (SEC) published a Guidance Update (Guidance) on February 23, 2017, on the subject of automated investment advisers...more
3/15/2017
/ Compliance ,
Disclosure Requirements ,
Division of Investment Management ,
Guidance Update ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Management ,
OCIE ,
Policies and Procedures ,
Registered Investment Advisors ,
Robo-Advisors ,
Securities and Exchange Commission (SEC)
The U.S. federal securities laws and the rules of U.S. self-regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on investment advisers and funds....more
2/21/2017
/ Accredited Investors ,
Benefit Plan Sponsors ,
CFTC ,
Compliance ,
Cross-Border Transactions ,
Employee Retirement Income Security Act (ERISA) ,
Equity Securities ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
Form PF ,
Fund Managers ,
Hedge Funds ,
Investment Adviser ,
NFA ,
Private Funds ,
Private Placements ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
Investment advisers registered with the U.S. Securities and Exchange Commission (SEC) may use a variety of business and organizational models, which may include structures with one or more branch offices. In announcing its...more
A settled enforcement action, announced by the U.S. Securities and Exchange Commission (SEC) on September 14, 2016, continues the trend of increased SEC scrutiny of private equity advisers concerning the allocation and...more
10/21/2016
/ Cease and Desist Orders ,
Conflicts of Interest ,
Disclosure Requirements ,
Discounts ,
Dodd-Frank ,
Enforcement Actions ,
Excessive Fees ,
Fund Expenses ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
OCIE ,
Policies and Procedures ,
Private Equity Funds ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC)
A U.S. Securities and Exchange Commission (SEC) no-action letter issued on April 25, 2016 provides relief from the annual surprise audit requirement of the “Custody Rule” for a registered investment adviser (RIA)...more
The New York City Council recently passed two amendments to the New York City Human Rights Law that are likely to substantially affect the manner in which firms in New York City may evaluate the qualifications and background...more
10/5/2015
/ Background Checks ,
Broker-Dealer ,
Brokers ,
Credit Checks ,
Criminal Background Checks ,
Fair Chance Act ,
Financial Industry Regulatory Authority (FINRA) ,
Human Rights ,
Investment Adviser ,
Registered Investment Advisors ,
SCDEA ,
Securities and Exchange Commission (SEC) ,
SRO
The United States is proposing rules that, for the first time, would subject investment advisers registered or required to be registered (RIAs) with the U.S. Securities and Exchange Commission (SEC) under the Investment...more
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a notice of proposed rulemaking on August 25, 2015,1 pertaining to all investment advisers registered or required to be registered...more