August 14, 2020

OCIE Releases Risk Alert on Compliance Risks During COVID-19

Kilpatrick

+ Follow Contact

Send

Embed

Kilpatrick

On August 12, 2020, the Office of Compliance Inspections and Examinations issued a risk alert related to COVID-19 compliance risks (“Risk Alert”).[1] The Risk Alert applies to both investment advisers and broker-dealers and highlights six categories of compliance risk:

Protection of investors' assets;
Supervision of personnel;
Practices relating to fees, expenses, and financial transactions;
Investment fraud;
Business continuity; and
Protection of investor and other sensitive information.

Footnotes

[1] SEC Office of Compliance Inspections and Examinations, Select COVID-19 Compliance Risks and Considerations for Broker-Dealers and Investment Advisers (August 12, 2020), available at https://www.sec.gov/files/Risk%20Alert%20-%20COVID-19%20Compliance.pdf.

Send Print Report

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.