Videocast: Asset management regulation in 2020 videocast series – The ADV season
Videocast: Asset management regulation in 2020 videocast series – Complying with new SEC rules for broker-dealers
Videocast: Form CRS delivery obligations
Regulation Best Interest Videocast Series: Special Challenges For Dual Registrants
Each year, the SEC’s Division of Examinations (f.k.a. OCIE) (the “Division”) releases its priorities for the upcoming year, providing SEC registrants with a helpful tool to assist in managing, reviewing, and updating their...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
All things come to those who wait … even Regulation Best Interest (colloquially known as Reg BI). In what now feels like a lifetime since the Securities and Exchange Commission (SEC) adopted it (believe it or not, it was only...more
SEC Grants Additional COVID-19 Relief to Business Development Companies - On April 8, the SEC issued an order granting relief to business development companies (BDCs) by permitting BDCs to issue and sell senior securities...more
On April 7, 2020, the U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) announced that, after the initial June 30, 2020 compliance date to file Form CRS, the OCIE will conduct...more
New Rules, Proposed Rules, Guidance and Alerts - PROPOSED RULES - SEC Proposes New Fair Valuation Framework for Registered Funds - Under the Investment Company Act of 1940, securities held by a fund for which...more
On April 7, 2020, the Securities and Exchange Commission’s (the “SEC” or the “Staff”) Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert to provide SEC-registered broker-dealers and investment...more
With the compliance date of June 30, 2020 approaching for Form CRS and its related rules, the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) recently issued a risk...more
The June 30 deadline for compliance with Regulation Best Interest [1] and Form CRS [2] presents new compliance obligations for broker-dealers and investment advisers engaging in a retail business. In anticipation of this...more
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's (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a risk alert in connection with upcoming examinations that will focus on compliance with Form...more
On June 5, 2019, the Securities and Exchange Commission (“SEC”) adopted Regulation Best Interest (“Regulation Best Interest” or “Reg BI”), which establishes a new standard of conduct under the Securities Exchange Act of 1934...more
On April 7, 2020, the staff of the Office of Compliance Inspections and Examinations (OCIE) issued a risk alert (Alert) informing investment advisory firms of the potential areas of focus for Form CRS-related examinations. In...more
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations issued two Risk Alerts (Risk Alerts)1 on April 7, 2020, identifying the scope and content of OCIE’s initial examinations following the...more
On April 7, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published two Risk Alerts for Regulation BI and the corresponding Customer Relationship Summary Form (Form CRS). The Risk Alerts outline the...more
Last year, the Securities and Exchange Commission (“SEC”) adopted measures intended to enhance the protection of retail investors who engage financial professionals to assist them with investments. Regulation Best Interest...more
On April 7, 2020, the SEC's Office of Compliance Inspections and Examinations ("OCIE") issued two risk alerts regarding the expected scope and content of initial examinations for compliance with Form CRS and Regulation Best...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
Paycheck Protection Problems. In last week’s Roundup, we discussed the initial guidance issued by the U.S. Department of the Treasury (Treasury) and the Small Business Administration (SBA) on the implementation of the...more
On April 2, Chair Clayton said the SEC would hold firm on the June 30 compliance deadline for Regulation Best Interest (“Reg. BI”) and Form CRS, but suggested early examinations might focus more on compliance efforts than...more
Inspections for compliance with Form CRS and its rules will begin after the June 30, 2020 filing date, according to an OCIE Risk Alert dated April 7, 2020. The Alert identifies key areas the staff will be examining regarding...more
As McGuireWoods reported in an April 6, 2020, legal alert, the U.S. Securities and Exchange Commission (SEC) has indicated that it will not be delaying the June 30, 2020, compliance deadline for Regulation Best Interest (Reg...more
This week OCIE issued twin alerts relating to the upcoming implementation of Reg BI. A lot of the statements are nothing new – brief repetitions of the Regulation, the four obligations, etc. None of that should be new...more
Part 3 of a weekly series detailing approaches that independent board members are utilizing to address coronavirus-related matters and highlighting emerging issues. Part 1 and Part 2 of the series may be accessed on our...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