How to Prepare for an SEC Examination

Published on Aug 12th, 2019

No matter how smoothly your firm operates or how diligent your compliance team is, the prospect of an SEC examination strikes fear, stress and anxiety into investment advisers and registered investment companies. Because regulations are constantly in flux, it's difficult to fully gauge how your compliance policies and procedures stand up to the requirements. For some firms, the first real test of their compliance program's effectiveness happens during an SEC examination. Unfortunately for those firms, about 75 percent of exams over the past five years have found deficiencies within a firm's compliance program. As the SEC's National Examination Program continues to ramp…

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The Impact of GDPR on the Asset and Wealth-Management Industry

Published on Aug 12th, 2019

Regarded as the largest data regulation act in modern European history, the General Data Protection Regulation (GDPR) has taken the compliance world by storm.  Adopted in April of 2016, the new regulation addresses the mounting concern over the use and security of private consumer information online — with its sight set on a complete regulatory overhaul. GDPR becomes effective on May 25, 2018. As that date rapidly approaches, it's no surprise that questions and concerns for GDPR and the wealth-management industry have blossomed. As written, GDPR's impact on fund, investment and asset managers could be large, costly, and time consuming.  …

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Why Is Cybersecurity Important for Investment Advisers?

Published on Aug 12th, 2019

Cybersecurity remains vital for investment advisers. As new cyber threats are identified, cybersecurity will remain paramount for these advisers both now and in the future. The PricewaterhouseCooper (PWC) “State of Information Security Survey 2016” revealed 91 percent of businesses currently follow a risk-based cybersecurity framework. Investment advisers, meanwhile, must be able to identify the key issues associated with cybersecurity as well as the best ways to manage these problems. Fortunately, cybersecurity guidance is readily available — but first, it is important to examine why cybersecurity is important for investment advisers. Get Cybersecurity Guidance Today About Cybersecurity Compliance Services Why Is…

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Guide to SEC Investment Adviser Registration

Published on Aug 12th, 2019

Becoming a registered investment advisor (RIA) is not merely an industry best-practice. In most cases, it's a regulatory obligation that stamps more than security and quality assurance onto your services — it means you or your advisory firm stay in operation. Under the Dodd-Frank regulatory act of 2010, updates were made on the registration qualifications and certification process for investment advisors. These updates now outline the parameters under which an investment advisor can't merely rely on state registration and must enroll with the U.S. Securities and Exchange Commision (SEC) itself: You or your firm hold $100 million or higher in assets…

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Stock Market Analyst Barred for Illegally Cashing In On His Research Reports

Published on Sep 26th, 2017

The Securities and Exchange Commission today charged a stock market analyst with insider trading prior to the publication of research reports and articles he authored with the false disclaimer that he wasn’t trading in the companies being covered.  He agreed to settle the charges and be barred from trading in penny stocks for the rest of his life. The SEC alleges that Jason Napodano, who headed a division called Zacks Small Cap Research within a larger investment research firm, misled investors in penny stocks by representing that he wasn’t trading or holding positions in the companies he was writing about…

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