SEC Releases

How to Define the Parameters of Personal Liability for Compliance Officers

Due to the impact of COVID-19 it has created an increasingly difficult regulatory environment with complications for Compliance Professionals. Throughout this impact of the COVID-19 pandemic it has been crucial to maintain a solid working relationship between compliance officers at regulated entities and the OCIE. The greater focus for today is going to be towards defining the […]

Read More

SEC Proposed Exemption from Broker-Dealer Registration for Finders

On October 7th, the SEC released a public statement stating that the Commission has proposed to create a new exemption that will permit individuals to engage in traditional brokerage activity without the important investor protections that come with registration as a broker-dealer. This is essentially creating a new category of unregistered financial professionals. The expectations are to do this through exemptive […]

Read More

Regulatory Framework for Fund of Funds Arrangements is Updated by the SEC

Starting today on October 7th, the Securities and Exchange Commission voted to adopt a new rule and related amendments to facilitate a comprehensive regulatory framework for fund of funds arrangements. The rule will create a consistent and efficient rules-based regime for the formation and oversight of funds of funds because of the Commission’s decades of experience with fund of funds arrangements. SEC Chairman, […]

Read More

SEC Adopts Amendments to “Accredited Investor” Definition

On August 26th, the SEC made amendments to the “Accredited Investor” definition in attempts to modernize it. The definition is one of the principal tests to determine the eligibility of those looking to participate in private capital markets. Previously, individual investors who did not meet specific income or net worth tests were denied the opportunity to invest in multifaceted and […]

Read More

SEC Updates Filing Threshold to Rule 17h Reporting Requirements for Broker-Dealers

The SEC announced it has issued an order to update the filing threshold for broker-dealers Form 17-H Filings made pursuant to Exchange Act Rules 17h-1T and Rule 17h-2T. This threshold has not been updated in around 30 years. The SEC’s Office of the Inspector General had published earlier this year that raising the threshold would […]

Read More

Private Fund Adviser and Investor OCIE Risk Alert

The OCIE, Office of Compliance Inspections and Examinations, released a Risk Alert concerning examinations of RIA’s that manage private equity funds or hedge funds. The risk alert is targeted toward private fund advisers and investors of private funds to give fund advisers assistance in reviewing their compliance programs, and investors insights into adviser deficiencies. The […]

Read More

LIBOR Transition Preparedness

The OCIE announced the transition away from LIBOR as an examination program priority for FY 2020. LIBOR is formally known as the London Interbank Offered Rate and is used around the world as a “reference rate” for commercial and financial contracts. For SEC registered investment advisers and broker-dealers this transition may present a high material risk. In order […]

Read More

SEC Whistleblower Payouts and What It Means for You

The SEC recently announced that they awarded the single largest individual reward ever – a $50 million whistleblower award to an individual who recorded misconduct by a company. The SEC Whistleblower program has reached $500 million in total awards which has been proven to encourage the reporting of wrongdoing, in turn,  protecting investors and combating fraud. What […]

Read More

SEC Releases an FAQ on COVID-19 Efforts

The FAQ that the SEC released encompasses their efforts and their impacts for firms and funds due to COVID-19. The questions are to their responses on the pandemic that affect Investment Advisors, Broker-Dealers, and Private Funds. This is important to make sure that you are up to date and understand clearly where these changes will […]

Read More

OCIE to Complete Inspections for Compliance with Regulation Best Interest and Form CRS

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released risk alerts regarding examinations for compliance with Regulation Best Interest (“Reg-BI”) and Form CRS. These risk alerts will provide Broker-Dealers and Registered Investment Advisors (“RIAs”) with more information to understand the scope of the initial exams. The compliance date for Regulation Best Interest and Form […]

Read More

SEC Office of Compliance Inspections and Examinations Publishes Observations on Cybersecurity

The SEC’s Office of Compliance Inspections and Examinations (OCIE) today issued examination observations related to cybersecurity and operational resiliency practices taken by market participants. The topics addressed in the observations include: Governance and Risk Management Access rights and Controls Data Loss Prevention Mobile Security Incident Response and Resiliency Vendor Management Training and Awareness If you’d like to read the […]

Read More

SEC Office of Compliance Inspections and Examinations Announces 2020 Examination Priorities

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) today announced its 2020 examination priorities. OCIE publishes its examination priorities annually to enhance the transparency of its examination program and to provide insights into its risk-based approach, including the areas it believes present potential risks to investors and the integrity of the U.S. […]

Read More
Page 1 of 701234567Last »