On August 12th, 2020 the OCIE Released a Risk Alert covering COVID-19 Compliance Risks and Considerations for Investment Advisers and Broker-Dealers. The OCIE identified numerous issues related to COVID-19 that are relevant to RIA’s and Broker-Dealers. Market Volatility is said to be a factor in these risks and has most definitely heightened them.
The Alert is to help Investment Advisers and Broker-Dealers recognize these risks and challenges so they can improve upon their compliance program to combat them. Risk areas include Protection of Investor Assets, Supervision of Personnel, Fees, Expenses, and Financial Transactions, Investment Fraud, Business Continuity, and Protection of Sensitive Information.
Please consider reading the full Risk alert and assessing areas where you may be impacted. Vigilant is always here to help, please contact us for expertise if needed.
Feel free to contact us with any questions or concerns.
The Team at Vigilant