Vigilant Compliance Newsletter | December 2024
Monthly Newsletter
In December, there were important releases that contained both Vigilant Insights and SEC Releases content. There was also a Vigilant Announcement regarding a recent Award Win.
Below is a brief overview of what took place in the month of December, and what is approaching for January.
New Rules, Regulations, and Guidance
Events & Public Appearances by Officials:
- 1/08/25 – Closed Meeting
- 1/10/25 – Closed Meeting
- To see upcoming 2025 SEC Meetings and Public Appearances click HERE!
Materials
Vigilant Announcements:
Vigilant Selected as Best Regulatory & Compliance Adviser | IAM Awards
- For the second year in a row, Vigilant was selected as the 2024 Best Regulatory & Compliance Adviser by InstitutionalAssetManager (IAM).
- To view the Award win, click here.
Vigilant Insights:
The Importance of Compliance Testing | Vigilant Insights
- As Firms finalize their compliance programs from 2024, a common concern for Compliance Officers focuses on Annual Testing.
- In this Vigilant Insights release, we covered the importance of compliance testing and highlighted key testing areas to be aware of.
- To view the important Compliance Testing areas, click here.
Paul Atkins Nominated as SEC Chair | Salvatore Faia Insights
- Our President & CEO, Salvatore Faia, JD, CPA, CFE, provided his insights on WealthManagement.com regarding the nomination of Paul Atkins as SEC Chair.
- To view Salvatore’s insights, click here.
Trade Allocations Enforcement | Salvatore Faia Insights on Barron’s
- Our President & CEO, Salvatore Faia, JD, CPA, CFE, provided his insights on Barron’s regarding a recent charge against a Fund Manager on Trade Allocations.
- To view Salvatore’s insights, click here.
SEC Releases:
- After four investment advisers and registered representatives (hereby, financial advisors) were charged with stealing millions of dollars, their Firm was charged a $15 million penalty for failing to supervise and prevent these actions.
- Learn more about what was discovered and our final conclusion here.
- On December 13th, 2024, charges were announced against seven (7) Private Fund Advisers due to their failure to file Form PF.
- The total number of years without filing, across all seven (7) Firms, amounted to 30 years.
- To learn more about the Form PF failures for these Advisers, click here.
The Vigilant Team is always happy to schedule a time to chat, feel free to contact us with any questions!
