Published on Mar 3rd, 2024 |

Vigilant Compliance Newsletter | February 2024

Monthly Newsletter

In February, we saw Vigilant Insights, SEC Releases, and News and Alerts throughout the Industry.

Below is a brief overview of what took place in the month of February, and what is approaching for March.

New Rules, Regulations, and Guidance

New Rules, Regulations, and Guidance

Upcoming Filings:

  • 03/07/24 – Form N-MFP
  • 03/11/24 – Form 13G Monthly
  • 03/16/24 – Form N-CEN
  • 03/30/24 – Form ADV Annual
  • To stay up to date with the SEC Filing Deadlines in 2024, click HERE to view Vigilant’s Filing calendar.

Events & Public Appearances by Officials:

Materials

Materials

Vigilant Announcements:

Vigilant Named as 2024 Best Compliance Advisory Firm

Vigilant Insights:

Importance of a Strong Culture of Compliance | Chelsea Bosiljevac Insights

  • Vigilant Director, Chelsea Bosiljevac, Esq., IACCP®, emphasized the importance of having a strong culture of compliance on FundFire as it relates to the recent recordkeeping and off-channel communication fines.
  • To view her insights and our conclusion, click here.

SEC Releases:

  • The SEC announced that sixteen (16) Firms were penalized $81 Million for widespread and longstanding recordkeeping failures.
  • To view what was discovered, the final results of the findings and our conclusionclick here.
  • The SEC adopted amendments to Form PF on February 8th, 2024.
  • Their goal is to enhance reporting by large hedge fund advisers to assist regulators in identifying trends, monitoring and assessing systemic risk, and lessening the burden on advisers.
  • To view the amendments adopted, Commissioner statements and our conclusionclick here.
  • SEC Chair, Gary Genslerrecently spoke at a Yale Law School event about Artificial Intelligence (“AI”) and the important role that regulators play.
  • To view the key takeaways from his speech and our conclusionclick here.
  • Broker Dealer was charged $2.2 Million on February 16th for failures to comply with Regulation Best Interest (“Reg BI”).
  • To view what happened and our conclusionclick here.
  • An RIA was recently charged $1.5 Million by the SEC for failing to provide proper disclosures about the launch of one of its new ETFs.
  • To view what happened and our conclusionclick here.

FINRA:

The Vigilant Team is always happy to schedule a time to chat, feel free to contact us with any questions!

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