Published on Jul 1st, 2022 |

In June, we saw important SEC Releases, SEC Charges, important insights from Vigilant, and an adopted new Rule.

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

New Rules, Regulations, and Guidance

Upcoming Filings:

  • 7/11/22 – Schedule 13G Monthly
  • 7/11/22 – Form 13H Quarterly
  • 7/15/22 – Form PF Liquidity Fund Quarterly
  • 7/28/22 – MIFIDPRU Periodic Reporting
  • To stay up to date with the SEC Filing Deadlines in 2022, click HERE to view Vigilant’s Filing calendar.

Events & Public Appearances by Officials:

  • No Events and Public Appearances are currently posted by the SEC at this time for the month of July. Be sure to stay on the lookout for potential updates soon.
  • To see upcoming 2022 SEC Meetings and Public Appearances click HERE!


Vigilant Insights:

5 Current Trends in Compliance

  • Vigilant has provided 5 current trends in Compliance that we have already begun to see taking place in the Industry.
  • To view the current trends we have seen so far in 2022, click here!

Mutual Fund Compliance: An Overview of What You Need to Know

  • Vigilant provided a detailed overview for Mutual Fund Compliance that covers (1) Mutual Fund Compliance Consideration, (2) FINRA Mutual Fund Compliance, (3) Mutual Fund Compliance Checklist, and (4) ETF Compliance for Mutual Fund to ETF Conversions.
  • To view the full overview for Mutual Fund Compliance, click here!

Compliance Solutions for You

  • At Vigilant, we strive to assist you in alleviating the Compliance burden by being a Compliance Resource that allows you to focus more on the business activities, such as growing your Firm, while Vigilant maintains and oversees the Compliance function.
  • To view our Compliance Solutions one pager, click here!

SEC Enforcement/Charges:

SEC Imposes Largest Penalty Ever Against an Audit Firm

  • On June 28th, the SEC announced that they charged a well known Audit Firm for employees cheating on the CPA Ethics Exam and withholding evidence of this misconduct from the SEC’s Enforcement Division during the subsequent investigation.
  • Vigilant provided a brief synopsis of the issues that occurred, the findings and final results of the charge, and our final conclusion of the penalty. Click here to learn more!

SEC Charges Private Equity Adviser for Failing to Disclose Disproportionate Expense Allocations to Fund

  • The SEC announced on June 14th, that they charged a Private Equity Adviser with allocating undisclosed, disproportionate expenses to a Private Equity Fund it advises.
  • Vigilant has provided an overview of how this issue occurred, what the final findings were, and a final conclusion that can be found by clicking here!

SEC’s First-Ever Enforcement Proceeding Under Section 11 of the Investment Company Act of 1940

  • The SEC’s first-ever enforcement proceeding under Section 11 of the Investment Company Act of 1940 occurred for improper switching or replacement of variable annuities.
  • To learn more about how this occurred, what the findings were by the SEC, and Vigilant’s final conclusion, click here!

SEC Releases:

Spring 2022 Regulatory Agenda | SEC Announcements

  • On June 22nd, the SEC announced that the Office of Information and Regulatory Affairs released the Spring 2022 Unified Agenda of Regulation and Deregulatory Actions.
  • Vigilant has recirculated areas that were covered throughout the year that is applicable to the Agency Rule List for Spring 2022 as well as the SEC’s final remarks on the Regulatory Agenda. Click here to learn more!

SEC Adopts New Rule:

SEC Adopts Rules to Require Electronic Filings

  • On June 23rd, the SEC adopted amendments to require certain documents filed by investment advisers, institutional investment managers, and certain other entities to be filed or submitted electronically.
  • Vigilant provided a brief synopsis that highlights (1) efficiencies created, (2) when the new Rules and Form Amendments take place, (3) important changes pertaining to Form 13F, and (4) a final conclusion from Vigilant. Click here to view our two page overview!

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

The Team at Vigilant

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