Vigilant Monthly Newsletter

Published on Jul 5th, 2023 |

Vigilant Monthly Newsletter | June 2023

Monthly Newsletter

In June, we saw SEC Releases and Charges, Vigilant Insights and Announcements, and News and Alerts throughout the Industry.

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

Upcoming Filings:

07/10/23 – Form 13G Monthly
07/10/23 – Form 13H Quarterly
07/10/23 – Form N-MFP
07/15/23 – Form PF Liquidity Fund Quarterly
07/31/23 – AIFMD Annex IV MIFIDPRU: Application for use of the Group Capital Test
To stay up to date with the SEC Filing Deadlines in 2023, click HERE to view Vigilant’s Filing calendar.

Events & Public Appearances by Officials:

Vigilant Announcements:

Vigilant is thrilled to announce that we have been selected as the Best Outsourced Solution and Best Regulatory Advisory & Compliance Firm by Hedgeweek in conjunction with Bloomberg for their Emerging Manager Awards.
To view they key statistics regarding our win, click here.

Vigilant Insights:

5 Rising Topics in the Compliance Industry | 2023

As the SEC continues to propose numerous rules and amendments, while also handing out millions in fines, it would be prudent for Firms to be aware of growing areas of compliance awareness in the industry.
To learn more about the 5 Rising Compliance Topics, 5 Helpful Steps Towards Success, and our conclusion, click here.

Vigilant’s own, Donna DiMaria, was spotlighted by ETF Express providing insights on the recent SEC Risk Alert on the Marketing Rule.
To learn more about her detailed insights and our conclusion, click here.

As the SEC continues to focus on enforcement related to ESG, Firms should take the necessary steps to prepare for the possible compliance issues ESG may bring.
To view steps to be proactive and our conclusion, click here.

As arbitration claims to FINRA under Reg BI continue to increase, Firms should take steps now to limit their risk of potential compliance violations.
To view 6 tips for staying compliant with Reg BI, SEC and FINRA actions related to Reg BI and our conclusion, click here.

SEC Releases:

On June 20^th, the SEC charged a New York Investment Adviser for excessive management fees and failure to disclose conflicts of interest.
To learn more about what happened and our conclusion, click here.

The SEC has announced its Spring 2023 Regulatory Agenda. SEC Chairman, Gary Gensler, explains the regulatory goals as focusing on a three-part mission to protect investors, maintain the efficiency and fairness of markets, and facilitate capital formation.
To learn more about who this applies to, rules in the final stage, and our conclusion, click here.

On June 8^th, the SEC released a Risk Alert related to the Marketing Rule. The Risk Alert substantiates the marketing review process that Vigilant is currently conducting.
To view key areas the SEC is focusing on during Examinations, additional areas of focus by the SEC, and our conclusion, click here.

A New York RIA was charged $275,000 by the SEC on May 24^th for Compliance failures related to their valuation of Private Funds.
To view what was discovered and our conclusion, click here.

News and Alerts:

AI Use for Private Equity Firms remains Questionable

Compliance officers of Private Equity Funds have generally taken a cautious approach to allowing employees to use artificial intelligence (“AI”).
To learn more about the regulatory concerns and our conclusion, click here.

The Investment Adviser Association (“IAA”) has publicized their disagreement with four SEC proposals regarding investment advisers.
To learn more about their disagreement and our conclusion, click here.

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