Published on Oct 6th, 2022 |

Vigilant Monthly Newsletter

In this edition of Vigilant’s Monthly Newsletter for September, we saw our highest amount of content for the year which included important SEC releases and charges, as well as important insights and announcements from Vigilant.

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

New Rules, Regulations, and Guidance

Upcoming Filings:

  • 10/11/22 – Schedule 13G Monthly
  • 10/11/22 – Form 13H Quarterly
  • 10/15/22 – Form PF Liquidity Fund Quarterly
  • 10/28/22 – MIFIDPRU Reporting
  • 10/31/22 – AIFMD Annex IV
  • 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:


Vigilant Insights:

Vigilant’s Chief Operating Officer, Chuck Martin, provided his insights on BoardIQ that focuses on the SEC’s examination of a Fund’s Compliance with their new derivatives ruling a mere 11 days after the compliance deadline.

  • Chuck Martin was quoted on BoardIQ providing his observations towards the SEC’s examination approach of 18f-4.
  • To view his insights and our final conclusion, click here!

“Do It Yourself” Compliance | 5 Unintended Outcomes

  • Many firms underestimate the importance of a designated compliance team supporting their business.
  • To view the 5 unintended outcomes from “do it yourself” Compliance and our final conclusion, click here!

What Is a Compliance Risk Matrix & Why Is It So Important?

  • Understanding your company’s potential for risk exposure is an important thing, as the penalties for non-compliance can be steep.
  • To view our in-depth release on why a Compliance Risk Matrix is crucial, click here!

Vigilant’s COO, Chuck Martin, and Manager, Ryan Hurley, Quoted in Ignites on the Newly Effective Fair Value Rule

  • Chuck Martin and Ryan Hurley were both quoted in Ignites providing their thoughts and insights towards the SEC’s Fair Value Rule that is now effective as of September 8th, 2022.
  • To view their insights and thoughts, click here!

Vigilant’s COO, Chuck Martin, Quoted in BoardIQ on the SEC’s Drafted Strategic Plan

  • Chuck Martin, was quoted in BoardIQ providing his thoughts and insights towards the SEC’s Drafted Strategic Plan that was originally released on August 24th, 2022.
  • To view his observations, click here to learn more!

Vigilant Announcements:

Private Equity Wire – Vigilant Shortlisted As Best Regulatory & Compliance Firm

  • We were thrilled to announce that we were shortlisted for our third award in the span of one week as the Best Regulatory & Compliance Firm for the Private Equity Wire US Awards 2022.
  • To view the entire announcement, click here!

Hedgeweek – Vigilant Shortlisted As Best Regulatory Advisory & Compliance Firm

  • We were thrilled to announce that we were shortlisted as the Best Regulatory Advisory & Compliance Firm for the Hedgeweek US Awards 2022.
  • To view the entire announcement, click here!

ETF Express – Vigilant Shortlisted As Best ETF Regulatory/Compliance Adviser

  • We were thrilled to announce that we were shortlisted as the Best ETF Regulatory/Compliance Adviser for the ETF Express US ETF Awards 2022.
  • To view the entire announcement, click here!

SEC Releases:

Risk Alert “Reminder” | New Marketing Rule

  • On September 19th, the Division of Examinations (“EXAMS”), released a Risk Alert towards upcoming review areas on the Marketing Rule for the compliance date of Friday, November 4th, 2022.
  • To view the 4 key areas reiterated by EXAMS for their examination process and our final conclusion, click here!

SEC Charges:

The SEC Charged $1.1 Billion to 16 Wall Street Firms

  • On September 27th, the SEC charged 16 firms over $1.1 Billion in penalties for “widespread and longstanding failures” to “maintain and preserve electronic communications”.
  • To view what went wrong, the SEC’s comments from their findings, and our final conclusion, click here!

$35 Million Charged by the SEC Over Failures to Protect “PII”

  • On September 20th, the SEC charged a well known Firm with a $35 Million penalty over failures to protect Personal Identifying Information (“PII”) over a 5 year period of approximately 15 million customers.
  • To view the 6 failures EXAMS identified and our final conclusion, click here!

SEC Charges 9 Investment Advisers on Custody Rule and ADV Violations

  • On September 9th, the SEC charged 9 investment advisers that failed to comply with requirements relating to safekeeping client assets and/or to timely update their SEC disclosures to reflect the status of audits of financial statements for the private funds they advised.
  • To view 4 common issues found, the penalties, SEC’s comments, and our final conclusion with insights from our Managing Director, Jerry Scarpati, click here!

News and Alerts

SEC Chair Provides Comments on the SEC’s Agenda

  • SEC Chair, Gary Gensler, made multiple comments during a 30-minute discussion with IAA CEO, Karen Barr, that gave insight into the SEC’s agenda for the industry’s regulatory environment.
  • To view his Mr. Gensler’s notable comments and our final conclusion, click here!

Industry Events

SEC Hosting A Compliance Outreach Program Seminar On Nov. 15

  • The SEC recently announced the date for their Compliance Outreach Program National Seminar which will be on Tuesday, November 15th, at 8:30 AM ET (virtually).
  • To view the 7 panel topics that will be discussed, as well as our final conclusion, click here!

We hope you enjoyed the Vigilant Monthly Newsletter for the month of September.

We are always happy to schedule a time to chat, feel free to contact us with any questions!

The Team at Vigilant

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