A recent petition on the Securities and Exchange Commission (SEC) website has begun to bring light to a move by advocacy groups and others to force disclosures of corporate political campaign funds. Proponents seek the adoption of a rule by … Read More
A bill for the Securities and Exchange Commission (SEC) to allow the Commission to collect fees from investment advisers for funding of examinations has been recently re-introduced in Congress by Representatives Maxine Waters of California and John Delaney of Maryland. … Read More
The recent SEC release of exam priorities serves as a helpful reminder that broker-dealer (BD) and investment advisory (IA) firms should ensure they are prepared when the SEC comes knocking. Below are some steps that you may want to consider in … Read More
The use of social media has become a very convenient and economical way for companies and individuals to share and broadcast information. However, this avenue of advertising and communication has attracted the attention of both federal and state regulators. Last … Read More
Mar./Apr. 2013
Last, but not least, another rule that firms should be aware of is NASD Conduct Rule 3060. This rule prohibits firms from giving any gift or gratuity in excess of $100 per year to any person where such payment is … Read More
Another rule that firms must be mindful of in monitoring is the SEC’s, Pay-to-Play Rule. The Rule is designed to prevent investment advisers (IAs) from obtaining governmental business, through direct or indirect campaign contributions made by certain high-level employees to … Read More
Advisory firms continue to monitor gifts and entertainment by reviewing all statutory and regulatory requirements, one of which is the reporting requirements of the Labor-Management Reporting and Disclosure Act of 1959 (“LMRDA”). Firms may be subject to the LMRDA as … Read More
Gifts and entertainment can establish goodwill between securities professionals and their clients. However, some gifts and entertainment benefits can be too frequent or so excessive as to give rise to an appearance of improper influence. To prevent improprieties, governmental agencies … Read More
