Episode 96: How The 2022 SEC Exam Priorities will Affect Your Firm
On episode 96 of the CCO Buzz podcast, Tina Mitchell, Managing Director of Consultation Services, discusses the 2022 SEC Exam Priorities.
CRS | Cybersecurity | Investment Adviser | Risk Management Updates (RMU) | Securities and Exchange Commission (SEC)
SEC 2022 Exam Priorities – Learn How They Will Affect Your Compliance Program
The release of the exam priorities report[1] was later this year than in prior years but appears to be worth the wait. In this year’s report, the Securities and Exchange Commission (“SEC”) outlines, among others, five “significant” areas of focus. … Read More
Nine Preventative Measures to Increase Cybersecurity Protections
On January 24, 2022, Chairperson Gary Gensler said the Securities and Exchange Commission (SEC) might extend regulatory responsibility for cyber-risk management by requiring third-party providers to have adequate safeguards in place to protect investors and ensure key services for them … Read More
Six Questions to Ask to Avoid Complacency and Trending Cybersecurity Dangers
In recent months, the increase of high-profile cyber-attacks have not only undermined investor confidence but have also rattled the industry. The U.S. Securities and Exchange Commission (SEC) has responded with a pledge to review and consider significant changes in cybersecurity … Read More
NASAA’s Top Investor Threats in 2022: Exercise C-A-U-T-I-O-N
Fraudsters like to follow the money when it comes to targeting unsuspecting investors. It is why cryptocurrency and digital asset fraud topped the North American Securities Administrators Association’s (NASAA) annual list of investor concerns released January 10, 2022. Annual inflows … Read More
SEC Sues Investment Advisory Firm for Failure to Disclose Conflicts of Interest in its Wrap Fee Program
If your firm offers a wrap fee program to clients or recommends that clients participate in a wrap program, now is an opportune time to review your fee disclosures and billing practices and best execution protocols. In July 2021, the U.S. … Read More
A Reminder from the SEC Not to Use the Word “May” in Disclosures
A recent filing by the U.S. Securities and Exchange Commission (“SEC”) against a California-based advisory firm should serve as a cautionary tale for compliance officers. It provides keen insight into the SEC’s ongoing effort to seek enforcement action against firms … Read More
Investment Adviser Year-End Compliance Checklist
At the beginning of 2021, the Securities and Exchange Commission (“SEC”) released its exam priorities report for the year.[1] In the release, the SEC stated the following: “The Division will continue to review the compliance programs of RIAs, including whether … Read More
The SEC’s $97 Million Fine of a TIAA Subsidiary Offers Valuable Reminders About Rollover Accounts
Failure to disclose conflicts of interest. Making misleading statements. Creating positive incentives and negative pressures for its sales force. Failure to adopt and implement written policies and procedures.
SEC Ponders the Possibility for More Change in Guidance and Rules Related to Proxy Voting Advice
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has directed the Commission to consider whether it should revisit 2019 guidance and 2020 rule amendments regarding proxy voting advice[1]. In a related move, the SEC has suspended enforcement of rules … Read More