Core Compliance Blog Spotlight

How a Combination of Asset Growth and a Remote Workforce Can Create a Crisis of Supervision

Market gains since the Great Recession have rewarded investment firms with record assets under management. And the challenges posed by the COVID-19 pandemic have changed the way many of us work, perhaps for a long time. Read More
Core Compliance Blog Spotlight

State Regulators Want Advisers to Escalate Their Efforts to Protect Elderly Clients

Protecting senior investors from financial exploitation has long been a primary focus of state regulators who say most state advisers still lack adequate procedures to do so. Read More

The SEC Waves a Cautionary Yellow Flag for Investment Advisers Associated with Wrap Fee Programs

September 15, 2021

The continued growth of investor assets participating in wrap fee programs has prompted regulators to maintain a sharp focus on the programs as part of an ongoing assessment of market-wide risks and matters of importance to retail investors saving for retirement.

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SEC Enforcement Actions Send a Stark Message: The Transition Period for Form CRS Has Ended

September 13, 2021

If firms needed a resounding wake-up call regarding the importance of delivering newly required client relationship summaries (Form CRS) to retail investors in a timely manner, the U.S. Securities and Exchange Commission (SEC) has provided one.

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The SEC’s $97 Million Fine of a TIAA Subsidiary Offers Valuable Reminders About Rollover Accounts

August 19, 2021

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.

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SEC Ponders the Possibility for More Change in Guidance and Rules Related to Proxy Voting Advice

August 19, 2021

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].

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Temperature Rising on the SEC to Address Climate Change Disclosure

July 14, 2021

A growing interest in funds focused on Environmental, Social, and Governance (ESG) assets has prompted the U.S. Securities and Exchange Commission (SEC) to see that investors are better informed regarding ESG-related risks. There just happens to be a difference in opinion among SEC commissioners...

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A COVID Vaccination Isn’t the Only Way to Help Seniors and Provide Immunity for Employees

July 13, 2021

If Willie Sutton were alive today, he might be targeting seniors instead of robbing banks.

Why? Because that’s where the money is.

An ongoing and rapid increase in the size of the nation’s 65-and-over population and the disproportionate wealth among older generations have combined to create a...

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SEC Chair Gensler Foreshadows an Iron-Fisted Approach to Investor Protection at FINRA Annual Conference

June 16, 2021

The 1,700 market participants who heard new U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s remarks at the remote annual meeting of the Financial Industry Regulatory Authority (FINRA) on May 20, 2021, came away with a clear vision for the regulators’ top priority this year.

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Don’t Become Conflicted by a Potential Fiduciary Conflict of Interest

June 11, 2021

When it comes to the preparation and submission of required annual documents to the U.S. Securities and Exchange Commission (SEC), few regulatory filings demand the level of meticulous care that investment advisory firms must use in completing Form ADV. It takes years to build a sterling...

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