Core Compliance Blog Spotlight

Temperature Rising on the SEC to Address Climate Change Disclosure

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 on... Read More
Core Compliance Blog Spotlight

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

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 petri... Read More

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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SEC Accuses Race Car Aficionado of Bilking Investors out of $38 Million to Fund Lavish Lifestyle

May 13, 2021

Recent action brought by the U.S. Securities and Exchange Commission (SEC) against Miami-based hedge fund manager Andrew T. Franzone offers another cautionary tale about the need for investors to perform a high level of due diligence when dealing with private placement memorandums (PPMs) and the...

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Ongoing Areas of Focus for State Securities Regulators

May 06, 2021

In its recently issued annual report on state-registered investment advisers, the North American Securities Administrators Association (NASAA) was straightforward about the steps it believes advisers should be taking to create a culture of compliance in today’s rapidly changing regulatory...

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Don't Run Afoul of the All-or-Nothing Requirement of the SEC's New Marketing Rule

April 15, 2021

Many investment advisers eagerly await the new opportunities created by the SEC's New Marketing Rule. With a mandatory effective date of November 4, 2022, many advisers have begun to take steps to explore how they can change their marketing efforts today. To this end, an overwhelming number of...

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SEC to Focus on Compliance Issues Related to Suspicious Activity Monitoring and Reporting at Broker-Dealers and Mutual Fund Firms

April 12, 2021

On March 29, 2021, the U.S. Securities and Exchange Commission ("SEC") Division of Examinations ("EXAMS") issued a Risk Alert citing frequent shortcomings found in compliance reviews of Anti-Money Laundering (AML) reporting at broker-dealer and mutual fund firms. Find the Risk Alert here.

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Steps Advisers and Investors Can Take to Protect Against Potentially Fraudulent Investments in a Post-Madoff World

March 12, 2021

Almost 12 years have passed since Bernie Madoff was sentenced to 150 years in prison with a restitution of $170 billion for perpetrating an elaborate Ponzi scheme that harmed thousands of clients. Widely regarded as the largest fraudulent investment scandal in U.S. history, the Madoff case...

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Timely Takeaways from Zoom’s Consent Agreement with the FTC over Data Management Practices

March 08, 2021

Firms should take note that information security will remain an area of intense focus this year for the U.S. Securities and Exchange Commission’s (SEC) Division of Examinations (the Division or EXAMS), formerly known as the Office of Compliance Inspections and Examinations (OCIE).

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