Core Compliance Blog Spotlight
Core Compliance Blog Spotlight
NFA Permanently Bars Hong Kong Futures Firm
On June 1, 2020 the National Futures Association (“NFA”) permanently barred Hong Kong-based commodity pool operator Bainbridge Asia Limited (“BAL” or the “Firm”) and its sole principal and associated person, Wai Man Yip, from membership and acting as a principal of an NFA member on the basis of a... Read MoreSEC Charges Private Equity Firm with Compliance Failures
June 05, 2020
On May 26, 2020, the Securities and Exchange Commission (“SEC”) announced that Los Angeles-based private equity firm and registered investment adviser, Ares Management LLC (“Ares” or the “Firm”) agreed to a cease-and-desist order, censure, and to pay a $1 million fine to settle charges that it...
Read MoreThe Financial Industry Regulatory Authority (“FINRA”) has upgraded the Web Investment Adviser Registration Depository (“IARD”) and Central Registration Depository (“CRD”) to include multi-factor authentication (“MFA”) in an effort to make the websites more secure:
Read MoreThe Financial Industry Regulatory Authority (“FINRA”) and Prometric Testing Centers have announced additional accommodations and updates for individuals seeking to take exams for the Securities Industry Essentials (“SIE”) and Series 6, 7, 65, 66, and 63 Exams, and fulfillment of continuing...
Read MoreNew Guidance on COVID-19 Relief Relating to PPP Loan Eligibility, Form ADV Brochure Delivery, and more
May 06, 2020
On April 27, 2020, the Securities and Exchange Commission’s Division of Investment Management (the “SEC”) issued updated guidance concerning the following topics in response to COVID-19:
- Disclosure requirements for investment advisers applying for loans through the U.S Small Business...
MSRB Extensions of Deadlines during COVID-19 Pandemic
April 27, 2020
Due to the considerable operational obstacles faced by many entities under their regulatory umbrella due to COVID-19, the Municipal Securities Rulemaking Board (MSRB) has filed a rule change to provide regulatory relief by extending the compliance and testing deadlines for certain MSRB rules and...
Read MoreOn June 5, 2019, the Securities and Exchange Commission (SEC) adopted Form CRS under both the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940, with a compliance deadline of June 30, 2020.
Read MoreAsk chief compliance officers what keeps them up at night and you’ll find the approval of marketing materials, social media communications, and other forms of advertising rank high on the list.
Two factors have combined to cloud best practices for investment advisers who want to advertise, a...
Read MoreSEC Reduces Regulatory Burdens for Advisers of RBICs
April 07, 2020
On March 2, the U.S. Securities and Exchange Commission took two important steps to alleviate red tape for investment advisers who provide capital to and work with Rural Business Investment Companies (RBICs).
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