Core Compliance Blog Spotlight

Preparing for the U.S. Department of Labor’s Proposed Clarification on ERISA Proxy Voting

On August 31, 2020, the U.S. Department of Labor (DOL) released a proposal under the Employee Retirement Income Security Act of 1974 (ERISA) to amend fiduciary duties regarding proxy voting and shareholder rights. Read More
Core Compliance Blog Spotlight

What CCOs and Compliance Departments Need to Know About the SEC’s New Definition of ‘Accredited Investor’

Not long ago, the ability to invest in private offerings in the U.S. was limited to those whose annualized income and net worth afforded a country-club lifestyle. The requirements were an average income of $200,000 for the last two years ($300,000 for joint income) and/or a net worth of $1 million,... Read More

Your Annual Review: Cybersecurity and Privacy

September 09, 2020

The annual review is one of the three (3) pillars of Rule 206(4)-7 (“the Compliance Rule”) of the Investment Advisers Act of 1940 (“the Advisers Act”).

Read More

Interactive Brokers, LLC to Pay Penalties for Failure to File Suspicious Activity Reports

August 19, 2020

On August 10, 2020, the Securities and Exchange Commission (“SEC”) announced that Interactive Brokers, LLC (“IB” or the “Firm”) had agreed to pay $11.5 million in fines for failure to file Suspicious Activity Reports (“SARs”) in conjunction with trading micro-cap securities on behalf of its...

Read More

SEC Charges Birinyi Associates, Inc. with Unfair Trade Practices and Compliance Failures

August 19, 2020

On July 31, 2020, the Securities and Exchange Commission (“SEC”) announced it was charging Connecticut-based investment adviser, Birinyi Associates, Inc. (“BA” or the “Firm”), with violations of Sections 206(2) and 206(4) and Rule 206(4)-7 thereunder (“the Compliance Rule”) of the Investment...

Read More

SEC Charges Valic Financial Advisors in Two Separate Actions with Disclosure Failures and Mutual Fund Selection Violations

August 07, 2020

On July 28, 2020, the Securities and Exchange Commission (“SEC”) announced it was charging Houston-based financial services firm, Valic Financial Advisors, Inc. (“VFA” or the “Firm”), a dually-registered broker-dealer and investment adviser, in two separate actions for violations of Section...

Read More

SEC Releases Risk Alert on Cybersecurity and Ransomware Attacks

July 24, 2020

On July 10, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) released a risk alert highlighting a recent increase in ransomware attacks against financial industry participants.

Read More

NASAA Released Proposed Model Compliance Rule

July 16, 2020

On July 2, 2020, the North American Securities Administrators Association (“NASAA”) released a notice for public comment on its proposed model rule for investment adviser written policies and procedures (“the Model Rule”) under the Uniform Securities Acts of 1956 and 2002 (“the Acts”).

Read More

DOL Proposes New Class Exemption Rule

July 09, 2020

On June 29, 2020, the U.S. Department of Labor (DOL) proposed its new class exemption rule  (the “Rule”) designed to replace the 2016 Best Interest Rule that was vacated by the U.S. Court of Appeals for the Fifth Circuit (“the Fifth Circuit”) in 2018.

Read More

Top 3 Considerations for Conducting an Annual Review

June 16, 2020

Under Rule 206(4)-7 (“Compliance Rule”) of the Investment Advisers Act of 1940 (“Advisers Act”), Investment Advisers (“RIAs”) that are registered with the Securities and Exchange Commission (“SEC”) must perform an annual review of the RIA’s policies and procedures (“P&Ps) to “test their adequacy...

Read More
1 2 3 4 5 ... 36 >