Core Compliance Blog Spotlight
Core Compliance Blog Spotlight
SEC Enforcement Actions Send a Stark Message: The Transition Period for Form CRS Has Ended
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. 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).
Read MoreTwo Important Concerns to Address Within Your Business Continuity Plan (BCP) for an SEC Examination
March 25, 2020
On March 23, 2020, the U.S. Securities and Exchange Commission (“SEC”) modified its announcement “OCIE Statement on Operations and Exams – Health, Safety, Investor Protection and Continued Operations are our Priorities.” Within the announcement the SEC determined that the Office of Compliance...
Read MoreHow Strong Is Your Cybersecurity Program?
March 17, 2020
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) staff has compiled observations from its thousands of examinations to broker-dealers, investment advisers, clearing agencies, national securities exchange and other SEC registrants and shared some...
Read MoreIs Your Firm's Whistleblower Program Effective?
March 10, 2020
The Securities and Exchange Commission (“SEC”) recently awarded two whistleblowers with monetary awards for providing significant information that helped the SEC stop fraudulent schemes. The first individual earned an award of $277,000 for bringing forward information that unveiled a scheme that...
Read MoreIs Your Firm Prepared for a Pandemic?
March 03, 2020
UPDATE (03.12.2020): Since the publishing of this blog post the Coronavirus (COVID-19) has infected more than 130,267 confirmed unique cases and has killed over 4,700 of those affected across 125 countries.
The recent outbreak of the Coronavirus (COVID-19) has spread to more than 85,000 unique...
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