Core Compliance Blog Spotlight

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

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

FINRA and Prometric Provide Updates on Online Testing and Test Center Solutions

May 15, 2020

The 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...

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New 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...
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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...

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Compliance with Form CRS Requirements: OCIE Announces Examination Priorities

April 21, 2020

On 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.

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Want to Advertise to Help Differentiate Your Firm? Read This First

April 14, 2020

Ask 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...

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SEC 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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Two 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...

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How 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...

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Is 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...

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Is 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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