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

Proposed Amendments to the Safeguards and Privacy Rules: FTC Seeks Comment

May 20, 2019

The Federal Trade Commission (FTC) has voted to propose alterations to two rules governing the protection of privacy and security of customer information in possession of financial institutions, the Safeguards Rule and the Privacy Rule under the Gramm-Leach-Bliley Act, specifically.

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Flouting Compliance: Ascension Asset Management, LLC and Grenville M. Gooder, Jr.

May 16, 2019

On March 7, 2019 the Securities and Exchange Commission (SEC) filed a cease-and-desist order against Ascension Asset Management and its sole proprietor, Grenville M. Gooder, Jr. for numerous violations related to:

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Non-DVP Custodial Practices and Digital Assets: Your Input Requested

May 15, 2019

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Formation and Sale of “Blank Check” Companies: SEC Brings Fraud Charges

April 23, 2019

In late February charges of fraud by the SEC against broker-dealer Spartan Securities Group, Ltd. and transfer agent Island Capital Management, LLC are the latest in a series of SEC enforcement actions against parties engaged in the formation and trading of “blank check” companies.

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Improper Disclosure: BB&T to Return $5+ Million to Retail Investors and Pay Penalty

April 19, 2019

BB&T Securities, a brokerage subsidiary of BB&T Corp., has settled with the Securities and Exchange Commission (SEC) over charges that a firm it had acquired misled clients and overcharged them for advisory services.

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Non-Public Form N-PORT: Changes to Filing Date

April 17, 2019

Keeping up with the latest changes to filing requirements is a critical element of compliance at any firm.

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The CFTC Division of Market Oversight Compliance Branch Releases Inaugural Examination Priorities

March 14, 2019

On February 12, 2019, the Commodity Futures Trading Commission (CFTC) released its inaugural examination priorities for its Division of Market Oversight (DMO) Compliance Branch, the Division of Swap Dealer & Intermediary Oversight (DSIO), and the Division of Clearing & Risk (DCR).

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UPDATE: 2016 EDGAR Hacking Case - SEC Brings Charges

March 12, 2019

Even powerful entities like the U.S. government’s Securities and Exchange Commission (SEC) and major news agencies are not impervious to cyberattacks, despite the significant resources they dedicate to defending the valuable information they are responsible for.

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Data Leak at the Oklahoma Securities Commission: The Importance of Information Security

March 05, 2019

Almost every organization that is responsible for storing sensitive data, including private-sector corporations, investment firms, and government agencies, understands that effective cybersecurity plays an important role in shielding individuals’ personally identifiable information (“PII”) from...

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Updating Your Cybersecurity Policy: NFA Releases Interpretive Notice 9070

February 19, 2019

Our ever-increasing reliance on electronic devices and information technology to do business, combined with the constantly evolving methods used to electronically attack our firms and our clients, has elevated information security (cybersecurity) into a position of great importance.

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