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SEC Seeks Public Comment on Standards of Conduct for Investment Advisers and Broker-Dealers

In a recent public statement, Securities and Exchange Commission (“SEC”) Chairman Jay Clayton announced that the SEC is moving forward with its review of the standards of conduct mandates for investment advisers and broker-dealers and he welcomes the Department of Labor (“DOL”) Secretary Acosta’s...

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Latest investment adviser

High Profiled Risks Associated With Investment Advisory Firms

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has been issuing written Risk Alerts since 2011 that outline areas the SEC believes carry high risks for broker-dealers and investment advisers.  The areas covered in these alerts have included:

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DOL Issues Bulletin in Wake of Proposed Rule Delay

March 23, 2017

Following the proposed rule to delay the Department of Labor’s Conflicts of Interest Rule (the “DOL Rule), John Canary, the DOL’s Director of Regulations and Interpretations, issued a Field Assistance Bulletin announcing a temporary enforcement policy. This memorandum, which was sent to the...

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SEC Amends Rules Under Investment Advisers Act

September 09, 2016

At the end of August, the Securities and Exchange Commission (“SEC”) issued a release amending a number of rules under the Investment Advisers Act of 1940 (“Advisers Act”), as well as Form ADV, which is the registration and reporting form for investment advisers.  The SEC outlined in their release...

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What to Expect When the SEC Proposes Requirements for Advisers to Obtain Third Party Compliance Reviews

August 04, 2016

Since 2014, the Securities and Exchange Commission (“SEC”) has been talking about proposing requirements for SEC registered investment advisers to obtain third party compliance reviews.  The more recent being in Chairman Mary Jo White’s testimony given to the U.S. Senate Subcommittee on Financial...

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SEC Says Investment Advisers Need to Think About Transition Planning

July 20, 2016

The Securities and Exchange Commission (“SEC”) recently issued proposed Rule 206(4)-4 under the Investment Advisers Act of 1940, as amended (“Advisers Act”), requiring registered investment advisers to have written plans addressing business continuity and transition (wind down) steps in the event...

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SEC Alerts Registered Advisers About Share Class Exam Initiative

July 18, 2016

On July 13, 2016, the Securities and Exchange Commission (“SEC”), through their Office of Compliance Inspections and Examinations (“OCIE”), issued a Risk Alert outlining their exam initiative on risks and conflicts pertaining to investment adviser recommendations of mutual funds and 529 Plans. ...

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SEC Chair White to Recommend Required Third-Party Compliance Reviews

November 19, 2015

 

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Adviser Sanctioned by SEC for Sub-Adviser False Performance

November 17, 2015

 

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SEC Fines Firm for Failure to Adopt Cybersecurity Policies and Procedures

September 23, 2015

 

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