A recent filing by the U.S. Securities and Exchange Commission (“SEC”) against a California-based advisory firm should serve as a cautionary tale for compliance officers. It provides keen insight into the SEC’s ongoing effort to seek enforcement action against firms … Read More
Market gains since the Great Recession have rewarded investment firms with record assets under management. And the challenges posed by the COVID-19 pandemic have changed the way many of us work, perhaps for a long time.
The continued growth of investor assets participating in wrap fee programs has prompted regulators to maintain a sharp focus on the programs as part of an ongoing assessment of market-wide risks and matters of importance to retail investors saving for … Read More
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.
Failure to disclose conflicts of interest. Making misleading statements. Creating positive incentives and negative pressures for its sales force. Failure to adopt and implement written policies and procedures.
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler has directed the Commission to consider whether it should revisit 2019 guidance and 2020 rule amendments regarding proxy voting advice[1]. In a related move, the SEC has suspended enforcement of rules … Read More
A growing interest in funds focused on Environmental, Social, and Governance (ESG) assets has prompted the U.S. Securities and Exchange Commission (SEC) to see that investors are better informed regarding ESG-related risks. There just happens to be a difference in … Read More
The 1,700 market participants who heard new U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s remarks at the remote annual meeting of the Financial Industry Regulatory Authority (FINRA) on May 20, 2021, came away with a clear vision for … Read More
Recent action brought by the U.S. Securities and Exchange Commission (SEC) against a Miami-based hedge fund manager offers another cautionary tale about the need for investors to perform a high level of due diligence when dealing with private placement memorandums … Read More
Many investment advisers eagerly await the new opportunities created by the SEC’s New Marketing Rule. With a mandatory effective date of November 4, 2022, many advisers have begun to take steps to explore how they can change their marketing efforts … Read More