Criminal activity is constantly evolving. Fraud emanating from a compromised email account is fairly well known and most firms have implemented authentication procedures to address fraudulent third-party wire transfers. However, another threat has recently gained traction in the financial industry, … Read More
The objective of the compliance program is to prevent, detect and correct violations of securities laws. To this end, investment advisers registered under Section 203 of the Investment Advisers Act of 1940 (the “Advisers Act”) are required to have a … Read More
On November 14, 2016, Mary Jo White, SEC Chair, announced her plans to step down at the end of the Obama Administration. During her tenure, the SEC brought more than 2,850 enforcement actions and obtained judgements and orders that tallied … Read More
Thank you for attending our 5th Annual Compliance Symposium in Anaheim, CA. We hope you enjoyed meeting the team and were able to gain valuable insight into the changes impacting our industry today. In keeping with cybersecurity best practices, we … Read More
On October 27, 2016, the DOL issued highly anticipated guidance on the Conflicts of Interest Rule in the form of FAQs that address the exemptions. The Director of the Employee Benefits Security Administration (“EBSA”), Phyllis Borzi, indicated this is the … Read More
On August 10, 2016, the SEC filed a complaint in federal court against Merrill Robertson Jr., a former Philadelphia Eagles football player, with defrauding investors. Mr. Robertson, along with Sherman C. Vaughn, Jr., and the company they co-owned, Cavalier Union … Read More
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 … Read More
CEO, Michelle Jacko and consultant Tina Mitchell will be presenting: Chapter on Due Diligence.
On May 11, 2016, the Financial Crimes Enforcement Network (“FinCEN”) issued a final rule on customer due diligence (the “CDD Rule”). This rule addresses new and existing due diligence requirements for Covered Financial Institutions (as defined in the rule), which … Read More
On June 28, 2016, the Securities and Exchange Commission (“SEC”) issued a proposal requiring SEC registered investment advisers to implement a written business continuity and transition plan (“BCTP”).1 In the corresponding press release,2 the SEC stated that the purpose of the … Read More