SEC Chair Speaks In DC
Over the past few years, the Securities and Exchange Commission (“SEC”) has made it very clear that bringing enforcement actions for misconduct remains one of its top priorities. In 2014, the SEC reported having charged 80 people in cases involving … Read More
Cybersecurity Examination Sweep Summary
This week the Office of Compliance Inspections and Examinations (“OCIE”) released its latest Risk Alert: Cybersecurity Examination Sweep Summary. A focused examination of over 100 registered broker-dealers and advisers was conducted to “better understand how broker-dealers and advisers address … Read More
National Examination Program’s 2015 Priorities
In the last Core Compliance blog post, we highlighted our 2015 Compliance Predictions, shortly before the Securities and Exchange Commission (“SEC”) released the National Examination Program’s priorities for 2015. The list, which is relatively short compared to previous years’, … Read More
2015 Compliance Predictions
Happy New Year! With 2014 behind us and 2015 charging full steam ahead, the Core Compliance team wants to share a few of our 2015 compliance predictions. Increase Use of Technology Based on 2014’s results, we believe the Securities and … Read More
Soft Dollar Arrangements Once Again Headline SEC Enforcement Efforts
A San Diego-based investment firm and two of the firm’s advisers have been charged with misusing soft dollars and “cherry-picking” more favorable trades to certain clients. Securities and Exchange Commission (“SEC”) Administrative Law Judge Brenda P. Murray ruled that the … Read More
Alternative Mutual Fund Exam Sweep
Last month the director of the Securities and Exchange Commission’s (“SEC’s”) Division of Investment Management, Norm Champ, spoke to the Practicing Law Institute’s Private Equity Forum regarding an upcoming national sweep of alternative mutual funds. It is expected that the … Read More
Highlights of the SEC’s 2014 OCIE National Examination Priorities
To start the new year, the Securities and Exchange Commission’s (“SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) released its 2014 National Examination Program Priorities. The purpose of this announcement, according to OCIE, is to “communicate with investors and registrants … Read More
New NASAA Report Notes Investment Adviser Exam Deficiencies and Provides Suggested Best Practices
On October 7, 2013, the North American Securities Administrators Association (NASAA) released a report summarizing the results of state investment adviser examinations performed by 44 state and provincial securities examiners over the last two years. The report noted the differences … Read More