At the beginning of every year, the Securities and Exchange Commission’s (“SEC’s”) Office of Compliance Inspections and Examinations (“OCIE”) identifies its examination priorities for the coming year. These priorities, which are based on perceived heightened risks to investors and the … Read More
In February 2017, the Securities and Exchange Commission (“SEC”) published a Risk Alert highlighting the top five most common compliance topics identified in deficiency letters issued to SEC registered investment advisers (“RIA”).
Core Compliance will be presenting on “The Evolution of Cybersecurity” at the Schwab Advisory Board Conference in Denver, CO, on Tuesday, February 28th.
In June 2010, the SEC adopted Rule 206(4)-5 of the Investment Advisers Act of 1940, which addressed “pay-to-play” practices surrounding political contributions. Pay to play is a term used in the financial industry that generally refers to investment advisers making … Read More
Examination Priorities Each year the SEC Office of Compliance Inspections and Examinations publishes their SEC examination priorities letter to inform the industry of their current focus areas. The 2017 letter was released on January 12, 2017, and is available on … Read More
According to Robert W. Cook, since becoming the president and CEO of FINRA in August 2017, he has “been engaged in an ongoing ‘listening tour’ meeting with member firms, regulators and investor groups, among others.” In the cover letter he … Read More
The end of 2016 is fast approaching and the financial services industry has been hit this year with some very important and complicated new regulations, such as the Department of Labor’s Conflicts of Interest Rule (“DOL Rule”) and the Securities … Read More
Recently, the London-based public accounting firm Ernst & Young, along with a senior partner and an auditor agreed to pay approximately $9.3 million in settlement charges after SEC investigations determined that there had been violations of auditor independence rules. According … Read More
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 … Read More
In a keynote address given to the Investment Company Institute during their 2016 General Meeting, the Securities & Exchange Commission (“SEC”) Chair Mary Jo White provided not only an overview of current areas of interest and proposals affecting mutual funds, … Read More