Last year, the SEC adopted a new rule under the Securities Exchange Act of 1934 (“Exchange Act”) that requires institutional investment managers that meet or exceed certain reporting thresholds to…
In February, the SEC announced a proposal to significantly revise Rule 206(4)-2 (the “Custody Rule”) to help provide additional protections to client assets. Specifically, under the proposal, the Custody Rule…
The SEC announced earlier this week that it is proposing to amend rules and forms to require registered investment advisers, certain advisers exempt from registration, registered investment companies and business…
The SEC issued a risk alert yesterday that provided detail on certain compliance issues observed during recent Advisory Fees Initiative examinations, including additional details regarding the observations of the staff…
The SEC issued a risk alert yesterday relating to a series of examinations OCIE (Office of Compliance Inspections and Examinations) conducted that focused on investment advisors that operated from numerous branch offices and that had operations geographically dispersed from the advisor’s principal office.
The SEC’s Office of Compliance Inspections and Examinations (OCIE) announced today its 2020 National Exam Program Examination Priorities.
On December 14, 2018, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a risk alert to remind investment advisors of their obligations with respect to electronic communications and social media and to help advisors improve their systems, policies, and procedures.
On October 31, 2018, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a risk alert providing investment advisors with information regarding the most common deficiencies SEC staff have cited relating to Rule 206(4)-3 (the “Cash Solicitation Rule”) under the Investment Advisers Act of 1940.
The SEC recently issued a no-action letter (Investment Adviser Association, February 21, 2017) that provides clarification regarding whether an investment advisor acting on a standing letter of authorization ("SLOA") has custody under the Advisers Act.