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Fairview

About Fairview

Founded in 2005 with the goal of developing streamlined back office solutions for investment advisers. Fairview is now servicing investment advisers, foundations and funds with over $132 billion in collective assets.

DOL Releases FAQ on Conflicts of Interest During the Transition Period

DOL Releases FAQ on Conflicts of Interest During the Transition Period WHAT HAPPENED? The Department of Labor has released an FAQ focused on the transition period after the June 9th implementation of the Fiduciary Rule and related prohibited transaction exemptions. The FAQ also provides guidance on specific provisions in the [...]

Legal Risks Associated with Cyberattacks

Legal Risks Associated with Cyberattacks PROACTIVE MEASURES AGAINST CYBERATTACKS The recent ransomware attack that has affected more than 100,000 organizations has emphasized how immense the potential impact can be on the financial services industry. It is imperative for firms to protect their network from these types of threats through various technical [...]

Labor Secretary Acosta Declines to Delay the Fiduciary Rule

Labor Secretary Acosta Declines to Delay the Fiduciary Rule WHAT HAPPENED? Yesterday, Labor Secretary Acosta confirmed that the Department of Labor (“DOL”) was unable to find “a principled legal basis to change the June 9 implementation date” for the Fiduciary Rule. NEXT STEPS Advisers should prepare for partial implementation [...]

SEC Releases Risk Alert on Ransomware

SEC Releases Risk Alert on Ransomware WHAT HAPPENED? On May 17, 2017, the SEC released a risk alert on a widespread ransomware attack, known as WannaCry, WCry or Wanna Decryptor. The hacker(s) conducting the cyber-attack have infiltrated the servers of organizations across more than 100 countries through a Microsoft® Remote Desktop Protocol [...]

SEC Amends Form ADV Part 1A and the Advisers Act

SEC Amends Form ADV Part 1A and the Advisers Act WHAT HAPPENED? The SEC adopted amendments to Part 1A of Form ADV and the Investment Advisers Act of 1940 (the “Advisers Act”) to better monitor various risks in the investment management industry. Collectively, the amendments will: require investment advisers to [...]

SEC Takes Strict Stance on General Solicitations of Certain Regulation D Offerings

SEC Takes Strict Stance on General Solicitations of Certain Regulation D Offerings WHAT HAPPENED? In a review of a FINRA disciplinary action, the SEC affirmed its zero-tolerance policy for general solicitations of specific Regulation D offerings. The disciplinary action addressed an independent broker-dealer and investment adviser that offered interests of an [...]

CFA Institute Issues Guidance Statement on Broadly Distributed Pooled Funds

CFA Institute Issues Guidance Statement on Broadly Distributed Pooled Funds WHAT HAPPENED? The CFA Institute has recently released a guidance statement on broadly distributed pooled funds for firms that manage one or more pooled funds and influence the official pooled fund documents or fund-specific marketing materials. A broadly distributed pooled fund is [...]

CCO Charged with Inadequate Form ADV Disclosures

CCO Charged with Inadequate Form ADV Disclosures WHAT HAPPENED? On March 29, 2017, the SEC charged the dually-acting principal and Chief Compliance Officer of Alison, LLC, with failing to provide specific books and records to the Commission’s examination staff. In addition, the examination concluded that the registered investment adviser’s Form ADV failed [...]

Applicability of the Fiduciary Rule Extended

Applicability of the Fiduciary Rule Extended WHAT HAPPENED? On April 5, 2017, the Department of Labor issued a 60-day delay of the Fiduciary Rule’s applicability date to June 9, 2017. This extension applies to related exemptions as well, including the Best Interest Contract Exemption. The Department of Labor will use this time [...]