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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 [...]

By | 2017-08-01T15:09:56+00:00 April 19th, 2017|CFA Institute, Fairview Flash Reports|

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 [...]

By | 2017-08-01T15:10:22+00:00 April 6th, 2017|Fairview Flash Reports, United States Department Of Labor|