Registration, Disclosure and Filing Requirements

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SEC Issues Additional Relief and Guidance as COVID-19 Creates Obstacles

SEC Issues Additional Relief and Guidance as COVID-19 Creates Obstacles WHAT HAPPENED? In response to the unusual state of global securities infrastructures stemming from COVID-19, the SEC is continuing to provide regulatory relief to struggling entities. This week, the SEC expanded on a recently released relief package to extend [...]

COVID-19 UPDATE: A Breakdown of the SEC’s Regulatory Relief Provisions for Filings and Documentation

A Breakdown of the SEC’s Regulatory Relief Provisions for Filings and Documentation ***UPDATE*** On March 23 and 25, 2020, the SEC released further extended dates for the items listed below.  WHAT HAPPENED? While the international COVID-19 outbreak continues to affect the lives of the [...]

Form CRS: The Latest Tips for Preparing – UPDATE!

Form CRS: The Latest Tips for Preparing – UPDATE! WHAT HAPPENED? On Feb. 11, 2020, the Securities and Exchange Commission released a set of new Frequently Asked Questions about Form CRS. Among other useful information, the FAQs address that adviser affiliates of a registered adviser may jointly file a [...]

Exam Takeaways: SEC and DOL Joint Exams

Exam Takeaways: SEC and DOL Joint Exams WHAT HAPPENED? Regulatory requirements and expectations for firms are constantly evolving; with that, examination practices are changing as well. An emerging approach to routine examinations includes exam teams from both the Securities and Exchange Commission and the Department of Labor collaborating on [...]

OCIE Releases 2020 Examination Priorities

OCIE Releases 2020 Examination Priorities WHAT HAPPENED? On Jan. 7, 2020, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission (OCIE) released its 2020 Examination Priorities. The list is published annually to provide clear guidance to professionals and to highlight pertinent risks to investors. Several [...]

By the Numbers: SEC Division of Enforcement Publishes FY2019 Report

By the Numbers: SEC Division of Enforcement Publishes FY2019 Report WHAT HAPPENED? Recently, the Division of Enforcement of the Securities and Exchange Commission released their annual report which includes detailed information about the Commission’s enforcement efforts for fiscal year 2019. In line with OCIE’s 2019 Examination Priorities, the Commission [...]

OCIE Releases List of Common Investment Company, Money Market Fund, and Target Date Fund Compliance Issues

OCIE Releases List of Common Investment Company, Money Market Fund, and Target Date Fund Compliance Issues WHAT HAPPENED? On Nov. 7, 2019, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission released a Risk Alert outlining common compliance observations among investment companies, money market funds, [...]

SEC Proposes Changes to Advertising and Solicitation Rules

SEC Proposes Changes to Advertising and Solicitation Rules WHAT HAPPENED? On Nov. 4, 2019, the Securities and Exchange Commission released proposed amendments intended to modernize the advertising and solicitation rules under the Investment Advisers Act. After several decades of unchanged rulemakings, the Commission is in the process of amending [...]

Pair of Advisers Fined for Failing to Disclose Interest in Publicly Traded Company

Pair of Advisers Fined for Failing to Disclose Interest in Publicly Traded Company  WHAT HAPPENED? On Sept. 24, 2019, the Securities and Exchange Commission released information that a registered investment adviser, Strategic Planning Group, and its principals, David Rourke and Jarrod Sherman, were charged for failing to disclose conflicts of interest to [...]

Company Charged with Violating Regulation ATS After Releasing Confidential Information

Company Charged with Violating Regulation ATS After Releasing Confidential Information WHAT HAPPENED? On Sept. 24, 2019, the Securities and Exchange Commission released information that TMC Bonds LLC, operator of an alternative trading system (ATS), will pay $2.1 million after being charged for failing to protect confidential information in violation [...]