The New Marketing Rule: RETIRING NO-ACTION LETTERS
The New Marketing Rule: RETIRING NO-ACTION LETTERS WHAT HAPPENED? When the SEC adopted the Marketing Rule, it rescinded the Cash Solicitation Rule as of the Marketing Rule’s compliance date and stated that [...]
SEC Focuses on Advisory Fee Calculation: What You Need to Know
SEC Focuses on Advisory Fee Calculation: What You Need to Know WHAT HAPPENED? During recent regulatory exams, the SEC detected several issues with investment advisers’ fee calculations. The SEC wants [...]
Advisers to Private Funds: Going from Exemption Reporting Adviser (ERA) to Fully Registered Adviser
Advisers to Private Funds: Going from Exemption Reporting Adviser (ERA) to Fully Registered Adviser. Fairview partners with firms to get registered and provide on-going compliance support. WHAT IS GOING ON? Many exempt [...]
New Enforcement Date for DOL Rollover Recommendations: Documenting and Meeting the DOL’s Prohibited Transaction Exemption
New Enforcement Date for DOL Rollover Recommendations: Documenting and Meeting the DOL’s Prohibited Transaction Exemption WHAT HAPPENED? The recent Department of Labor Field Assistance Bulletin 2021-02 provides that from December 21, 2021, [...]
Rockin’ the Proxy Boat
Rockin’ the Proxy Boat WHAT HAPPENED? On September 29, 2021, the SEC’s new Chairman, Gary Gensler held an open meeting discussing proposed amendments to Form N-PX. These amendments would enhance [...]
Be Alert as Ransomware Conti-nues to Take Over
Be Alert as Ransomware Conti-nues to Take Over WHAT HAPPENED? The Cybersecurity and Infrastructure Security Agency (CISA) and the FBI have seen Conti ransomware used in more than 400 attacks on U.S. [...]
Family Matters: The Family Office Exemption from SEC Registration Could Change
Family Matters: The Family Office Exemption from SEC Registration Could Change WHAT HAPPENED? Recently, U.S. Congresswoman, Alexandria Ocasio-Cortez introduced The Family Office Regulation Act of 2021 (4620) to amend the Investment Advisers [...]
The SEC Suits Up for Suitable Recommendations
The SEC Suits Up for Suitable Recommendations WHAT HAPPENED? The SEC has recently started cracking down on investment advisers improperly recommending complex financial products. In a recent case, the SEC found [...]
Cybersecurity and ESG Proposals Are on the Horizon: Key Takeaways from SEC Chair’s Senate Testimony
Cybersecurity and ESG Proposals Are on the Horizon: Key Takeaways from SEC Chair’s Senate Testimony WHAT HAPPENED? Before the Senate Banking Committee on September 14th, SEC Chair, Gary Gensler, indicated that [...]
ALERT: Phishing Attack Posing as FINRA Request
ALERT: Phishing Attack Posing as FINRA Request WHAT HAPPENED? Broker-dealers, investment advisers, and investment companies could be affected by a new phishing campaign. This is similar to the FINRA survey phishing campaign [...]
SEC Cybersecurity Sanctions: Your Firm Could Be Next
SEC Cybersecurity Sanctions: Your Firm Could Be Next WHAT HAPPENED? On August 30th, the SEC sanctioned eight firms in three actions for failures in cybersecurity policies and procedures. The investigations revealed: Among [...]
Wrap Fee Program Compliance Risks: The SEC’s Latest Guidance
Wrap Fee Program Compliance Risks: The SEC’s Latest Guidance WHAT HAPPENED? The SEC recently released a Risk Alert outlining common compliance concerns among advisers’ wrap fee programs. This type [...]
The SEC’s Latest Exam and Request List Trends
The SEC’s Latest Exam and Request List Trends WHAT HAPPENED? With new SEC leadership in place, including Chairman Gary Gensler and Director of Enforcement Gurbir Grewal, the Commission’s examination [...]
SEC Cybersecurity Sweep Exams? Here is what you need to know.
SEC Cybersecurity Sweep Exams? Here is what you need to know. WHAT HAPPENED? Recently, there has been an increase in SEC Exam requests related to cybersecurity. Although the SEC [...]
SEC Appoints New Director of Enforcement, Gurbir S. Grewal
SEC Appoints New Director of Enforcement, Gurbir S. Grewal WHAT HAPPENED? On June 29, 2021, the SEC issued a press release announcing the appointment of New Jersey Attorney General, [...]
Inaccurate Performance Information Leads to SEC Charges
Inaccurate Performance Information Leads to SEC Charges WHAT HAPPENED? The SEC recently settled with a registered investment adviser that posted false statements and misleading performance data on its public [...]
