OCIE Releases Findings After Examining Firms Employing Persons with Disciplinary Histories
OCIE Releases Findings After Examining Firms Employing Persons with Disciplinary Histories WHAT HAPPENED? On July 23, 2019, the Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert [...]
How are Advisers Selected for an OCIE Exam?
How are Advisers Selected for an OCIE Exam? WHAT HAPPENED? In Fiscal Year 2018, the Office of Compliance Inspections and Examinations of the Securities and Exchange Commission examined nearly [...]
SEC Accepts Public Comment on Private Securities Offering Exemptions
SEC Accepts Public Comment on Private Securities Offering Exemptions WHAT HAPPENED? Last month, the Securities and Exchange Commission released a request for public comment on how to improve the [...]
Regulation Best Interest: What You Should Know
Regulation Best Interest: What You Should Know WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission adopted Regulation Best Interest (BI) which is intended to raise the [...]
Investment Adviser Overcharges Clients by $367,000, Charged with Fraud
Investment Adviser Overcharges Clients by $367,000, Charged with Fraud WHAT HAPPENED? On May 28, 2019, the Securities and Exchange Commission charged an investment adviser with overcharging clients by at [...]
Use of “May” in Form ADV Deemed Negligent by D.C. Circuit Court
Use of "May" in Form ADV Deemed Negligent by D.C. Circuit Court WHAT HAPPENED? In April, the D.C. Circuit Court of Appeals in Robare Group, Ltd. v. United States [...]
SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest
SEC Adopts Rules and Interpretations Including Form CRS and Regulation Best Interest WHAT HAPPENED? On June 5, 2019, the Securities and Exchange Commission announced the adoption of a package [...]
OCIE Warns of Cloud-Based Server Security Risks
OCIE Warns of Cloud-Based Server Security Risks WHAT HAPPENED? Last week, the Office of Compliance Inspections and Examinations (OCIE) discovered several security risks related to the storage of customer information by [...]
Form CRS: What You Should Know
Form CRS: What You Should Know WHAT HAPPENED? In April 2018, the SEC released a proposed rule which would require investment advisers to provide a relationship summary to prospective [...]
FINRA Cites Unreasonable Email Review
FINRA Cites "Unreasonable" Email Review - Firm Fined, Censured WHAT HAPPENED? On April 12, 2019, the Financial Industry Regulatory Authority (“FINRA”) issued a settlement with a Salt Lake City-based [...]
FINRA’s 2019 Entitlement User Accounts Certification
FINRA's 2019 Entitlement User Accounts Certification WHAT HAPPENED? The FINRA Entitlement Program requires an annual review and certification of user accounts to ensure that all persons with access to [...]
OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues
OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues WHAT HAPPENED? On April 16, 2019, the Office of Compliance Inspections and Examinations (“OCIE”) published a list of compliance [...]
SEC Officials Comment on Evolving Proxy Voting Process
SEC Officials Comment on Evolving Proxy Voting Process WHAT HAPPENED? In remarks during the ICI Mutual Funds and Investment Management Conference, SEC Commissioner Elad Roisman and Director of the [...]
Reminder: Annual Brochure Delivery Obligation
Reminder: Annual Brochure Delivery Obligation WHAT HAPPENED? Reminder: for Advisers with fiscal year-end Dec. 31, the annual brochure delivery deadline is approaching on April 30. The Adviser Act regulation [...]
IARD and PFRD Systems Inaccessible 3 weekend in April
IARD and PFRD Systems Inaccessible 3 weekends in April WHAT HAPPENED? The SEC announced that the IARD and PFRD systems will be unavailable during three weekends in April, plus [...]
BB&T Subsidiary Must Pay $5.7 Million After Policy Violation
BB&T Subsidiary Must Pay $5.7 Million After Policy Violation WHAT HAPPENED? On March 5, 2019, the U.S. Securities and Exchange Commission ordered BB&T Securities to pay $5.7 million following [...]
