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Goldman Sachs Fined $4M for Policy Failures of ESG Investments

Goldman Sachs Fined $4M for Policy Failures of ESG Investments What happened? On November 22, 2022, the U.S. Securities and Exchange Commission SEC charged Goldman Sachs Asset Management, LP (Goldman Sachs) with maintaining inadequate and inaccurate policies governing its ESG investment strategies. According to the SEC, Goldman Sachs will [...]

By | 2022-12-01T10:51:14-05:00 Dec 1st, 2022|News|

The SEC’s New Proxy Rule: What You Need to Know

The SEC's New Proxy Rule: What You Need to Know What happened? On November 2, 2022, the Securities and Exchange Commission (SEC) adopted rule and form amendments that will (1) require registered investment companies to disclose more detail on their proxy votes and (2) require institutional investment managers will [...]

By | 2022-11-10T09:17:06-05:00 Nov 10th, 2022|News|

SEC New Marketing Rule Compliance Date Reminder

SEC New Marketing Rule Compliance Date Reminder What happened? Reminder: As of Today, investment advisers can no longer choose to comply with previous advertising and cash solicitation rules following the Nov. 4, 2022, compliance deadline for the new Marketing Rule, rule 206(4)-1, under the Advisers Act. The Marketing Rule [...]

By | 2022-11-04T14:02:08-04:00 Nov 4th, 2022|News|

2023 IARD Annual Renewal Message

2023 IARD Annual Renewal Message What's coming up soon? Every year at this time, Renewal Statements for advisers are posted in the IARD Portal. These fees are collected for system processing and jurisdiction-related renewals. For the calendar year 2023, all renewal fees, related to SEC registration, state notice-filings, or [...]

By | 2022-11-03T13:15:49-04:00 Nov 3rd, 2022|News|

CISA Issues Guidance on Numbers Matching and Phishing-Resistant Multifactor Authentication

CISA Issues Guidance on Numbers Matching and Phishing-Resistant Multifactor Authentication What happened? The Cybersecurity and Infrastructure Security Agency (“CISA”) published two fact sheets on October 31, 2022, outlining the dangers to accounts and systems when applying specific types of multifactor authentication (MFA). CISA recommends that firms use phishing-resistant MFA [...]

By | 2022-11-02T11:41:25-04:00 Nov 2nd, 2022|News|

SEC Proposes New Rule on Outsourcing by Investment Advisers

SEC Proposes New Rule on Outsourcing by Investment Advisers What happened? On Wednesday, Oct. 26, 2022, the Securities and Exchange Commission (SEC) proposed a new rule and amendments regarding the due diligence of service providers. The proposal contains specific due diligence requirements that RIAs must fulfill when using third-party [...]

By | 2022-10-28T11:55:06-04:00 Oct 28th, 2022|News|

Typosquat Campaign Mimics 27 Brands to Push Windows, Android Malware

Typosquat Campaign Mimics 27 Brands to Push Windows, Android Malware What happened? A massive typosquat campaign has come to light with over 200 typosquatting domains impersonating 27 brands to push Windows and Android malware. Typosquatting is a method hackers use to impersonate well-known sites by creating fake websites using [...]

By | 2022-10-28T10:24:00-04:00 Oct 28th, 2022|News|

Electronic Communications Recordkeeping: SEC Examination Requests

Electronic Communications Recordkeeping: SEC Examination Requests What happened? After landmark penalties against 16 Wall Street Firms, the message is clear: firms are expected to abide by the U.S. Securities and Exchange Commission’s (SEC) recordkeeping rules, especially around communication. Advisers’ use of electronic communications tools, such as text messaging, email, [...]

By | 2022-10-13T12:36:22-04:00 Oct 13th, 2022|News|