Advisory firm policies should ensure firm’s compliance program is able to efficiently identify and address any potential risks.
The new ADV reporting requirements go into effect October 1, 2017. Advisers should review their recordkeeping procedures and the information they will need to report in Part 1A of their Form ADV.
The SEC charged a registered real estate private equity firm with executing a transaction between two funds (“Fund I” and “Fund II”) it advised on different terms than what was disclosed to the Fund I investor advisory committee (“Fund I IAC”).
The Department of Labor has released an FAQ focused on the transition period after the June 9th implementation of the Fiduciary Rule and related prohibited transaction exemptions.
Labor Secretary Acosta confirmed that the Department of Labor (“DOL”) was unable to find “a principled legal basis to change the June 9 implementation date” for the Fiduciary Rule.
The SEC adopted amendments to Part 1A of Form ADV and the Investment Advisers Act of 1940 to better monitor various risks in the investment management industry.
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.
