The SEC sanctioned a registered investment adviser for violating antifraud provisions of the Advisers Act. The violations stemmed from the adviser overcharging limited partners of a private equity fund it managed.
In recent years, the SEC has heightened its emphasis on cybersecurity requirements for firms. Routine examinations now often involve in-depth requests for information on firms’ cyber and data security practices, which are areas of evolving risk for all market participants.
The OCIE issued a Risk Alert that outlines new compliance risks stemming from the global pandemic. The SEC and OCIE have remained operational and have continued to initiate examinations, including routine examinations of investment advisers.