News & Insights: Enforcement

Division of Enforcement Releases Annual Report

On November 15, 2017, the SEC’s Division of Enforcement released its annual report for Fiscal Year 2017 (“FY 2017”).

SEC Charges Unregistered Fund Manager

Unregistered investment adviser and its principals charged with engaging a fund in conflicted transactions without providing disclosure to the investors.

SEC Grants Relief to Broker-Dealers and Investment Advisers

The SEC released three no-action letters that will provide 30 months of relief under the Investment Advisers Act of 1940 for US broker-dealers under the second Markets in Financial Instruments Directive (“MiFID II”).

RIA Examinations Expected to Rise by 25% Over Next 2 Years

Congress, SEC Chairman Clayton stated that the SEC is on track to increase the number of registered investment adviser (“RIA”) examinations by 20 percent in the fiscal year 2017 and by an additional 5 percent in the fiscal year 2018.

PE Firm Charged with Improper Allocation of Broken Deal Expenses

The SEC charged a registered investment adviser with improperly allocating broken deal expenses between three private equity funds it manages.

SEC Charges SunTrust With Improperly Recommending Costlier Mutual Funds

The SEC charged SunTrust Investment Services with receiving more than $1.1 million in client fees by improperly recommending costlier share classes of mutual funds when cheaper shares were available.

PE Firm Charged for Improperly Allocating Overhead and Portfolio Expenses to Funds

The SEC charged a registered investment adviser (“the RIA”) and its principal (collectively, “Respondents”) with improperly allocating fees and expenses to two private equity funds (collectively, “the Funds”) managed by Respondents. 

SEC Charges Investment Adviser with Defrauding Clients and Prospective Clients

The SEC charged an investment adviser and its principal with misleading clients and prospective clients about the performance track record of an investment strategy they offered.

Action Advisers Should Take Prior to January 30, 2018, to Comply with the Custody Rule

the SEC published a ‘no-action’ letter in February 2017, stating that custody requirements can be triggered under certain circumstances when an adviser participates in first-party and third-party asset movement.

SEC Charges Hedge Fund Adviser with Failure to Prevent Insider Trading

Advisory firm policies should ensure firm’s compliance program is able to efficiently identify and address any potential risks.

Click below to view General Filing Deadlines and SEC Holidays

Regulatory Calendar

Stay up to date on the latest industry news and resources.

Filter by Category

Filter by Topic

Fairview

Fairview has been providing streamlined solutions to providers in the financial services industry since 2005. We are part of ViewPoint Partners, our employee-owned parent company for both Fairview and FilePoint, which provides regulatory reporting solutions for registered investment companies.

©2024 Fairview® Investment Services, LLC. All rights reserved.

1330 St. Mary’s St.
Suite 400
Raleigh, NC 27605

info@fairviewinvest.com
919.706.4100
FAX: 800.770.9925