Flash Reports | Fairview Investments

News & Insights: Flash Reports

More than just the facts, Flash Reports provide context for what’s currently happening in the industry and translate that into what it means for your business.

SEC Revises Marketing FAQ to Address Private Fund Net Performance

On January 11, 2023, the SEC updated its Frequently Asked Questions page for the New Marketing Rule. There are now three questions and three answers.

Flash Reports
30 May, 2023

Cybersecurity Requests in SEC Exams

A current cyber sweep exam is underway by the Division of Examinations. The request list includes multiple items that align with proponents of the proposed cybersecurity rule

Flash Reports
23 May, 2023

Data Breach Hits BNY Mellon Wealth Business

This month, BNY Mellon’s N.A. division notified clients that one of its vendors’ systems was infiltrated, resulting in exposure of client data, including Social Security numbers, Ignites reported.

DOL Voluntarily Dismisses Appeal to Defend DOL PTE Fiduciary Guidance

The Department of Labor (DOL) voluntarily dismissed its appeal of the district court decision that struck down the DOL’s fiduciary reinterpretation of fiduciary status for advisers making rollover recommendations to retirement investors.

Flash Reports
15 May, 2023

SEC Risk Alert on Observations of LIBOR-Transition Preparedness

On May 11, 2023, the SEC’s Division of Exams (“EXAMS”) published a Risk Alert to remind registrants of the discontinuation of U.S. Dollar LIBOR after June 30, 2023. The Risk Alert also discussed firms’ practices to manage the transition.

Flash Reports
11 May, 2023

The SEC’s First Enforcement of Liquidity Rule Violations

On May 5, 2023, the SEC announced its first-ever enforcement of the Liquidity Rule by charging Pinnacle Advisors LLC, an investment adviser, with “aiding and abetting Liquidity Rule violations” regarding one of its mutual funds.

Certain Form PF Filers Will Have New Questions, More Reporting :: Impacts Advisers to Private Equity Funds and Large Hedge Funds

On May 3, 2023, the U.S. Securities and Exchange Commission (SEC) announced the adoption of amendments to the Form PF. This rule will impact all Form PF Large filers and all Form PF filers who manage private equity (PE) funds.

Flash Reports
27 Apr, 2023

SEC Risk Alert On Safeguarding Customer Information at Branch Offices

On April 26, 2023, the SEC’s Division of Examinations (EXAMS) published a Risk Alert regarding the security of customer information at branch offices maintained by broker dealers and investment advisers.

Flash Reports
05 Apr, 2023

Reminder: Annual Form PF filing Due April 30, 2023

Although the Investment Adviser Registration Depository IARD/PFRD is scheduled to be available Sunday, April 30, 2023, we recommend completing the filing by April 28th.

Flash Reports
30 Mar, 2023

SEC Risk Alert for Newly-Registered Advisers

On March 27, 2023, the SEC’s Division of Exams (“EXAMS”) published a risk alert on observations from examinations of newly-registered advisers.

Flash Reports
16 Mar, 2023
Amber Allen

SEC Reopens Public Comment on The Cybersecurity and Risk Management Rule and Proposes Changes to Reg S-P to Enhance Protection of Customer Information

On Wednesday, March 15, the SEC held an opening meeting and announced three proposed rules touching on cybersecurity and also reopened its proposed Cybersecurity Risk Management Rule for more public commentary