SEC Charges Adviser for Misrepresenting Hypothetical Performance

On August 21, 2023, the SEC charged Titan Global Capital Management USA LLC (“Titan”), a FinTech investment adviser, with violations of the new Marketing Rule, among other violations.

SEC Fines 11 More Wall Street Firms For Off-Channel Communication Failures

Ten broker-dealers and one dual registrant were charged for off-channel communication failures. The firms will pay $289 mil penalties and were served a cease-and-desist order.

SEC Proposes New Requirements to Mitigate Conflicts of Interest Associated With the Use of Predictive Data Analytics by Broker-Dealers and Investment Advisers

The SEC states a “covered technology” includes a broker-dealer or investment advisers’ “use of analytical, technological, or computational functions algorithms, models, correlation matrices, or similar methods or processes that optimize for, predict, guide, forecast, or direct investment-related behaviors or outcomes of an investor”.

SEC Adopts Cyber Risk Management Rule for Public Companies

On July 26th, 2023, the SEC adopted rules requiring public companies “to disclose material cybersecurity incidents they experience and to disclose on an annual basis material information regarding their cybersecurity risk management, strategy, and governance”.

NSCP Currents: Home Wi-Fi Security Best Practices

In today’s hybrid work environment, firms are increasingly reliant on home networks that employees use to work remotely. Securing home Wi-Fi networks has become critical to safeguarding firm and client information.

SEC Adopts Reforms for Money Market Funds and Amendments to Form PF Reporting by Large Liquidity Fund Advisers

On July 12, 2023, the SEC adopted amendments to Investment Company Act rules regarding money market funds and large private liquidity fund advisers. The amendments will be effective 60 days after publication in the Federal Register.

SEC Examination Requests Regarding New Marketing Rule Compliance

The SEC has begun requesting more information in exams to assess compliance with the new Marketing Rule.

The SEC’s Proposed and Final Rules and Key Dates

the SEC’s proposed compliance- and cyber-related rules, including associated dates and links to the full rules.

Fairview Cyber Comment Letter

SEC Fall Agenda and the Cyber Risk Management Rule

In October 2023, the SEC will finalize its Cyber Risk Management rule according to its fall agenda. The final regulation was initially expected to be released in April 2023, but that date was delayed due to the comment period reopening.