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.
The SEC adopted amendments to Regulation S-P requiring broker-dealers, investment companies, registered investment advisors, and transfer agents to implement and maintain policies and procedures regarding an incident response program that are designed to detect, respond, and recover from unwarranted access or use of client information.
Read MoreOn Feb. 11, 2020, the SEC released a new Frequently Asked Questions about Form CRS. Among other helpful information, the FAQs address that adviser affiliates of a registered adviser may jointly file a four-page Form rather than a two-page disclosure.
Regulatory requirements and expectations for firms are constantly evolving; with that, examination practices are changing as well. An emerging approach to routine examinations includes exam teams from both the Securities and Exchange Commission and the Department of Labor collaborating on the examination.
The SEC proposed changes to the definition of an “accredited investor.” Until this point, the accredited investor definition has been limited to evaluating only an individual’s income or net worth. With the proposed changes, the Commission hopes to increase access to investments in private capital markets.
On Dec. 10, 2019, the Securities and Exchange Commission released information that an adviser, Kornitzer Capital Management, Inc. (KCM), and its principal, John Kornitzer, were charged with breaching their fiduciary duty to clients and failing to implement proper policies and procedures.
the Division of Enforcement of the SEC released their annual report including detailed information about the Commission’s enforcement efforts for fiscal year 2019. The Commission is focused on protecting retail investors, who are often particularly vulnerable to misconduct in the securities market.