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News & Insights: SEC

SEC
12 Jun, 2026
Jeremy McCamic

SEC Risk Alert: Undisclosed Economic Conflicts of Interest

On June 9, 2026, the SEC Division of Examinations published the first Risk Alert of 2026. The Risk Alert is aimed at investment adviser conflicts of interest from compensation, revenue, or other economic benefits.

Here Comes Form SHO

January 2025 is the first month that must be monitored, and if thresholds are crossed then the first Form SHO filing will be due February 14, 2025.

Flash Reports
04 Oct, 2024

SEC to Hold Virtual National Compliance Outreach Seminar for Investment Companies and Investment Advisers

On September 20, 2024, the SEC announced that it will host a virtual seminar for investment companies and investment advisers on Nov. 7, 2024.

Books & Records
24 Sep, 2024

SEC Fines 11 Firms Over $88 Million for Recordkeeping Violations

On September 24, 2024, the SEC announced charges against 12 firms, including broker-dealers, investment advisers, and one dually-registered broker-dealer and investment adviser, for “widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communication in violation of recordkeeping provisions of the federal securities laws,” according to a SEC press release.

SEC Charges Advisory Firm for Failure to Timely Distribute Audited Financial Statements and for the Use of Misleading Hedge Clauses

On September 3, 2024, the SEC announced charges against ClearPath Capital Partners, LLC, for failing to comply with rules governing the safekeeping of client assets and for its use of impermissible liability disclaimers in its advisory and private fund agreements.

SEC Charges BD and Affiliated IAs with Violating Whistleblower Protection Rule

What happened? On September 4, 2024, the SEC announced settled charges against three affiliated registrants, […]

SEC Charges Nine Investment Advisers in Ongoing Marketing Rule Sweep

On September 9, 2024, the SEC announced settled charges against nine registered investment advisers (“RIAs”) for violating the Marketing Rule by disseminating advertisements that included untrue or unsubstantiated statements of material fact or testimonials, endorsements, or third-party ratings that lacked required disclosures. Combined, these nine RIAs agreed to pay $1,240,000 in civil penalties.

Flash Reports
04 Sep, 2024

SEC Charges Investment Adviser for Mishandling of Nonpublic Information

On August 26, the SEC announced that it settled charges against registered investment adviser Sound Point Capital Management LP (“Sound Point”) for “failing to establish, maintain, and enforce written policies and procedures reasonably designed to present the misuse of material nonpublic information (MNPI) concerning its trading of collateralized loan obligations (CLOs)”.

CyberSecurity
29 Aug, 2024

SEC Charges Equiniti Trust for Cyber Failures

On August 20th, 2024, the SEC announced that it settled charges against Equiniti Trust Company LLC (formerly American Stock & Trust Company, LLC) due to failing to ensure client securities and funds were protected from theft. Equiniti Trust Company LLC (“Equiniti”) incurred two cyber incidents from 2022 to 2023 that resulted in the loss of more than $6.6 million of client funds.

SEC Adopts Rule to Adjust Qualifying Venture Capital Fund Threshold for Inflation

On August 21, 2024, the SEC adopted a rule that updates the threshold for a fund to qualify as a “qualifying venture capital fund” under the Investment Company Act.

Latest SEC Fine for Hypothetical Performance Ad

The SEC fined Pacific Financial Group $430,000 for advertising that presented hypothetical performance. In an order issued on August 9, 2024, the SEC pointed out that Pacific Financial Group advertised hypothetical performance on its public website without implementing policies and procedures reasonably designed to ensure that the hypothetical performance was relevant to the likely financial situation and investment objectives of the intended audience.