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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.

SEC Off-Channel Enforcements: Twenty-Six Firms to Pay More Than $390 Million in Settlements

On August 14, 2024, the SEC announced charges against 26 broker-dealers, investment advisers, and dually-registered broker-dealers and investment advisers for widespread and longstanding failures by the firms and their personnel to maintain and preserve electronic communications.

The “Pay to Play” Rule: Your Compliance Program in an Election Year

The SEC did not appeal the landmark decision of the Fifth Circuit that vacated the Private Fund Rules. The SEC could still appeal to the Supreme Court, though success there is looking less and less likely for the commission. Assuming the rules are gone for good, the private fund industry just avoided the time and expense of creating new compliance procedures.

Flash Reports
23 Jul, 2024

T+1 SEC Examination Sweep

SEC registered advisers are beginning to see examination requests targeting recordkeeping, policies and procedures, training, and third-party agreements related to the shortened settlement cycle that came into effect on May 28, 2024.

Flash Reports
09 Jul, 2024

The SEC’s Updated Spring 2024 Regulatory Agenda

On July 8, the SEC issued an updated Spring 2024 regulatory agenda, which includes updated timing related to several key regulatory actions. This signals another busy few months for the SEC.

Flash Reports
01 Jul, 2024

SEC Applies Broad Scope of Regulation in Cybersecurity-Related Charges Against R.R. Donnelley & Sons

On June 18th, 2024, the SEC announced that R.R. Donnelley & Sons (RRD) agreed to pay over $2.1 million to settle disclosure and internal control failure charges relating to cybersecurity incidents and alerts in late 2021.

Joint SEC and FinCEN Proposed Customer Identification Program Rule

On May 13th, FinCEN and the SEC jointly released a proposed rule to apply CIP obligations on RIAs and ERAs. This new proposal comes on the heels of FinCEN’s February 13th proposal of an AML rule to designate RIAs and ERAs as “financial institutions” under the Bank Secrecy Act and apply AML/CFT program, suspicious activity reporting and record keeping requirements.

Flash Reports
15 Apr, 2024

Five Investment Advisers Charged by the SEC for Marketing Rule Violations

On April 12, 2024, the Securities and Exchange Commission (SEC) announced that it settled charges against five registered investment advisers for Marketing Rule violations.

Off-Channel Communications and Recordkeeping Among RIAs Remains a Top Priority for SEC

The Securities and Exchange Commission (SEC) has fined several companies in recent months for off-channel communications and record-keeping. At the recent SEC Speaks conference, Sanjay Wadhwa, deputy director of the Division of Enforcement, said the SEC considers several factors in determining the fine amount, including size of the firm, breadth and depth of the violations, whether a firm self-reported, level of cooperation, and more.

SEC Risk Alert on “T+1” Settlement Cycle

On March 29, 2024, the Securities and Exchange Commission’s Division of Examinations (EXAMS) published a Risk Alert on changes to the securities transaction settlement cycle. The Risk Alert noted that, as of May 28, 2024, “the standard settlement cycle for most transactions in US securities will shorten from two business days (‘T+2’) to one business day (‘T+1’).”

Flash Reports
01 Apr, 2024

SEC Adopts Reforms Relating to Internet Investment Advisers

On March 27, 2024, the Securities and Exchange Commission (SEC) adopted amendments to the rule that allows certain internet investment advisers to register with the SEC (the “internet adviser exemption”).