News & Insights

Check out our Flash Reports for the latest SEC- and compliance-related news, trends, and insights.

Flash Reports
16 Nov, 2023

Stay Vigilant to Help Prevent Cyberattacks During the Holidays

Cybercrimes tend to increase during the holiday season, as malicious actors take advantage of the increased employee travel and distractions that are more common during the holiday season. To help protect from cyberattacks during the busy holiday season, the FBI and CISA compiled several recommendations that employees can take now to prevent from these kinds of attacks.

Private Fund Trade Groups Sue SEC Over Private Fund Reforms

On September 1, 2023, six private equity and hedge fund trade groups sued the SEC to block new private fund reforms adopted in August. The suit was filed in the Fifth Circuit Court of Appeals and argued that the SEC overstepped its statutory authority by adopting sweeping changes with these new rules for private funds.

News
06 Sep, 2023
Amber Allen

Podcast: New SEC Private Funds Rules – What Is Happening and What You Need to Know

Podcast: New SEC Private Funds Rules- On August 23, the SEC finalized the Private Funds Rules, which aim to enhance the protections afforded to investors in private funds that are managed by private fund advisers.

Flash Reports
29 Aug, 2023

Risk and Financial Advisory Solutions Hit with SMS (2FA) Swap Attack

On Saturday, August 19, 2023, a Kroll employee fell victim to a sophisticated “SIM swapping” cyber-attack, targeting their T-Mobile US., Inc. account. This attack involved the transfer of the Kroll employee’s phone number by T-Mobile to the threat actor’s device at their request.

Divided SEC Adopts Private Fund Adviser Reforms

On August 23, 2023, a divided SEC voted to adopt enhanced regulations of private fund advisers and to update the Compliance Rule for all investment advisers.

Flash Reports
23 Aug, 2023

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.

Flash Reports
09 Aug, 2023

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.

Flash Reports
28 Jul, 2023

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”.

Flash Reports
27 Jul, 2023

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”.

Flash Reports
18 Jul, 2023

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.

Flash Reports
17 Jul, 2023

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.