Ellen oversees the firm’s Compliance Administration and Performance Services practice areas.
Rule 206(4)-5 of the Advisers Act specifically prohibits investment advisers from providing advisory services for compensation to a government entity for two years after the adviser makes a campaign contribution.
The whistleblower program, established in 2010, was created to give individuals an incentive to report “high-quality tips” to the Commission.
A final consent judgment was entered against a Washington-based investment adviser (“Defendant”) after he misled more than 100 investors to invest in his funds by providing fraudulent information in breach of his fiduciary duty.
The SEC voted on a proposal known as Regulation Best Interest, a set of rules and interpretations intended to improve the quality and transparency of investors’ relationships with investment advisers and broker-dealers while protecting access to a variety of investment relationships and products.
The SEC’s Division of Enforcement issued a list of 19 Frequently Asked Questions on the Share Class Selection Disclosure Initiative, going in-depth on adviser eligibility, disgorgement, and the distribution of funds to clients.
According to the SEC, the principle, sole owner of an investment firm falsely claimed more than $100 million in AUM from 2012-2016 to meet the minimum eligibility requirement for SEC registration. The owner of the firm also made violations to the custody rule by failing to provide quarterly statements to clients and by failing to organize an annual surprise audit of assets.
