News & Insights

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

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
30 May, 2017

DOL Releases FAQ on Conflicts of Interest During the Transition Period

The Department of Labor has released an FAQ focused on the transition period after the June 9th implementation of the Fiduciary Rule and related prohibited transaction exemptions.

Flash Reports
24 May, 2017

Legal Risks Associated with Cyberattacks

The recent ransomware attack that has affected over 100,000 organizations has emphasized how immense the potential impact can be on the financial services industry. Firms must protect their network from these threats through various technical lines of defense.

Flash Reports
23 May, 2017

Labor Secretary Acosta Declines to Delay the Fiduciary Rule

Labor Secretary Acosta confirmed that the Department of Labor (“DOL”) was unable to find “a principled legal basis to change the June 9 implementation date” for the Fiduciary Rule.

Flash Reports
18 May, 2017

SEC Releases Risk Alert on Ransomware

On May 17, 2017, the SEC released a risk alert on a widespread ransomware attack, known as WannaCry, WCry or Wanna Decryptor.

Flash Reports
17 May, 2017

SEC Amends Form ADV Part 1A and the Advisers Act

The SEC adopted amendments to Part 1A of Form ADV and the Investment Advisers Act of 1940 to better monitor various risks in the investment management industry.

Flash Reports
15 May, 2017

SEC Takes Strict Stance on General Solicitations of Certain Regulation D Offerings

In a review of a FINRA disciplinary action, the SEC affirmed its zero-tolerance policy for general solicitations of specific Regulation D offerings.

Flash Reports
19 Apr, 2017

CFA Institute Issues Guidance Statement on Broadly Distributed Pooled Funds

A broadly distributed pooled fund is defined as a fund which is publicly available to multiple investors without a minimum quantity of investors required.

Flash Reports
12 Apr, 2017

CCO Charged with Inadequate Form ADV Disclosures

The SEC charged the dually-acting principal and Chief Compliance Officer of Alison, LLC, with failing to provide specific books and records to the Commission’s examination staff.

Flash Reports
06 Apr, 2017

Applicability of the Fiduciary Rule Extended

On April 5, 2017, the Department of Labor issued a 60-day delay of the Fiduciary Rule’s applicability date to June 9, 2017. This extension applies to related exemptions as well, including the Best Interest Contract Exemption.

Flash Reports
23 Feb, 2017

SEC Releases ‘No-Action’ Letter Concerning the Custody Rule

SEC released a ‘no-action’ letter to address confusion surrounding the Custody Rule and its requirements for first-party and third-party money movement.