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The SEC adopted amendments to Regulation S-P requiring broker-dealers, investment companies, registered investment advisors, and transfer agents to implement and maintain policies and procedures regarding an incident response program that are designed to detect, respond, and recover from unwarranted access or use of client information.
Read MoreFrom 2013 to 2016, the SEC found that three traders of Citigroup Global Markets Inc. The SEC released its charges against Citigroup for books and records violations, inadequate internal controls and poor trade administration.
On July 11th, 2018, the OCIE released a risk alert outlining the most common deficiencies cited in adviser examinations regarding best execution obligations. The risk alert summarizes issues identified in deficiency letters from over 1,500 adviser examinations.