News & Insights

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

Smaller Advisers: Time to Comply with Amended Reg S-P

The final compliance deadline of Amended Reg S-P is finally here. For smaller entities, who manage less than $1.5B in AUM, there are less than two months until the June 3, 2026, deadline.

Flash Reports
19 Oct, 2017

Natural Disasters Emphasize Need for Business Continuity and Transition Plans

Advisers should prioritize the implementation of written business continuity and transition plan to minimize operational disruptions arising from natural disasters, data security breaches, and the departure of important personnel. To maximize the efficiency of the written business continuity and transition plan, advisers should focus on a variety of business components

Flash Reports
13 Oct, 2017

House Panel Passes Bill to Repeal DOL Fiduciary Rule

On October 12, 2017, the House Financial Services Committee passed the Protecting Advice for Small Savers Act of 2017 (the “PASS Act”), which would repeal the DOL’s Fiduciary Rule. This bill would keep fiduciary rulemaking under the SEC’s jurisdiction.

Flash Reports
12 Oct, 2017

RIA Examinations Expected to Rise by 25% Over Next 2 Years

Congress, SEC Chairman Clayton stated that the SEC is on track to increase the number of registered investment adviser (“RIA”) examinations by 20 percent in the fiscal year 2017 and by an additional 5 percent in the fiscal year 2018.

Flash Reports
11 Oct, 2017

SEC Spoofed Emails Used In Spear Phishing Attack

Cisco’s Talos Intelligence Group has identified a targeted cyber-attack focusing on specific organizations.

Flash Reports
27 Sep, 2017

SEC Creates Cyber Unit and Retail Strategy Task Force

On September 25, 2017, the SEC announced the creation of the Enforcement Division’s Cyber Unit and Retail Strategy Task Force.

Flash Reports
25 Sep, 2017

PE Firm Charged with Improper Allocation of Broken Deal Expenses

The SEC charged a registered investment adviser with improperly allocating broken deal expenses between three private equity funds it manages.

Flash Reports
22 Sep, 2017

Amendments to the Books and Records Rule, Effective October 1st

Effective Oct. 1, advisers will be required to comply with the revised Books and Records Rule. Under the new rule, advisers must maintain additional records supporting the calculation and distribution of performance information.

Flash Reports
19 Sep, 2017

SEC Charges SunTrust With Improperly Recommending Costlier Mutual Funds

The SEC charged SunTrust Investment Services with receiving more than $1.1 million in client fees by improperly recommending costlier share classes of mutual funds when cheaper shares were available.

Flash Reports
13 Sep, 2017

PE Firm Charged for Improperly Allocating Overhead and Portfolio Expenses to Funds

The SEC charged a registered investment adviser (“the RIA”) and its principal (collectively, “Respondents”) with improperly allocating fees and expenses to two private equity funds (collectively, “the Funds”) managed by Respondents.

Flash Reports
08 Sep, 2017

SEC Charges Investment Adviser with Defrauding Clients and Prospective Clients

The SEC charged an investment adviser and its principal with misleading clients and prospective clients about the performance track record of an investment strategy they offered.