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.
On June 4th, 2018, the SEC released its order instituting administrative and cease-and-desist proceedings against a registered investment adviser (“Respondent”) found to be in multiple violations of the Advisers Act.
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.