04 January 2021
The SEC Risk Alerts keep coming, this time with exam observations regarding investment advisors’ Compliance Programs. According to OCIE, the most common exam deficiencies arise from issues with Rule 206-4(7), known as “the Compliance Rule.” Rule 206(4)-7 requires investment advisors to have policies and procedures reasonably designed to prevent, detect, and correct violations of theRead More »
24 September 2020
In August of this year, the SEC released an amendment to the “accredited investor” definition. What is an Accredited Investor? Certain qualifications must be met in order to invest in private placements or private funds. One qualification is being an “accredited investor.” An accredited investor must have an annual income of $200,000 (if single) orRead More »
19 July 2020
On July 10th, the SEC released a proposal to amend reporting requirements of Form 13F to update the reporting threshold which has not been adjusted in over 40 years. What is 13F? Section 13F of the Securities and Exchange Act requires registered investment advisers to file a report with the Commission, via the Edgar system,Read More »
06 March 2020
Review of Part 1: The Foundation In the first article of this series, we discussed the foundational information you need to know to ensure your marketing and advertising materials are in compliance with the SEC’s rules and regulations. We helped you clearly understand: the SEC’s definition of an “advertisement.” What is considered an advertisement, whatRead More »
27 November 2019
Review of Part 1: The Foundation In the first article of this series, we discussed the foundational information you need to know to ensure your marketing and advertising materials are in compliance with the SEC’s rules and regulations. We helped you clearly understand: the SEC’s definition of an “advertisement.” What is considered an advertisement, whatRead More »
29 April 2019
The topic of Advertising is one of the most challenging areas for CCOs. The challenge begins with the SEC’s definition of “advertisement.” It’s confusing and outdated. The way that the rule is written makes you feel like you have to run through a flow chart of questions every time you write something, meet with someone,Read More »
07 February 2018
On October 1, 2017, the U.S. Securities and Exchange Commission (“SEC”) amended the ADV Part 1 to obtain more information on registered investment advisers. As the annual amendment date (March 31st, 2018) closes in, we want to summarize important changes and remind you of important practices this filing season. SCS Suggests As you start yourRead More »