Archive Of The Category ‘Uncategorized‘

ESG Investing Risks & Compliance Implications

ESG Investing Risks & Compliance Implications

02 July 2021

Main Contributor: Gretchen Sturdivan, Creative Director & Client Service Manager Approaching Sustainability The SEC Division of Examinations published a Risk Alert on April 9, 2021, as a result of their exam findings with firms who offer Environmental, Social, Governance (“ESG”) products and services. ESG investing has been an Examination Priority for the SEC for theRead More »

Compliant Advertising –  Breaking It Down (Again) Part 2: General Prohibitions

Compliant Advertising – Breaking It Down (Again) Part 2: General Prohibitions

02 June 2021

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant Background This article follows the first in our series, The Definition of an Advertisement, where we summarized the amended Marketing Rule’s definitions of an advertisement; specifically the elements covered under Prong 1 and Prong 2 of the definition. Part Two of our series will focusRead More »

Compliant Advertising –  Breaking It Down (Again) Part 1: The Definition  of an Advertisement

Compliant Advertising – Breaking It Down (Again) Part 1: The Definition of an Advertisement

01 March 2021

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant   Background The SEC proposed and adopted the new Marketing Rule, (the “Rule”) which will eventually replace the current Advertising Rule (Rule 206(4)-1, originally adopted in 1961) and the Solicitation Rule (Rule 206(4)-3, originally adopted in 1979). The Rule is a complete rewrite of theRead More »

SEC Risk Alert Large Trader Obligations (Form 13H)

SEC Risk Alert Large Trader Obligations (Form 13H)

26 January 2021

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant   On December 16, 2020 the SEC released a risk alert addressing observations from examinations for adviser’s compliance with Rule 13h-1, also known as the Large Trader Rule.. This article will cover investment advisers’ obligations under Rule 13h-1 and helpful guidance to make it easier.Read More »

2021 RIA Compliance Calendar & Filing Deadlines

2021 RIA Compliance Calendar & Filing Deadlines

05 January 2021

Don’t miss a compliance deadline this year!  We have put together a calendar to help you keep track of regulatory filing deadlines for 2021.  You might want to bookmark this one and also make sure you are on our deadline reminder list!   2021 SEC Regulatory Deadlines for Investment Advisers The filing deadlines are listedRead More »

New York State Now Requires Investment Advisor Representatives to Register

New York State Now Requires Investment Advisor Representatives to Register

17 December 2020

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant   Effective February 1, 2021, New York state will require Investment Advisor Representatives (“IARs”) to register with the state via the CRS/IARD system. You can read the updated NY regulation here. Historically, New York has been one of the few states to not require IARsRead More »

SEC Risk Alert: Safeguarding Against Credential Compromise

SEC Risk Alert: Safeguarding Against Credential Compromise

30 October 2020

Main Contributor: Gretchen Sturdivan, Creative Director & Client Service Manager   On September 15th, the SEC issued a Risk Alert to address a method of cyber-attack that is more sophisticated yet increasingly accessible to attackers: “credential stuffing.” We’re getting close to Thanksgiving, but that’s not the direction the SEC is going. This method of cyber-attackRead More »

SEC Proposed Changes on 13F

SEC Proposed Changes on 13F

19 July 2020

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant   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 advisersRead More »

Exam Findings for Private Funds

Exam Findings for Private Funds

06 July 2020

Main Contributor: Elizabeth Cope, CPA, CSCP, CIPM, CEO & Lead Consultant   The SEC issued a risk alert on June 23rd that provides a summary of the results the staff discovered when conducting exams of investment advisors that manage private funds. If you are an advisor to private funds (all types including private equity) orRead More »

Compliance During the Pandemic

Compliance During the Pandemic

02 June 2020

Main Contributor: Elizabeth Cope, CPA, CSCP, CIPM, CEO & Lead Consultant   We have settled into work from home life and found a (somewhat) new normal of work during the pandemic. When the dust settles, we expect the SEC to focus on areas such as business continuity and supervision of employees during the pandemic. WeRead More »

SEC Risk Alert: Form CRS

SEC Risk Alert: Form CRS

08 May 2020

Main Contributor: Katie Mogan, IACCP® Vice President, Senior Compliance Consultant   SEC Risk Alert: Form CRS On April 7, 2020, the Office of Compliance Inspections and Examinations (“OCIE”) issued a risk alert to let advisors and broker-dealers know that, regardless of COVID-19,  it’s business as usual at the SEC and firms must continue to meetRead More »

Compliant Advertising: Breaking it Down – Part 2: Testimonials

Compliant Advertising: Breaking it Down – Part 2: Testimonials

25 October 2019

Main Contributor: Elizabeth Cope, CPA, CSCP, CIPM, CEO & Lead Consultant   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:Read More »

Risk Alert: Use of Third Parties for Network Storage

Risk Alert: Use of Third Parties for Network Storage

02 July 2019

Main Contributor: Elizabeth Cope, CPA, CSCP, CIPM, CEO & Lead Consultant   As a reminder, a “Risk Alert” is the SEC’s way of giving you a heads up about patterns of deficiencies during recent examinations.  They can help you stay on top of your game. On May 23, 2019, the SEC issued a risk alertRead More »

Good News!  The SEC made a U-Turn on Inadvertent Custody

Good News! The SEC made a U-Turn on Inadvertent Custody

25 June 2018

The SEC recently updated the Staff Responses to Questions About the Custody Rule (“Custody FAQ”).  And this time, it’s a relief! As you probably recall, in February 2017, the SEC said that advisers may have “Inadvertent Custody” due to language that is in the agreement between the custodian and the client, which caused much angstRead More »