Archive Of The Category ‘Uncategorized‘

SEC Proposed Changes on 13F

SEC Proposed Changes on 13F

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 »

Exam Findings for Private Funds

Exam Findings for Private Funds

06 July 2020

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) or plan to be, we highly recommend you read through this article toRead More »

Compliance During the Pandemic

Compliance During the Pandemic

02 June 2020

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. We also wouldn’t be surprised if the SEC conducts sweep exams of pandemicRead More »

SEC Risk Alert: Form CRS

SEC Risk Alert: Form CRS

08 May 2020

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 meet their filing and delivery obligations of Form CRS. OCIE will mostRead More »

Compliant Advertising: Breaking it Down – Part 2: Testimonials

Compliant Advertising: Breaking it Down – Part 2: Testimonials

25 October 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 »

Risk Alert: Use of Third Parties for Network Storage

Risk Alert: Use of Third Parties for Network Storage

02 July 2019

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 alert on utilizing third parties to host and store records.  Using a thirdRead 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 »