Gensler Gets Tough on Enforcement Cases, Focuses on “High Impact” Cases
Getting tougher on enforcement, SEC Chair Gary Gensler has outlined principles for the Enforcement Division to consider when reviewing misconduct.
November 22, 2021
Cybersecurity Mandate for Fed Agencies: Remediate Urgent, Active Threats
In a new strategy to reduce government agencies' exposure to cyber attacks, the Cybersecurity and Infrastructure Security Agency (CISA) is instructing the SEC and DOL among others to quickly remediate a list of 290 active threats.
November 12, 2021
Tags: Cybersecurity
SEC Risk Alert Spotlights Deficiencies, Good Practices ID’d in RIC Exams
A new SEC Risk Alert reviews results of over 200 mutual funds and exchange-traded funds exams looking at impacts on retail investors.
November 12, 2021
Tags: Investment Company Act, Mutual Funds, Risk Alert, SEC Examinations
SEC Finds Wide Range of Compliance Issues in Digital Adviser Exams
A new Risk Alert outlines compliance deficiencies SEC examiners discovered in an initiative focused on digital advisers. The exams looked at how firms were upholding their fiduciary duty to provide clear and adequate disclosure, among other things.
November 12, 2021
Tags: Digital Advice, Risk Alert, SEC Examinations
Risk Alert Highlights Advisory Fee Calculations, Disclosures, Policies
A new Risk Alert showcases SEC examiners' findings on compliance issues around advisory fees. Examiners looked at overcharging, disclosure accuracy and adequacy, compliance program effectiveness, and accuracy of books and records.
November 12, 2021
Tags: Advisory Fees, Risk Alert, SEC Examinations
Active Managers Council’s Impact – and Two Major Initiatives
IAA President & CEO Karen Barr on how our Active Managers Council is producing positive, measurable results…with a look at two important current initiatives that we want you to support.
November 10, 2021
Tags: Active Management, Active Managers Council , IAA Policy, Karen Barr, Webinar
AMAC: Tailor Regs for Smaller Advisers, Maintain Technology-Neutral Approach
The SEC's Asset Management Advisory Committee (AMAC) is recommending that the SEC address the IAA's calls for relief for smaller investment advisors through tailored regulation and assessment of the cumulative impact of regulation on small firms.
November 04, 2021
Tags: AMAC, E-Delivery, Gail Bernstein, Gary Gensler, Hester Peirce, Industry Snapshot, Karen Barr
SEC Fines Advisers for Failure to Comply with Form CRS Requirements
In two enforcement actions, the SEC has fined New York-based investment advisers for failing to file and deliver Form CRS by the required deadlines.
November 04, 2021
Tags: Form CRS, SEC Enforcement, SEC Examinations
IOSCO Report Recommends Sustainability-Related Improvements for Asset Managers
IOSCO issues a Final Report with recommendations to improve sustainability-related practices, policies, procedures and disclosures in our industry.
November 04, 2021
Tags: ESG, International, IOSCO, Sustainable Investing
DOL Extends Relief on Compliance with Fiduciary Exemption
Following requests by the IAA and others, the DOL has extended its grace period for compliance with its new Fiduciary Exemption through January 31, 2022 – and says it won’t enforce the specific requirements pertaining to rollovers until June 30, 2022.
October 28, 2021
Tags: Retirement Savings, DOL, IRAs