SEC Charges Nine Private Fund Advisers with Custody, Form ADV Rule Violations
The SEC charged nine private fund advisers with custody and Form ADV deficiencies.
September 19, 2022
Tags: Form ADV, Custody, SEC Enforcement
Agencies Update Regulatory Agendas, Custody Rule Proposal Expected Soon
Federal agencies issue Spring 2022 Reg Flex agendas; Custody Rule expected in near term, FTC premerger notification rule and anti-money laundering for advisers on the agenda.
June 27, 2022
Tags: Money Market Funds, AML, CFTC, Custody, Cybersecurity, DOL, ESG, Private Funds, Proxy Voting, Regulatory Agendas, SEC Investment Management
Agencies’ Regulatory Agendas Include AML, Cybersecurity, ESG, and More
Federal agencies have released updates to their regulatory agendas, which include several important new potential regulations for investment advisers, most notably regarding anti-money laundering, cybersecurity, and private fund advisers.
December 15, 2021
Tags: Money Market Funds, AML, CFTC, Custody, Cybersecurity, DOL, ESG, Private Funds, Proxy Voting, Regulatory Agendas, SEC Investment Management
Adviser Fined for Custody Rule Violations for Facilitating Loans Between Clients
The SEC has fined a California-based registered investment adviser and its president for custody failures. The president, who was the majority owner of the adviser, facilitated $30 million in loans...
October 07, 2021
Tags: Compliance Policies, Conflicts of Interest, Custody, SEC Enforcement
The SEC has fined an Ohio-based dual-registrant for violating the Custody Rule because the firm did not provide investors in two private funds that it advised with audited financial statements...
September 22, 2021
Tags: Custody, Disclosure, Private Funds, SEC Enforcement
Adviser Fined for Conflicts Disclosure and Custody Issues Related to Private Fund Investments
The SEC has fined a Connecticut-based investment adviser and its principal for inadequate disclosure of conflicts of interest related to investments of a private fund client and for violations of...
September 22, 2021
Tags: Conflicts of Interest, Custody, Private Funds, SEC Enforcement
SEC Charges Private Funds Auditor for Causing Adviser to Violate Custody Rule
The SEC has instituted administrative proceedings against a Colorado-based SEC-registered adviser’s audit firm, audit engagement partner, and quality review partner for “widespread audit failures” in connection with 12 audits of...
July 27, 2021
Tags: Custody, SEC Enforcement
SEC’s Office of the Investor Advocate Announces Objectives for 2022
The SEC’s Office of the Investor Advocate, headed by Rick Fleming, has laid out its policy agenda for protecting and promoting the interests of retail investors in its annual...
July 07, 2021
Tags: Custody, Digital Assets, ESG, IAC, Rick Fleming, SEC Investor Advocate
Federal Agencies Release Spring 2021 Regulatory Agendas
Federal agencies recently released the spring 2021 update to their regulatory agendas. These agendas are the first issued under the Biden Administration and reflect this administration’s policy priorities. They include...
June 16, 2021
Tags: Accredited Investor, CFTC, Custody, DOL, ESG, Marketing Rule, Money Market Fund, Proxy Voting, Regulatory Agendas, SEC Investment Management
SEC Chair Gary Gensler Sustainable investing, proxy voting, modernization of the Custody and Pay-to-Play Rules, e-delivery, investor testing of Form CRS, appropriate regulation of smaller advisers, effective coordination with other...
May 19, 2021
Tags: Custody, Diversity & Inclusion, E-Delivery, Form CRS, Gary Gensler, Karen Barr, Pay-to-Play, Proxy, Reg BI, Sustainable Investing