Custody Archives

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

Private Fund Placement Agent Fined for Custody Rule Violations and Lack of Disclosure of Misappropriation

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

SEC Charges Private Funds Auditor for Causing Adviser to Violate Custody Rule July 27, 2021 The SEC has instituted administrative proceedings against a Colorado-based SEC-registered adviser’s audit firm, audit...

July 27, 2021

Tags: Custody, SEC Enforcement

SEC’s Office of the Investor Advocate Announces Objectives for 2022

SEC’s Office of the Investor Advocate Announces Objectives for 2022 July 7, 2021 The SEC’s Office of the Investor Advocate, headed by Rick Fleming, has laid out its policy...

July 07, 2021

Tags: Custody, Digital Assets, ESG, IAC, Rick Fleming, SEC Investor Advocate

Federal Agencies Release Spring 2021 Regulatory Agendas

Federal Agencies Release Spring 2021 Regulatory Agendas Focus on ESG Disclosure, Custody, Proxy Voting, Cross-Trading, Money Market Funds June 16, 2021 Federal agencies recently released the spring 2021 update...

June 16, 2021

Tags: Accredited Investor, CFTC, Custody, DOL, ESG, Marketing Rule, Money Market Fund, Proxy Voting, Regulatory Agendas, SEC Investment Management

IAA Presents List of Critical Adviser Issues, Regulatory Challenges To New SEC Chair as He Formulates His Regulatory Agenda

IAA Presents List of Critical Adviser Issues, Regulatory Challenges To New SEC Chair as He Formulates His Regulatory Agenda May 19, 2021 SEC Chair Gary Gensler Sustainable investing, proxy...

May 19, 2021

Tags: Custody, Diversity & Inclusion, E-Delivery, Form CRS, Gary Gensler, Karen Barr, Pay-to-Play, Proxy, Reg BI, Sustainable Investing

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