Enforcement Archives

SEC Offering Amnesty to Firms Impacted by SolarWinds Cyberattack – If They Cooperate

The SEC’s Enforcement staff is conducting an investigation related to the widely publicized December 2020 SolarWinds cyberattack. As part of this investigation, beginning on June 17, the staff sent letters to regulated entities it believed may have been victims of the cyberattack, including public and private companies, investment advisers, broker-dealers, transfer agents, clearing agencies, and exchanges.

July 19, 2021

Tags: Cybersecurity, Enforcement

BDC Adviser Fined Over $800,000 for Accepting Fees Without Board Knowledge or Approval

The SEC has settled charges against a California-based investment adviser and its co-principal and managing member in connection with their failure to disclose or seek approval for material conflicts of interest in relation to their management of a business development company.

June 15, 2021

Tags: Conflicts of Interest, Enforcement, Fees and Expenses, Fiduciary, Investment Company Act

New York City Bar Recommends SEC Framework for CCO Liability

The New York City Bar Association Compliance Committee recently issued a detailed Framework for Chief Compliance Officer Liability in the Financial Sector.

June 15, 2021

Tags: CCO, Compliance, Enforcement

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