Tag: SEC Examinations
Common Triggers of Risk-Based Regulatory Exams and Practice Tips to Avoid Them
Regulatory exams can be painful - and disruptive. The key to avoid being ID'd as a high-risk firm and subject of an exam is to understand the current regulatory red flags.
November 29, 2021
Tags: Columns, SEC Examinations
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
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
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
New Risk Alerts Focus on Wrap Fee Programs, Principal and Cross Trades
The SEC’s Division of Examinations has issued two risk alerts describing the staff’s observations resulting from initiatives on wrap fee programs and principal and cross trades in fixed income securities.
July 22, 2021
Tags: Compliance Policies, Conflicts of Interest, Cross Trading, Disclosure, SEC Examinations, Wrap Fees
Form CRS, ESG Disclosure are Priorities for SEC Exams, Enforcement
Form CRS filing and ESG disclosure are among the top examination priorities, noted Peter Driscoll, Director of the SEC’s Division of Examinations, in a conversation with IAA General Counsel Gail Bernstein at the 2021 IAA Investment Adviser Compliance Conference.
March 09, 2021
Tags: Compliance Conference, ESG, Form CRS, Libor, Peter Driscoll, Private Funds, SEC Enforcement, SEC Examinations, Share Class Disclosure, Takeaways
OFAC, SEC Issue Guidance Related to Executive Order on Investments in Chinese Military Companies
OFAC has issued several FAQs related to an executive order that prohibits U.S. investors from investing in publicly traded securities of, securities that are derivative of, or securities that are designed to provide investment exposure to “Communist Chinese military companies.”
January 12, 2021
Tags: OCIE, ETFs, Mutual Funds, SEC Examinations, Treasury Department
OCIE’s New Name: Division of Examinations
The SEC has given its Office of Compliance Inspections and Examinations (OCIE) a new name.
December 21, 2020
Tags: OCIE, SEC Examinations
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