RIA Disciplined For Failure to Conduct Annual Reviews

by Ara Jabrayan | Oct 18, 2016 | Code of Ethics, Division of Investment Management News, Fiduciary Duty, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC Rules, State Investment Adviser Compliance

The SEC recently imposed sanctions on a Registered Investment Adviser (RIA) in Lexington, Kentucky, because it failed to conduct the required annual review of the firm’s policies and procedures. The firm also ignored its compliance manual, which stipulated that the RIA would conduct those annual reviews.