SEC’s Supervision Initiative Risk Alert

On July 23, 2019, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert, which discussed its observations from examining firms that currently employ or previously employed supervised persons with a history of disciplinary...

SEC Adopts New Rules and Interpretations Impacting RIAs and BDs

On June 5, 2019, the SEC voted to adopt the Form CRS Relationship Summary and Regulation Best Interest, also known as Reg BI. On the same day, the Commission issued two interpretations of the Investment Advisers Act of 1940. In its press release, the SEC stated that...

Regulatory Examination Data and Document Production Requests

Investment adviser routine examination programs and types of exams vary by state. Some are conducted online; some are conducted offsite; and, some are conducted onsite. The SEC conducts various types of routine examinations ranging from limited-scope, remote...

SEC Issues Risk Alert Dealing with Regulation S-P Privacy Notices & Safeguard Policies

On April 16, 2019, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert dealing with Regulation S-P, which is the Commission’s primary rule governing privacy notices and the safeguarding policies of Registered...