SEC 2024 Enforcement Results Demonstrate the Importance of Compliance
On November 22, 2024, the SEC announced its enforcement results for fiscal year 2024. The results show that the SEC’s Division of Enforcement (Division) vigorously enforced the federal securities laws by recommending high-impact enforcement actions to address...
SEC Sanctions RIA and its CEO for Failing to Supervise and Unreasonably Delegating Supervisory Responsibilities
A recent enforcement action has significant implications for Registered Investment Advisers (RIAs), especially for those with multiple Investment Adviser Representatives (IARs) and offices. The case illustrates the SEC’s expectations of firms related to their...
SEC’s 2025 Examination Priorities Are a High Priority for RIAs, IARs, and CCOs
On October 21, 2024, the SEC’s Division of Examinations (Division) published its fiscal year priorities for 2025. This annual publication contains information that will be particularly important to Registered Investment Advisers (RIAs), Investment Adviser...
The SEC Disciplines RIAs for Ignoring Client Instructions and Whistleblower Rule Violations
On September 25, 2024, the SEC charged two firms with ignoring clients’ instructions and exceeding their designated investment limits for over two years. The two firms charged were Merrill Lynch, Pierce, Fenner & Smith Inc. (“Merrill Lynch”), a registered...
SEC Charges RIA with Misleading Investors about its Investment Strategy
SEC Charges RIA with Misleading Investors about its Investment Strategy On September 19, 2024, the SEC charged an Idaho-based Registered Investment Adviser (RIA) with making misleading statements, as well as compliance failures, related to the firm’s execution of its...
The SEC Disciplines RIA for Custody Rule and Liability Disclaimer Violations
On September 3, 2024, the SEC announced that it had settled charges against a Registered Investment Adviser (RIA) that failed to comply with requirements pertaining to the safekeeping of client assets. The SEC also alleged that the RIA used impermissible liability...
The SEC Disciplines RIAs for Undisclosed Conflicts of Interest, Recordkeeping Violations, and Pay to Play Rule Violations
On August 12, 2024, the SEC announced that it had settled charges against a New York-based Registered Investment Adviser (RIA). The SEC ordered the RIA to pay over $6 million and to return funds to clients who were harmed by the firm’s undisclosed conflicts of...
SEC Disciplines RIA for Breaching Its Fiduciary Duty When Recommending Variable Annuities and Other Investments
On May 20, 2024, the SEC settled an enforcement action against a Registered Investment Adviser (RIA) located in San Rafael, California. The SEC alleged that the RIA and its owner breached their fiduciary duty and failed to provide accurate disclosures. The RIA’s...
SEC Risk Alert Provides Long-Awaited Guidance on Marketing Rule Compliance
On April 17, 2024, the SEC provided Registered Investment Advisers (RIAs) with its observations regarding firms’ compliance with the Marketing Rule. It is imperative for RIAs to take note of those observations and to be observant as they implement their compliance...
Misleading Communications Lead to Compliance Problems
On April 22, 2024, the SEC resolved an enforcement action against an investment adviser and the firm’s owner based in Fort Lauderdale. The enforcement action demonstrates how important it is for investment advisers and Investment Adviser Representatives to be accurate...
SEC NEWS
SEC NEWS
- SEC Announces 44th Annual Small Business Forum to Impact Capital-Raising Policyon February 14, 2025 at 5:55 pm
The Securities and Exchange Commission will host the SEC’s 44th Annual Government-Business Forum on Small Business Capital Formation at SEC Headquarters in Washington, D.C. on April 10 from 1 – 4:30 p.m. ET. The forum brings together members of […]
- SEC Seeks Candidates for Membership on the Investor Advisory Committeeon February 14, 2025 at 5:00 pm
The Securities and Exchange Commission is seeking candidates for appointment as members of the SEC’s Investor Advisory Committee, which was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act to help protect investors and […]
- SEC Charges One Oak Capital Management and Michael DeRosa with Breaching Fiduciary Duties to Clientson February 14, 2025 at 2:11 pm
The Securities and Exchange Commission today filed settled charges against New York-based registered investment adviser One Oak Capital Management LLC, and former One Oak investment adviser representative, Michael DeRosa, for misconduct related to…
- Exemption From the Requirement to Report Certain Personally Identifiable Information to the Consolidated Audit Trailon February 10, 2025 at 10:55 pm
The Securities and Exchange Commission today provided an exemption from the requirement to report certain personally identifiable information (PII) – names, addresses, and years of birth – to the Consolidated Audit Trail (CAT) for natural […]
- Exemption From Exchange Act Rule 13f-2 and Related Form SHOon February 7, 2025 at 10:40 pm
The Securities and Exchange Commission today provided a temporary exemption from compliance with Rule 13f-2 under the Securities Exchange Act and from reporting on Form SHO. As a result of the exemption, filings on initial Form SHO reports from…
DIVISION OF INVESTMENT MANAGEMENT NEWS
- Annoucement: Updates to Proxy Rules and Schedules 14A/14Con February 15, 2025 at 8:18 pm
Proxy Rules and Schedules 14A/14C
- Compliance and Disclosure Interpretations - Exchange Act Form 8-K Compliance and Disclosure Interpretationson June 24, 2024 at 4:10 pm
Section 104B. Item 1.05 Material Cybersecurity Incidents
- Compliance and Disclosure Interpretations - Exchange Act Form 8-K Compliance and Disclosure Interpretationson June 24, 2024 at 4:10 pm
Section 104B. Item 1.05 Material Cybersecurity Incidents
- Compliance and Disclosure Interpretations - Exchange Act Form 8-K Compliance and Disclosure Interpretationson June 24, 2024 at 4:10 pm
Section 104B. Item 1.05 Material Cybersecurity Incidents
- Compliance and Disclosure Interpretations - Exchange Act Form 8-K Compliance and Disclosure Interpretationson June 24, 2024 at 4:10 pm
Section 104B. Item 1.05 Material Cybersecurity Incidents