SEC Risk Alert Helps RIAs Avoid Compliance Rule Deficiencies

On November 19, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert dealing with the Compliance Rule. OCIE’s Risk Alert discussed deficiencies and weaknesses identified by examiners. The Risk Alert reported that violations of...

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SEC Adopts Amendments to Broaden Accredited Investor Definition

On August 26, 2020, the SEC expanded the definition of “accredited investor,” which is one of the primary tests for determining who is eligible to participate in private capital markets. The SEC’s final rule can be found HERE. According to Chairman Jay Clayton of the...

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SEC Risk Alert Gives Advice to Private Fund Advisers

The SEC has published a Risk Alert, which summarized compliance issues discovered during hundreds of examinations of investment advisers that manage private equity funds or hedge funds. Examiners from the SEC’s Office of Compliance Inspections and Examinations (OCIE)...

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Recent SEC Cybersecurity and Resiliency Observations

On January 27, 2020, the SEC’s Office of Compliance Inspections and Examinations (OCIE) published observations from examiners pertaining to market participants’ cybersecurity and operational resiliency practices. Resiliency means more than just preventing or...

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Registration Requirements for Zero De Minimis States

This year alone, the Texas State Securities Board has fined 4 Registered Investments Advisers (RIAs) for providing investment advice to Texas based clients without a proper registration or state notice filing. We would like to remind clients that they need to be...

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Recent Virginia Rule Changes

As you may know, cyberattacks on an organization’s data information systems have been increasing at exponential rates throughout every industry. The financial services industry is increasingly victim to these crimes due to the proximity to investment capital and...

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