by Ara Jabrayan | Nov 21, 2023 | Books and Records, Chief Compliance Officer, compliance deficiencies, Compliance Violations, Crypto-Assets, Cybersecurity, Division of Enforcement, Division of Examinations, Hypothetical Performance, Investment Adviser Representative, policies and procedures, Press Releases, Private Funds, Registered Investment Advisers (RIAs), RIA Compliance, SEC NEWS, Social Media
On November 14, 2023, the SEC announced that it had filed 784 total enforcement actions during fiscal year 2023, a three percent increase over fiscal year 2022. Enforcement actions are intended to protect investors and enhance public trust in the securities markets.... by Ara Jabrayan | Nov 21, 2023 | Account Recommendations, Best Execution, Books and Records, Business Continuity and Disaster Recovery Plans, Chief Compliance Officer, Compliance Violations, Conflicts of Interest, Cyberattack, Cybersecurity, Division of Enforcement, Division of Examinations, Duty of Care, Examination Priorities, Fiduciary Duty, Form ADV, policies and procedures, Private Funds, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, Risk, SEC Cybersecurity, SEC Investment Adviser Compliance, SEC NEWS, SEC Rules, Suitability
On October 16, 2023, Registered Investment Advisers (RIAs) and other regulated firms received sooner-than-expected guidance from the SEC when the Commission published its 2024 examination priorities. The SEC previously announced its 2023 examination priorities on... by Ara Jabrayan | Sep 28, 2023 | 13F, Chief Compliance Officer, compliance deficiencies, Compliance Violations, Division of Enforcement, policies and procedures, RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC NEWS, Securities Exchange Act, State Investment Adviser Compliance
On September 13, 2023, the SEC brought an enforcement action against a Registered Investment Adviser (RIA) with investment discretion over more than $100 million of reportable securities. The RIA, which has offices in New York, New York, and West Palm Beach, Florida,... by Ara Jabrayan | Sep 28, 2023 | ADV Part 2A, ADV Part 2B, Books and Records, Business Continuity and Disaster Recovery Plans, Chief Compliance Officer, Client Relationship Summary, compliance deficiencies, Cybersecurity, Deficiencies, Examination Priorities, Fee Calculations, Form ADV, FORM CRS/Form ADV Part 3, Hedge Clause, Investment Adviser Representative, North American Securities Administrators Association (NASAA), policies and procedures, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, Safeguards Rule, State Investment Adviser Compliance
On September 11, 2023, the North American Securities Administrators Association (NASAA) released examination statistics that should serve as a wake-up call for state-registered investment advisers. A series of coordinated examinations of Registered Investment Advisers... by Ara Jabrayan | Sep 28, 2023 | Books and Records, Chief Compliance Officer, compliance deficiencies, Compliance Violations, Custody Rule, Deficiencies, Division of Enforcement, Form ADV, Investment Adviser Representative, policies and procedures, Private Funds, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC NEWS, SEC Rules
On September 5, 2023, the SEC announced charges against five Registered Investment Advisers (RIAs) that failed to comply with requirements designed to safeguard clients’ assets. Three of the firms were also charged with failing to update their disclosure of audits of... by Ara Jabrayan | Aug 31, 2023 | Books and Records, Chief Compliance Officer, Code of Ethics, compliance deficiencies, Compliance Violations, Deficiencies, Division of Enforcement, Division of Examinations, Fee Calculations, Investment Adviser Representative, Investment Advisers Act, Investment Advisers Act - Section 206(2), Investment Advisers Act - Section 206(4), Investment Advisers Act - Section 206(4)-7, policies and procedures, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC Rules, State Investment Adviser Compliance, Wrap fee, Wrap Program
On August 25, 2023, the SEC accused a dually registered investment adviser/broker-dealer with overcharging thousands of clients. The firm overcharged approximately 10,945 investment advisory accounts by more than $26.8 million in advisory fees. The firm agreed to pay...
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