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’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 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...

2023 Compliance Roundup Shows RIAs How to Steer Clear of Problems

It has been a busy year for the SEC from a compliance perspective. You should think about these compliance events as you conduct your annual review of your firm’s policies and procedures. An adviser’s policies and procedures should reflect the firm’s business model,...

SEC Enforcement Stats Serve as Warning to RIAs and Other Firms

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....