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The SEC Disciplines RIA for Custody Rule and Liability Disclaimer Violations

by | Sep 6, 2024 | Advisory Contract, Audit, Books and Records, Chief Compliance Officer, Compliance Violations, Custody Rule, Deceit, Deficiencies, Duty of Care, Fiduciary Duty, Fines, Hedge Clause, Investment Adviser Representative, Investment Advisers Act - Section 206(4), Liability, Penalty, policies and procedures, Private Funds, Registered Investment Advisers (RIAs), Retail Investors, RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC NEWS

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...