by Ara Jabrayan | Jul 28, 2021 | Division of Examinations, FORM CRS/Form ADV Part 3, Registered Investment Advisers (RIAs), retail investor, RIA Compliance, RIA Compliance Policies
On July 26, 2021, the SEC announced that 21 Registered Investment Advisers (RIAs) settled charges alleging that they failed to file and deliver their client relationship summaries, known as Form CRS, in a timely manner. Form CRS is also frequently referred to as Form... by Ara Jabrayan | Jul 27, 2021 | Division of Examinations, Examination Priorities, FORM CRS/Form ADV Part 3, Investment Adviser Representative, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC NEWS, Uncategorized, Wrap fee
Wrap fee programs have been on the SEC’s radar for quite a while. When the SEC published its annual examination priorities in 2017, 2018, and 2019, wrap fee programs were mentioned as putting investors at risk. On July 21, 2021, the SEC’s Division of Examinations... by Ara Jabrayan | Apr 28, 2021 | Compliance Violations, Investment Adviser Representative, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies
On January 14, 2021, the SEC brought an enforcement action against a California-based Registered Investment Adviser (RIA) and its CEO, because they failed to make certain disclosures that led to clients being deceived. The firm also failed to reasonably supervise an... by Ara Jabrayan | Apr 28, 2021 | Division of Examinations, Registered Investment Advisers (RIAs), RIA Compliance, Uncategorized
On March 3, 2021, the SEC’s Division of Examinations (Division) published its examination priorities for the year. These priorities are the driving force behind the Division’s examinations but are not exhaustive. Examiners may focus on other issues during an... by Ara Jabrayan | Apr 28, 2021 | Advertising, De minimis exemption, Registered Investment Advisers (RIAs), RIA Compliance, SEC Investment Adviser Compliance, SEC Rules
On December 22, 2020, the SEC enacted the new Marketing Rule, which will have an enormous impact on Registered Investment Advisers (RIAs). The new rule will replace the prior Advertising Rule, as well as the Cash Solicitation Rule. The SEC also amended Form ADV and... by Ara Jabrayan | Dec 23, 2019 | Cherry-Picking, Conflicts of Interest, Division of Investment Management News, Examination Priorities, Improper Share Class Selection, Investment Advisers Act, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC Investment Adviser Compliance, SEC Rules, Supervision Initiative, Uncategorized
On December 19, 2019, the SEC filed a complaint in federal court against a Sacramento, California-based investment advisory firm and its owner. The complaint alleged that the Registered Investment Adviser (RIA) and its owner defrauded hundreds of retail clients, most...
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