SEC’s Division of Examinations Risk Alert Regarding Observations from Examinations of Newly-Registered Advisers

On March 27, 2023, the SEC’s Division of Examinations (Division) published a Risk Alert that will be of great interest to newly-registered investment advisers. The observations will also be invaluable to investment advisers that have been in business for some years....

SEC’s Division of Examinations Announces Its 2023 Priorities

On February 7, 2023, the SEC’s Division of Examinations announced its 2023 examination priorities. These examination priorities are published annually to provide insights into the SEC’s risk-based approach. The publication also identifies areas that present potential...

SEC Risk Alert Gives Guidance on How RIAs Can Comply with Regulation S-ID

On December 5, 2022, the Division of Examinations (Division) published a Risk Alert that reported observations from recent examinations of SEC-registered investment advisers (RIAs) and broker-dealers related to their compliance with Regulation S-ID. The goal of the...

SEC Announces Enforcement Statistics for Fiscal Year 2022

On November 15, 2022, the SEC announced its enforcement results for fiscal year 2022.  Despite the lingering impact of COVID 19, the SEC filed 760 enforcement actions and recovered a record $6.439 billion in penalties and disgorgement on behalf of investors. The...

NASAA Statistics Show RIAs They Need to Improve their Compliance Programs

Recently the North American Securities Administrators Association (NASAA) released its annual Enforcement Report. The publication highlighted the investigations and enforcement actions taken by state securities regulators to protect investors and maintain the...