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...

SEC Releases Findings from its Wrap Fee Initiative Examinations

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...