Off-Channel Communications Will Lead to Record-keeping Violations

On August 8, 2023, the SEC charged eleven financial services firms, including a dually registered broker-dealer (BD) and Registered Investment Adviser (RIA), with widespread record-keeping violations. The firms acknowledged their wrongdoing and agreed to pay combined...

SEC Issues New Marketing Rule Risk Alert

On September 19, 2022, the SEC’s Division of Examinations published a Risk Alert dealing with the Commission’s initial areas of review of Registered Investment Advisers’ (RIAs) compliance with the Marketing Rule. In its latest Risk Alert published on June 8, 2023, SEC...