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SEC Disciplines Private Fund Advisors for Custody Rule Violations

by | Sep 28, 2023 | Books and Records, Chief Compliance Officer, compliance deficiencies, Compliance Violations, Custody Rule, Deficiencies, Division of Enforcement, Form ADV, Investment Adviser Representative, policies and procedures, Private Funds, Registered Investment Advisers (RIAs), RIA Compliance, RIA Compliance Policies, SEC NEWS, SEC Rules

On September 5, 2023, the SEC announced charges against five Registered Investment Advisers (RIAs) that failed to comply with requirements designed to safeguard clients’ assets. Three of the firms were also charged with failing to update their disclosure of audits of...