SEC Will Examine RIAs That Employ Persons With a History of Disciplinary Events

On September 12, 2016, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert which announced its intent to conduct examinations of Registered Investment Advisers (RIAs) that employ or contract with persons who have a history of disciplinary events. OCIE’s examinations will evaluate the effectiveness of the RIA’s compliance programs, supervisory oversight, and disclosures to clients and prospects.

Compliance Alert – Privacy Notice Relief Signed Into Law; Cybersecurity Obligations Get More Complicated

On December 4, 2015, President Obama signed a highway bill into law, which tacked on an exception to the annual privacy notice requirement for financial institutions that satisfy certain conditions. In legislation that can only be understood by Washington, D.C....