• Posts by Robert R. Boeche II, Esq.
    Senior Associate

    Mr. Boeche provides strategic legal counsel to investment advisers, broker-dealers, private funds and other financial professionals. Mr. Boeche advises clients on all aspects of formation, registration, and ongoing ...

SEC Proposes Exemptions to Application Procedures

The Securities and Exchange Commission (“SEC”) has announced that it voted to establish an expedited review process for Investment Company Act applications that are substantially identical to recent precedent. Intended to make the application process more efficient by streamlining the process for routine applications and reduce the likelihood that applicants would need to file amendments to applications in response to staff comments.

PricewaterhouseCoopers LLP pays $7.9 to Settle SEC Improper Professional Conduct, Auditor Independence Charges

PricewaterhouseCoopers LLP has agreed to pay over $7.9 million to settle charges brought by The Securities and Exchange Commission (“SEC”). The SEC charges alleged that PwC, and its partner Brandon Sprankle, had engaged in improper professional conduct on 19 engagements on behalf of 15 audit SEC-registered issuers and violating auditor independence by performing non-audit services during an audit engagement.

OCIE Risk Alert: Guidance for Compliance, Supervisory and Disclosure Procedures

The Office of Compliance Inspections and Examinations (OCIE) released a risk alert outlining findings of examinations it conducted as part of its Supervision Initiative...

SEC Charges Investment Advisor with Defrauding Clients by Failure to Disclose Conflicts of Interest

One of the more complicated aspects of fiduciary responsibility rests with a firm's ability to adequately identify and disclose potential conflicts of interest. What may not appear to be a conflict can nevertheless violate securities laws whether it be a material misstatement or omissions in reports filed with the Securities and Exchange Commission (SEC).

The CFP's Revised Code of Ethics and Standards of Conduct Takes Effect

In late March, 2018, the Certified Financial Planner (CFP) Board of Standards announced the unanimous approval of a new Code of Ethics and Standards of Conduct.

This replaces the current Code of Ethics, Rules of Conduct, and Financial Planning Practice Standards and Terminology for all CFP-licensed professionals.

Posted in Disclosures
Deer Creek Management Fined $5 Million for Non-Compliant Valuation of Fund Assets

The proper valuation of client assets is of critical importance for investment advisers. A failure on the part of firms to properly value assets adversely affects key areas of fund operations, including but not limited to: Over or under...

Illegal Trading Based on Insider Information: Nevada Man Charged

The Securities and Exchange Commission (SEC) announced it had settled charges against Brian Fettner, a Nevada resident, who illegally obtained and later made trades based on sensitive "insider" information he discovered while staying at the residence of a long-time...

Affinity Fraud Targeting the Israeli-American Community Halted by SEC

Affinity fraud occurs when a perpetrator takes advantage of religious or ethnic communities, language minorities, senior citizens, or other identifiable groups. 

Trading Suspensions -- The Causes and Effects

The Securities and Exchange Commission ("SEC") recently released an investor bulletin to educate investors about trading suspensions...

Voya Financial Advisors, Inc. -- System Glitch Reveals Broker's Information

Cybersecurity and information security protocols have become industry-wide priorities, both to the regulatory bodies that oversee our business practices and to the customers who trust that firms' policies and procedures are up-to-date and robust. This same principle extends also...

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