Posts tagged SEC regulatory examinations.
OCIE Risk Alert—Examinations Focused on Initial Compliance With Regulation Best Interest

As firms work to prepare their updated disclosures and move toward compliance by June 30, 2020 with the new Regulation Best Interest (“Reg BI”), the Securities and Exchange Commission (“SEC”) made two important announcements.  As a reminder, Reg BI establishes a new standard of conduct for broker-dealers and their associated persons when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations) to a retail customer.

SEC Examination Focus: Four Considerations for Vendor Relationships Within Your Business Continuity Plans (BCP)

Dedicated to investor protection and still fully operational nationwide, the SEC’s Office of Compliance Inspections Examinations (“OCIE”) announced that examinations will continue via online and virtual correspondence, in their most recent updated announcement on March 23, 2020.

The 2018 SEC Exam Priorities once again listed wrap fee programs as one of their areas of focus this year. This is not unexpected, as the continued push by the SEC to protect retail investors (and the subset of senior/retiring...

While SEC Examinations can be extremely intimidating, we've found that the SEC Exam process doesn't have to be nearly as painful as many firms assume it to be....

The SEC's pay-to-play rule is more relevant than ever before in today's politically charged climate. As the management of government client assets is widespread in the realm of private equity, whether a private equity adviser is seeking its first...

It happens to every investment adviser, sooner or later. All the documentation you maintain, all the policies and procedures you put in place, it all goes under the microscope eventually. The SEC, FINRA, and the State all conduct regulatory...

Early in October, at the National Association of Municipal Advisors Conference, two attorneys with the Office of Compliance Inspections and Examinations ("OCIE") told the municipal advisors in attendance that many need to work on improving compliance procedures. To ensure...

Earlier this month, a federal jury ruled against the founder of F-Squared Investments, Howard Present, in a case that was first brought to court almost two years ago. The firm, at one time, was the largest marketer of index...

Posted in Securities Law

Preparing for regulatory examinations is a daunting prospect. If you haven't set up the policies and procedures to ensure you can handle such an exam at the drop of a hat, it becomes more than just daunting: it turns into...

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