Red Flags: How to Prepare Your Team for an SEC Visit

The financial securities industry has an ever-changing regulatory environment. That’s why it’s critical that advisors are proactive about keeping up with the latest regulations, anticipating their implications for real-world scenarios, and understanding how to meet the expectations of the U.S. … Read More

Important Actions to Take When Responding to an SEC Deficiency Letter

A deficiency letter from the SEC isn’t the end of the world. A significant majority of firms find one in their mail months after examiners have come and gone. The most SEC common findings include compliance shortcomings related to the protection of senior investors, business continuity plans, and cybersecurity. … Read More

The Most Common Outcomes from an SEC Examination

Compliance officers and senior management tend to express relief once the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations (“EXAMS”) ends its preliminary exit interview of their firm. Even if you’ve provided all requested documentation and answered all questions confidently, sometimes the most excruciating part of the exam process begins once SEC staff walks out your door.… Read More

Understanding Elements the SEC is Trying to Identify During an Examination

Undergoing a visit and/or an examination from the U.S. Securities and Exchange Commission (“SEC”) can be daunting, confusing, and draining. Firms throughout the industry are told that preparation is vital to successful SEC interactions, but how do you know what to prepare for? What steps do you need to take to minimizing the chances of your firm not receiving a deficiency letter with a long list of infractions. … Read More