The U.S. Securities and Exchange Commission (SEC) has adopted amendments to Regulation S-P which require investment adviser firms registered with the SEC to adopt written policies and procedures for incident response programs to address unauthorized access to or use of customer information including procedures for providing timely notification to customers affected by an incident involving sensitive customer information.
Tag Archives: Cybersecurity
On April 18, 2022, Kentucky announced that it had adopted Senate Bill (“SB”) 298, making it the newest state to adopt an investment adviser representative continuing education (“IAR CE”) requirement, joining Mississippi, Vermont, Maryland, Michigan, and Wisconsin. Along with Michigan and Wisconsin, Kentucky’s new rule will become effective January 1, 2023. For investment adviser representatives in Mississippi, Vermont, and Maryland, an IAR CE requirement is already in effect.
Email Phishing Scam from a FINRA Imposter
April 25, 2022
It was brought recently to our attention that many of our investment adviser clients have received a suspicious email similar to the sample below. This email appears to be sent from the email domain: claims-finra.org and includes a subject line such as “Re: FINRA URGENT REQUEST FOR….”
SEC Announces 2021 Examination Priorities for RIAs
March 15, 2021
On March 3, 2021, the Division of Examinations (formerly known as the “Office of Compliance Inspections and Examinations”) of the U.S. Securities and Exchange Commission (“SEC”) released its 2021 Examination Priorities, an annual report discussing the Division of Examination’s areas of focus including investment advisers registered with the SEC (“RIAs”) for the coming year. In this report, the Division of Examinations (“Division”) noted that it intends to continue to prioritize examinations of SEC registered investment advisers, broker-dealers, and dually registered or affiliated firms, particularly those that have never been examined or have not been examined recently. In doing so, the Division will emphasize protection of retail investors and those saving for retirement.
