SEC Is Now Requiring An Investment Adviser to Document Annual Compliance Review In Writing

August 25, 2023

SEC Initiates Enforcement Action Against Investment Adviser for Use of Personal Text & Message Applications

August 08, 2023

Enforcement Alert

SEC Proposes Rule for Use of Predictive and Artificial Intelligence Technology by Investment Advisers

August 02, 2023

Regulatory Watch

The U.S. Securities and Exchange Commission (“SEC”) has proposed Rule 211(h)(2)-4 which requires an investment adviser registered with the SEC to address conflicts of interest that arise from the use of covered technologies which optimize, predict, guide, forecasts, or directs investment-related behaviors or outcomes.

Regulatory Watch – Proposed Change to SEC Rule for Internet-Based Investment Advisers

July 28, 2023

SEC Proposes Amendments to Internet Adviser Exemption

SEC Guidance on Client Testimonials and Third-Party Endorsements

July 27, 2023

Common Deficiencies of Newly Registered Investment Advisers

April 14, 2023

In a recent Risk Alert by U.S. Securities and Exchange Commission (“SEC”), the Examination Division identified several common issues among newly registered investment advisers (also referred as RIAs): (1) compliance policies and procedures; (2) disclosures and filings; and (3) marketing. Although these findings are based upon examinations of federally registered investment advisers, it’s our experience that newly state registered firms have similar issues.

SEC Issues Investment Adviser Exam Priorities for 2023

February 16, 2023

SEC-Proposes-Amendements-to-Form-PF

SEC Charges Investment Adviser for Alleged Misstatements About ESG Investing

May 24, 2022

ESG Investment Adviser

Will Your Investment Adviser’s Use of an Outsourced CCO Survive Regulatory Scrutiny?

January 11, 2022

Although many investment adviser firms desire to outsource the chief compliance officer role to an unaffiliated third-party independent contractor (“Outsourced CCO”), such an arrangement will be scrutinized and could be challenged by the securities regulator as a violation Rule 206(4)-7 or equivalent rule of the state securities regulator depending upon the facts and circumstances.

SEC Raises Qualified Client Threshold

September 08, 2021

The U.S. Securities and Exchange Commission (“SEC”) recently finalized revisions to Rule 205-3 under the Investment Advisers Act of 1940, raising the net worth requirements for individuals who are charged performance fees. The SEC increased the threshold requirements for “qualified clients” to account for inflation, as required by the Dodd-Frank Act and section 205(e) of the Advisers Act. The next adjustment for inflation is anticipated in 2026.