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: Third Party Service Provider
SEC Enforcement Action: Investment Adviser Fails to Disclose Affiliate Broker-Dealer Conflicts of Interest
March 14, 2017
The U.S. Securities and Exchange Commission (“SEC”) issued an enforcement action recently against an investment adviser firm for its alleged failure to disclose fee sharing arrangements that the investment adviser firm entered with its third-party broker dealer. The investment adviser firm consented to the order without admitting or denying the SEC findings, except as specified within the SEC’s Order. Click here to read the full SEC Order Instituting Administrative and Cease-And-Desist Proceedings.
