Two recent SEC enforcement actions serve as a sharp reminder that Chief Compliance Officers (CCOs) can face personal liability for what they do – or fail to do – in the course of regulatory examinations for registered...more
8/15/2025
/ Chief Compliance Officers ,
Compliance Management Systems ,
Corporate Counsel ,
Enforcement Actions ,
Investment Advisers Act of 1940 ,
Personal Liability ,
Policies and Procedures ,
Recordkeeping Requirements ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On March 19, 2025, the Securities and Exchange Commission (SEC) staff issued an update to its frequently asked questions (FAQ) guidance with respect to registered investment advisers’ compliance with Rule 206(4)-1 (Marketing...more
During an open meeting on Wednesday, August 23, 2023, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) voted 3-2 along party lines to adopt new rules (collectively referred to as the “Private Funds...more
8/29/2023
/ Audits ,
Borrowing Statutes ,
Capital Markets ,
Clawbacks ,
Compliance ,
Dodd-Frank ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Private Funds ,
Proposed Amendments ,
Proposed Rules ,
Securities and Exchange Commission (SEC)
On June 8, 2023, the Securities and Exchange Commission’s (“SEC”) Division of Examinations (“Division”) released a risk alert (the “Risk Alert”) outlining the SEC’s broadened examination priorities with respect to revised...more
7/19/2023
/ Advertising ,
Compliance ,
Endorsements ,
Form ADV ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Marketing ,
Policies and Procedures ,
Risk Alert ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Testimony
An investment adviser’s investment track record is an important resource when raising capital from prospective investors. However, investment advisers, particularly registered investment advisers or emerging fund managers,...more