With the growing use of artificial intelligence (AI) in financial markets, broker-dealers and investment advisers need to pay attention to the risks posed by AI on firms’ compliance with federal securities laws. While machine...more
11/14/2023
/ Algorithms ,
Artificial Intelligence ,
Broker-Dealer ,
Compliance ,
Conflicts of Interest ,
Data Privacy ,
Discrimination ,
Financial Markets ,
Fraud ,
Investment Adviser ,
Machine Learning ,
Market Manipulation ,
Popular ,
Securities and Exchange Commission (SEC) ,
Software
On February 26, 2021, the SEC’s Division of Examinations issued a Risk Alert signaling an exam focus this year on activities of investment advisers, broker-dealers, exchanges, and transfer agents related to Digital Asset...more
3/5/2021
/ Anti-Money Laundering ,
Broker-Dealer ,
Conflicts of Interest ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Investment Adviser ,
Offerings ,
Registration Requirement ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Transfer Agents
On January 6, 2021, the Division of Examinations (“Division”) issued a Risk Alert to notify investment advisers, broker-dealers, and other market participants of a recent action relating to investments in securities...more
1/11/2021
/ American Depository Receipts (ADRs) ,
Broker-Dealer ,
China ,
Divestment ,
Executive Orders ,
Global Depositary Receipts (GDRs) ,
Index Funds ,
Investment Adviser ,
Mutual Funds ,
Office of Foreign Assets Control (OFAC) ,
Risk Alert
Enforcement -
AXA Prevails in Excessive Fee Trial -
Beware of Failing to Properly Disclose Fees and Assess Adequate Penalties -
Non-Enforcement -
Business Continuity Planning -
SEC Rule Designed to...more
Non-Enforcement Cybersecurity Is At the Top of SEC Examination Concerns In a recent SEC “risk alert” for registered broker-dealers and investment advisers, the SEC’s Office of Compliance Inspections and Examinations (OCIE)...more
10/1/2015
/ Blue Sky Laws ,
Board of Directors ,
Broker-Dealer ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Derivatives ,
Disclosure Requirements ,
ETFs ,
Free Identity Theft Protection ,
Hackers ,
Investment Portfolios ,
Liquidity Risk Management Rule ,
Mutual Funds ,
NAV ,
New Guidance ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Proposed Regulation ,
Registered Investment Advisors ,
Regulation S-P ,
Remedial Actions ,
Reporting Requirements ,
Risk Alert ,
Risk Assessment ,
Risk Management ,
Sanctions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Senior Managers ,
Servicing Agreements ,
Share Redemption ,
Shareholder Distributions ,
Swing Pricing
Non-Enforcement - States are Accommodating Crowdfunding Offerings While the SEC Continues to Ponder Crowdfunding Rules -
The SEC first proposed rules in October 2013 for the crowdfunding exemption which was included in...more
8/3/2015
/ Accountants ,
Asset Valuations ,
Auditors ,
Broker-Dealer ,
Civil Monetary Penalty ,
Crowdfunding ,
Department of Labor (DOL) ,
Fee Disclosure ,
Fiduciary Duty ,
Hedge Funds ,
Investment Company Act of 1940 ,
Investors ,
JOBS Act ,
Private Equity Funds ,
Public Pension ,
Securities and Exchange Commission (SEC)
Non-Enforcement Advisers to Private Funds Among Targets of the SEC’s 2015 Examination Program The U.S. Securities and Exchange Commission (SEC) recently announced the 2015 examination priorities for its Office of Compliance...more
SEC Proposes Extension of Principal Trade Rule for Registered Advisers/Broker-Dealers -
The SEC has proposed extending to December 31, 2016, the sunset date for the expiration of Rule 206(3)-3T (the “Rule”) under the...more
As reported in the May 2014 edition of Legal News: Investment Management Update, the SEC has made cybersecurity readiness a high-priority item to review when it conducts examinations of registered broker-dealers and...more
7/1/2014
/ Affiliated-Business Arrangements ,
Affiliates ,
Broker-Dealer ,
Cybersecurity ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Investment Adviser ,
Retaliation ,
Sanctions ,
Securities and Exchange Commission (SEC)