In the last five years, the SEC observed a 70% increase in the value of private fund assets. More than 5,000 SEC-registered advisers currently manage approximately $18 trillion in private fund assets, according to the Risk...more
Key Takeaways:
..On November 10, 2021, the SEC released a Risk Alert which provides observations from recent examinations into advisers’ fee calculations.
..In yet another bleak report, the SEC declared that “most”...more
Garcia Case Highlights Necessity of Knowing Your Customer and Listening to Internal Fraud Watchdogs.
The SEC’s recent Order against a broker-dealer (the “Firm”) imposed a $750,000 financial penalty for the Firm’s failure...more
10/21/2021
/ Anti-Money Laundering ,
Consent Order ,
Enforcement Actions ,
Enforcement Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Investment Adviser ,
Know Your Customers ,
Petition for Writ of Certiorari ,
Risk-Based Approaches ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Suspicious Activity Reports (SARs) ,
Unregistered Brokers
In a troubling recently-released Letter of Acceptance, Waiver and Consent (“AWC”), FINRA fined three Cetera Firms a total of $1,000,000 for failing to conduct the appropriate suitability review and to otherwise satisfy their...more