Compliance and Consulting

Recent SEC Rule Proposal Changes and Additions

On February 9, 2022, the SEC proposed new rules and amendments that will have an impact on investment advisors, funds, and what is received by certain investors.

SEC Proposes New Rules on Private Funds to Protect Investors

There are 5,037 registered private fund advisors in a $18-trillion marketplace…more

Risk Alert from Examinations of Private Fund Advisors

On June 23, 2020, the SEC’s Division of Examinations (“EXAMS”), which mainly focuses on private funds, published a Risk Alert entitled the “2020 Private Fund Advisor Risk Alert.” The alert details observations made by EXAMS staff of registered investment advisors that manage private funds.

The goal of the SEC…more

SEC Proposes Private Fund Reporting Changes

In what appears to be a response to continued evolvement and growth of the private fund industry, on January 26, 2022 the SEC proposed amendments to Form PF which would require reporting of certain events as well as lower the threshold for large private equity advisers.

Form PF was originally…more

Beware Phony FINRA Phishing Schemes

There has been a recent wave of cybercriminals impersonating the Financial Industry Regulatory Authority (FINRA). Because organizations strive to be compliant with regulations, receiving an email from FINRA can be quite startling and cause recipients to inadvertently fall for the scam.

In this FINRA-themed phishing email, the sender’s…more

SEC Modernizes the Accredited Investor Definition

On August 26, 2020, the Securities and Exchange Commission (SEC) adopted amendments to its “accredited investor” definition. Its goal was to simplify and improve the framework to allow investors who have been denied eligibility in the past to qualify based on their knowledge, expertise, or certification, in addition to certain…more

OCIE 2020 Cybersecurity and Resiliency Observations

Cybersecurity is the practice of protecting networks, devices, and data from unauthorized access or criminal use. Today, everything relies on computers, no industry is immune, and the volume of data and availability of information puts firms and capital markets at risk each day.

Importance of Information Security

For the eighth…more

OCIE 2020 Examination Priorities

On January 7, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) announced its 2020 Examination Priorities. For the past 8 years, OCIE has released its examination priorities on an annual basis. Examination priorities highlight where OCIE will focus its resources as it continues to…more

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