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State of Maine Enters Into Consent Agreement with Adviser

On January 13, 2015, the State of Maine, Office of Securities, entered into a consent agreement with a Maine-licensed investment adviser and its sole investment adviser representative (“IAR”). The state made findings that the firm and its IAR: failed to provide sufficiently detailed written notice to clients of material conflicts of interests; failed to...
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Cybersecurity Reports and Advisories

On February 3, 2015, the Securities and Exchange Commission (SEC) released its Cybersecurity Examination Sweep Summary. They recently examined 57 registered broker-dealers and 49 registered investment advisers to better understand how broker-dealers and advisers address the legal, regulatory, and compliance issues associated with cybersecurity. The summary provides observations from the examinations conducted under the Cybersecurity Examination...
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