The SEC announced the schedule for Compliance Outreach Program regional seminars it is sponsoring in six cities later this year. The seminars are jointly sponsored by the SEC’s Office of Compliance Inspections and Examinations, Division of Investment Management, and Division of Enforcement’s Asset Management Unit. The events provide an opportunity for SEC staff to share information about...Read more
The SEC and FINRA issued a report to help broker-dealers assess, craft, or refine their policies and procedures for investors as they prepare for and enter into retirement. The National Senior Investor Initiative report includes observations and practices identified in examinations that focused on how firms conduct business with senior investors. The examinations by the...Read more
The SEC Division of Investment Management has identified the cybersecurity of registered investment companies (“funds”) and registered investment advisers (“advisers”) as an important issue. The SEC recommends considering these three main areas to address cybersecurity risk.Read more
- Conducting a periodic assessment of threats.
- Creating a strategy that is designed to prevent, detect and respond to cybersecurity threats.
- Implementing the strategy through written...
The Financial Industry Regulatory Authority (FINRA) announced that it has sanctioned three firms with fines of $425,000, $175,000 and $100,000 for inadequate supervision of consolidated reports provided to customers and other violations. A consolidated report is a single document that combines information regarding most or all of a customer's financial holdings, regardless of where those...Read more