Compliance March 21st, 2023 Proposed SEC Cybersecurity Rule Requires Prompt Notice to Prevent Contagion The SEC reopened the comment period on its cybersecurity rule last week, in part so advisers can take more time...
Compliance March 20th, 2023 SEC Looks to Overhaul Regs SCI, SP The SEC’s proposed updates would expand the institutions subject to various data security requirements and strengthen data breach notification requirements.
Compliance March 17th, 2023 Complying With the Custody Rule and the New Custody Proposal Experts explained common compliance mistakes involving the custody rule and spoke to the new custody rule proposal.
Compliance March 15th, 2023 SEC Reopens Comment Period for Proposed Cybersecurity Rules The rules from the February 2022 proposal include new recordkeeping requirements, and industry actors requested more time to review them.
Compliance March 14th, 2023 Complying With SEC Marketing Rule: Don’t Say What You Can’t Prove SEC officials and compliance experts say that proving statements of fact should be at the top of advisers’ to-do list...
Compliance March 13th, 2023 SEC’s Uyeda Expresses Concern about SEC Overreach Republican commissioner specifically mentioned the new outsourcing rule, pay-to-play enforcement and compliance periods for SEC rules.
Compliance March 10th, 2023 White House Budget Proposal Increases Funding for DOL Enforcement Actions President Joe Biden’s proposal for fiscal 2024 also provides Social Security Administration, IRS with more money to improve customer service.
Compliance March 6th, 2023 Gensler Says SEC Agnostic On Green Investing, Seeks Improved Disclosure The SEC chair told a room of institutional investors that the regulator is “merit neutral” on how investors use climate-related...
Compliance February 16th, 2023 SEC Adopts Settlement Cycle Rule, Proposes New Custodial Rule The rules, adopted and proposed, respectively, by 3-2 margins, were partially informed by recent scandals.
Compliance February 15th, 2023 SEC Wants Enhanced Protections on Crypto, Other Adviser-Managed Investments The proposed changes would amend a custodial rule requiring cryptocurrency exchanges to be run by qualified custodians.
Compliance February 15th, 2023 Retirement Industry Pushes Back on SEC Swing Pricing Proposal Industry groups filed arguments saying the proposal, intended to put greater burden on “first mover” traders of open-ended funds, would...
Compliance February 8th, 2023 Trade Groups Push Back on SEC Recordkeeping ‘Sweep’ Investment associations say in a letter that the SEC is exceeding its authority by asking to access all off-channel business...
Compliance February 1st, 2023 House Passes Financial Exploitation Prevention Act to Safeguard Seniors from Fraud The bill would permit open-ended investment companies and transfer agents to delay redemption of securities if they suspect financial exploitation...
Compliance January 31st, 2023 SEC Cites Broker/Dealers for Not Meeting Reg BI Standards The SEC issued a warning after finding issues, including advisers not properly disclosing conflicts of interest or maintaining written policies.
Compliance January 26th, 2023 SEC Proposal Would Restrict Conflicted Asset-Backed Securities The proposal seeks to implement a provision in the Dodd-Frank financial reform law and would prevent asset-backed security issuers from...
Compliance January 24th, 2023 FINRA Head to Leave After More Than 2 Years in Role Jessica Hopper, head of the influential securities regulator for the brokerage industry, is stepping down in February, with Christopher Kelly...
Compliance December 30th, 2022 Advisers, Lobbyists, and Service Providers Respond to SEC Outsourcing Proposal Some call for the SEC to drop the proposal; others want clarity on which outsourcing duties should be vetted; and...
Compliance December 28th, 2022 Swing Pricing Proposal Comment Period Remains Open Until Early February The proposal has been met with criticism from those in the retirement industry.
Compliance December 16th, 2022 Senator Braun and Congressman Barr Resolve to Overturn “Woke” ESG Rule The two legislators introduced a resolution Thursday that would invalidate the DOL’s new rule permitting ESG in retirement plans. It...
Compliance December 15th, 2022 SEC Votes to Advance Trading Proposals The four proposals aim to improve competition and transparency in securities trading.