Blog – Ascendant Compliance https://www.ascendantcompliance.com Ascendant Compliance Management is a leader in the compliance and regulatory services industry, offering personalized, comprehensive compliance services for firms in the U.S. and abroad. Wed, 12 Dec 2018 20:39:47 +0000 en-US hourly 1 A New View of How Technology Will Change the Emerging Crytpo-Economy https://www.ascendantcompliance.com/blogs/a-new-view-of-how-technology-will-change-the-emerging-crytpo-economy/ Tue, 04 Dec 2018 20:31:31 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4282 Continued]]> From the top of the world, it’s amazing what you can see. I recently had the opportunity to travel to the United Arab Emirates to speak in Dubai at the 7th Edition of the Alternative Investment Management Summit. While I was there, I took a few moments to ride to the top of the Burj Khalifa, currently the tallest building in the world, and the view was incredible. Other skyscrapers...

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SEC Retail Investor Focus Turns Towards Registered Investment Companies https://www.ascendantcompliance.com/blogs/sec-retail-investor-focus-turns-towards-registered-investment-companies/ Mon, 12 Nov 2018 14:26:13 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4240 Continued]]> Earlier this year when the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced its 2018 examination priorities, OCIE stated that a core priority was to protect retail investors, including seniors and individuals saving for retirement. OCIE is now continuing this effort by focusing on mutual funds and exchanged-traded funds (together, the “Funds”) as the vehicles in which...

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SEC Alerts Investment Advisers to Review Solicitor Arrangements https://www.ascendantcompliance.com/blogs/sec-alerts-investment-advisers-to-review-solicitor-arrangements/ Fri, 09 Nov 2018 17:27:32 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4221 Continued]]> On October 31, OCIE issued a new Risk Alert for investment advisers with solicitor arrangements. The SEC periodically releases risk alerts to notify the industry of deficiencies they are finding during examinations, and this latest alert puts investment advisers with solicitor arrangements on notice to check their solicitor agreements, policies and procedures, and disclosure documents.

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Pennsylvania Sounds Warning Bell Over Client Credentials and Custody https://www.ascendantcompliance.com/blogs/pennsylvania-sounds-warning-bell-over-client-credentials-and-custody/ Thu, 01 Nov 2018 11:05:22 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4204 Continued]]> The Pennsylvania Department of Banking and Securities (PDOBS) has indicated in recent guidance two concerns related to investment advisers using client credentials to access a custodial account(s). In the letter dated September 25, 2018, PDOBS indicates that the use of client credentials may create custody and is considered to be a dishonest and unethical practice. First, PDOBS notes the same...

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San Diego 2018 Conference Gallery https://www.ascendantcompliance.com/blogs/san-diego-2018-conference-gallery/ Mon, 22 Oct 2018 12:00:12 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4071 Ascendant/CSS San Diego Conference Another compliance conference is in the books. We had a great time in San Diego, and we think our attendees did, too. We hope to see you in Miami! (Click on photos to view full size.)...

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Advertising Issues: SEC and GIPS Performance in the Private Fund Space https://www.ascendantcompliance.com/blogs/advertising-issues-sec-and-gips-performance-in-the-private-fund-space/ Thu, 18 Oct 2018 12:00:20 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4152 Continued]]> Over a year ago, OCIE released the Risk Alert, “The Most Frequent Advertising Rule Compliance Issues Identified in OCIE Examinations of Investment Advisers.” While the alert highlighted several areas where performance advertising is involved, our recent CSS/Ascendant conference panelists in a session entitled “Best Practices for SEC and GIPS Performance in the Private Fund Space” noted that it is...

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From Wall Street to Main Street: Update on Standard of Conduct for Investment Advisers https://www.ascendantcompliance.com/blogs/from-wall-street-to-main-street-update-on-standard-of-conduct-for-investment-advisers/ Wed, 17 Oct 2018 12:00:16 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4143 Continued]]> Retail investors are confused! They fundamentally cannot differentiate between a broker-dealer and an investment adviser. And that has the SEC concerned. So when the DOL Fiduciary Rule was overturned earlier this year, the SEC stepped into the debate with its April proposal. And that was a key topic of discussion at the recent CSS/Ascendant fall conference, “Decrypting Regulations:

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Placing Ethics and Compliance in the Foreground of Business Decision-Making https://www.ascendantcompliance.com/blogs/placing-ethics-and-compliance-in-the-foreground-of-business-decision-making/ Tue, 16 Oct 2018 12:00:49 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4133 Continued]]> Thinking about how to make ethics and compliance part of a business’s decision-making can prove to be challenging. By nature, compliance professionals are often results-oriented, focusing on a binary end-result; either you are in compliance, or you are not. That focus is important, but emphasizing process is also vital, John Walsh, Partner at Eversheds Sutherland (US) LLP, told attendees at the...

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What Am I Looking At? Making Sense of Your Cyber Testing Reports https://www.ascendantcompliance.com/blogs/what-am-i-looking-at-making-sense-of-your-cyber-testing-reports/ Mon, 15 Oct 2018 12:00:48 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4129 Continued]]> It’s no surprise that Compliance and IT do not speak the same language. Compliance staff often speak in terms of regulations and policies, whereas bits and bytes are the language of IT staff. This distinction is clear when it comes to cybersecurity risk management, as the compliance and IT audiences are looking for different takeaways when reviewing cybersecurity testing reports, according to E.J.

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It Takes a Village – Preparing for a Regulatory Exam https://www.ascendantcompliance.com/blogs/it-takes-a-village-preparing-for-a-regulatory-exam/ Fri, 12 Oct 2018 12:00:01 +0000 https://www.ascendantcompliance.com/?post_type=blogs&p=4125 Continued]]> Advanced planning for a regulatory exam remains a vital step in ensuring the compliance team is prepared when the exam teams comes knocking. At the recent Ascendant/CSS fall conference in San Diego, Allison Fraser moderated the conference’s capstone session on the topic, joined by Bryan Bennett, the Associate Regional Director in the examination program in the SEC’s Los Angeles regional office.

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