Regulation A Plus, FBAR And FATCA Deadlines, And Other Regulatory Filing Dates

The SEC isn’t the only agency investment advisers need to have on their radars. The IRS has extended the reporting deadline for certain FBAR filings, and reporting under the Foreign Account Tax Compliance Act (FATCA) will begin soon, now that the FATCA Portal is open for registration. Firms seeking to be included on the IRS’ … Continued

Jumping Into Advertising Under The Jobs Act, And The Sec’s Custody About-Face

With the SEC’s adoption of rules under the JOBS Act, new Rule 506(c) allows advisers to conduct general advertising and general solicitation if certain additional steps are taken. Not many firms appear to be dipping their toes in just yet, but our consultants jump right in for an immersive discussion of the rule revisions and … Continued

The Compliance Cliff: Gridlock at the SEC, and Pending CFTC and JOBS Act Concerns

While much of the nation is focused on the imminent fiscal cliff, the departure of Chairperson Mary Shapiro from the SEC has pushed advisers towards a “compliance cliff” with potential gridlock on pending rulemaking. Keith Marks and Chris Hardy explain the deadlock, and provide an update on CFTC registration concerns, exemptions, and extensions.

JOBS Act Update, SEC Examination Initiative, and Understanding the Enforcement Process

Our consultants provide a status update of the JOBS Act in which the SEC guidance is expected by Independence Day! This relaxation of the General Solicitation prohibition under Rule 506 will change the way private funds advertise and market themselves. The SEC’s Division of Risk, Strategy and Financial Innovation has a new initiative which is … Continued

Latest Content

A New View of How Technology Will Change the Emerging Crytpo-Economy

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 … Continued

SEC Retail Investor Focus Turns Towards Registered Investment Companies

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 … Continued

SEC Alerts Investment Advisers to Review Solicitor Arrangements

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. … Continued

Pennsylvania Sounds Warning Bell Over Client Credentials and Custody

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. … Continued

San Diego 2018 Conference Gallery

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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