Paradigm Shift in SEC Exams, Benefits of a Mock Exam

For investment advisers currently going through an SEC exam, the process likely bears little resemblance to exams of old. Call it the new normal, a paradigm shift, or simply the effects of the SEC having to do more with less, but anecdotal evidence among those now experiencing the exam process suggests some interesting new trends. … Continued

Social Engineering: The Weakest Link

In this ComplianceCasts Minute, we discuss the growing concerns of social engineering. What is social engineering? This non-technical method of hacking forms one of the weakest links in a firm’s security because it relies solely on human interaction. Even with state-of-the-art security in place to protect a firm, lacking the knowledge to identify and prevent … Continued

Latest Content

Past Conference Speaker Inspiration for The Rock’s Next Blockbuster

If you attended Ascendant’s 2016 San Diego conference,  you will no doubt remember our outstanding keynote speaker, Jeff Glasbrenner. Jeff is a below-the-knee amputee who was fresh off becoming the first American amputee ever to scale Mount Everest. In San Diego, he spoke about turning challenges into triumphs, and about succeeding in the face of … Continued

Relief at Last – New Guidance on Inadvertent Custody

The SEC quietly provided additional guidance to the industry about inadvertent custody in supplemental responses to the Custody Rule FAQs. In Question II.11 and II.12, the SEC stated that it would not recommend enforcement against an adviser that does not have a copy of a client’s custodial agreement, and does not know or have reason … Continued

Cayman Islands Update AML Regulations for Private Equity

The Cayman Islands has further bolstered its anti-money laundering (“AML”) and countering of terrorist financing (“CTF”) rules. The new AML/CTF rules become effective on May 31, 2018 and will affect, among others, unregulated investment entities—such as private equity firms—domiciled in the Cayman Islands. The deadline to appoint AML officers, however, is September 30, 2018 for … Continued

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