BoardRoom: Unusual SEC Case Proves Point

Last week the SEC announced an enforcement action against a mutual fund manager.  That was not the unusual part.  What  makes this case unique was that this money manager was a small alternative manager of open alt-funds specializing in merger arbitrage.  Also, the case was mainly about custody rule violations.  It is rare indeed to…

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ComplianceAlert

SEC AND FINRA PUSHING HARD ON CYBERSECURITY

The SEC and FINRA both released reports this week on their findings from recent sweeps and data analyses of broker-dealers and investment advisers’ cybersecurity protocols. Both reports were issued on the same day, signaling a coordinated release. However, the similarities end there. The SEC’s report is very broad and covers a macro-perspective of the issue, whereas, the…

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