SEC to revisit advertising rules with modernization in mind, but Amy Lynch sees challenges (IGNITES – Subscription Req’d)

The SEC wants to review and update its advertising and solicitation rules to give them a refresh for today’s innovation and technological advances. According to FrontLine Compliance President Amy Lynch, the SEC should tackle three important issues that need greater clarity: presentation of performance data, social media marketing and online solicitations. Ms. Lynch further comments…

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Amy Lynch on common adviser pitfalls with fees (InvestmentNews)

A recent risk alert issued by the SEC indicates that the regulator has a renewed focus on how advisers are charging their clients. In the alert, the SEC cited a number of deficiencies related to fees that were uncovered during exams. Founder and President Amy Lynch states that firms should be on notice that the…

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ComplianceAlert

Summary of SEC’s Outreach Seminar

On April 12, 2018, the Office of Compliance Inspections and Examinations (“OCIE”) hosted its annual Compliance Outreach Program National Seminar for Investment Adviser and Investment Company Senior Officers (the “Seminar”). The annual Seminar is held at OCIE headquarters in Washington, DC and is attended by a limited number of industry representatives, each approved by SEC…

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ComplianceAlert

SEC Issues Alert on Advisory Fees and Expenses

Today the Office of Compliance Inspections and Examinations (OCIE) issued another National Exam Program Risk Alert (the “Alert”). The Alert focused on the findings from 1,500 adviser examinations conducted over the past two years. Of concern from those examinations, OCIE staff found that many firms failed in some way regarding the application or disclosure of…

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Amy Lynch comments on demand for more transparency from investment consultants (FundFire – Subscription Req’d)

The SEC and money manager clients have raised the bar for investment consultants to provide greater transparency, especially as it relates to their compensation that could create conflicts of interest and prevent impartiality. Founder and President Amy Lynch sees consultants now adding more language to their ADVs about their gifting policies. She notes that adding…

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