Case shows that policies need monitoring and enforcement to be effective (IGNITES/Financial Times)

A breakdown of policies management and oversight led to a recent SEC action against a firm for its failure to follow its own policies on the length of time to hold a certain security in customer accounts. Fined $8.1 million to settle the case, UBS and its financial advisors purchased a volatility-linked exchange-traded product (ETP)…

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ComplianceAlert

SEC Risk Alert Issued on Prohibited Transactions

The SEC’s Division of Examinations (formerly known as OCIE) has issued a new Risk Alert (the “Alert”) on principal and cross trades for fixed income managers. More than 20 fixed income managers were examined as part of a special study on prohibited transactions (FIX Initiative) that began more than two years ago. The investment advisers…

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SEC’s first target of SPACs shows Gensler’s aggressive stance (Law360)

SEC Chairman Gary Gensler has taken his initial steps toward laying the foundation for a more aggressive regulator. The SEC has moved quickly to send a strong message to the special purpose acquisition company (SPAC) market that misleading the investing public will bring consequences. In lead comments, Amy Lynch, FrontLine’s Founder and President, states that…

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Amy Lynch featured in podcast on regulatory scope of SPACs

As the popularity of SPACs has skyrocketed, so has the regulatory scrutiny of the SEC. Covering various aspects of the recent rise in SPACs, FrontLine’s Founder and President Amy Lynch was exclusively interviewed in a recent industry podcast hosted by The Ground Up Podcast series. In the timely event, Ms. Lynch provides a detailed description…

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Compliance to adjust oversight practices with return to office policies (IGNITES)

Compliance teams may be asked to review and update their employee oversight responsibilities depending on their firm’s return to office policies. While firms are implementing office policies on COVID-19 vaccination requirements, compliance staff could suddenly find their monitoring practices must now account for many more employees in the office. Amy Lynch, Founder and President of…

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