Last week’s release of both a new SEC rule proposal and Risk Alert aimed at private funds have the industry wondering if a more heavy-handed SEC lies ahead. The release of the rule proposal followed by the Risk Alert is not by accident, states Amy Lynch, FrontLine’s Founder and President. The rule proposal would require…
After being relatively quiet on private funds in 2021, the SEC is now quickly increasing its attention to regulation for these firms. Several areas of focus appear to be on the SEC’s radar, including disclosures, guidance on fee arrangements, conflicts of interest in side letters and potentially ESG “green washing” issues. Amy Lynch, FrontLine’s Founder…
A hack into a business communications company set off alarms at two brokerage firms that rely on the company for printed communications, payment processing and mailings. The cyber intrusion of RR Donnelley earlier this month caused disruptions for customers of Vanguard and Fidelity. It could lead to regulatory attention if the broker-dealers’ monthly account statements…
Firms should begin preparing now for heightened Regulation Best Interest (Reg BI) oversight. The SEC has already stated that during exams in 2021 it identified non-compliance with Reg BI and Form CRS. This type of statement from the SEC would seem to foreshadow enforcement actions for 2022, explains Amy Lynch, FrontLine’s Founder and President. Ms….
Regulation that’s on tap for 2022 is pushing firms to review and update their compliance programs early this year. Regulators, including the SEC and FinCEN, are unveiling new initiatives targeting compliance with cybersecurity, AML, board diversity and ESG disclosures. With ESG regulation a top priority, SEC Chairman Gary Gensler has authorized a review of how…