ComplianceAlert

2021 SEC Examination Priorities Released

The day after SEC Chair nominee Gary Gensler’s confirmation hearing, the Division of Examinations (“EXAMS”) issued its 2021 Examination Priorities letter (“the Letter”). The Letter shares similarities to the 2020 exam priorities with a few twists. In this ComplianceAlert, we focus on the Staff’s priorities for registered investment advisers and especially how they may differ…

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New advertising rule puts onus on firms to monitor social media (IGNITES)

When the SEC’s new advertising rule becomes effective, all eyes will be on social media activity of firm employees. As the use of social media has proliferated and become intertwined with business practices, the rule seeks to address that concern by requiring firm policies to clearly define how social media is to be used. But,…

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Amy Lynch on point in live “Squawk on the Street” interview (CNBC)

Joining CNBC’s “Squawk on the Street” for another interview, FrontLine’s Founder and President Amy Lynch discusses what may be behind the latest volatility of GameStop shares. Ms. Lynch presents a “fascinating thesis” according to the CNBC host, and makes the case that the most recent price surge is connected to a pattern of institutional trading…

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SEC’s upcoming message to private equity: you’ve got our attention (The Wall Street Journal)

A new SEC is expected to carry a mandate with an expansive enforcement process that could have a heavy focus on private equity firms. SEC chair nominee Gary Gensler would likely return the regulator to pursuing “message sending” and “headline making” enforcement cases of large fines. Private equity would seem to be an industry with…

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Biden’s SEC will seek greater transparency for investors (BARRON’S)

Investors with an SEC under Biden’s watch should benefit from greater regulatory protections, access to new markets, and disclosures by investment firms to help better measure risks. Areas ripe for SEC action include ESG disclosures, cryptocurrency regulation, proxy rules more favorable to shareholders, and scrutinizing online trading and its associated GameStop like market volatility. Expect…

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