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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ComplianceAlert

SEC Releases New Rules Agenda

The SEC has released an updated rulemaking agenda for this year. New Chairman Gary Gensler has been in office a few months now and is beginning to put his stamp on the Commission. As part of that, the rulemaking agenda has been updated to address recent concerns of the SEC. The new list of rules…

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ComplianceAlert

SEC Tackles ESG Investing and Compliance

The SEC’s Division of Examinations (EXAMS) issued a key Risk Alert (the “Alert”) that tackles the thorny compliance issues surrounding ESG (Environmental, Social, and Governance) investment themes. EXAMS has conducted reviews of RIAs and funds that follow ESG strategies and compiled a list of both positive and negative findings from those examinations. RICS (Registered Investment…

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ComplianceAlert

SEC Rules to be Revisited in 2021

The SEC has published its list of rules that it will revisit pursuant to Section 610 of the Regulatory Flexibility Act (“RFA”). The majority of the rules listed affect registered investment advisers and are on the agenda for review this year. Under the RFA, specific consideration must be given to the following factors when assessing…

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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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