Keeping up with all of the changing rules and regulations in the compliance industry can be a full-time job. We help you by sifting through what matters and giving you the timely guidance, postings and news you need.
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…
There’s now a greater emphasis by SPACs to more carefully consider possible target companies. Amy Lynch, FrontLine’s Founder and President, comments that once the SEC started looking more closely at SPACs last year, internal compliance and legal departments shifted their attention to making sure deals would pass regulatory scrutiny. With high fees generated for banks…
The inability of a large firm to preserve and oversee employee business discussions on personal devices resulted in regulatory fines – and is now serving as a warning for the rest of the industry. The case against JP Morgan Chase & Co. that culminated in a $200 million combined total fine (SEC and CFTC) showed…
A recent case brought by the SEC reveals how easily conflicts of interest can exist when responsibilities for a fund’s operation are not adequately divided or managed. The SEC found that Upright Financial, where several small mutual funds are managed by one individual, had repeatedly miscalculated NAVs and failed to operate a fund as a…