13F proposal underscores weight of SEC workload (ETF.com)

With the comment period ending, some are questioning the rationale behind the SEC’s 13F proposal. While a huge compliance and cost burden would be removed from smaller equity managers, Amy Lynch, FrontLine’s Founder and President, sees an over-stretched SEC that cannot keep up with the ever-increasing volume of 13F filings. Aside from alleviating the SEC’s…

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FrontLine’s alert on industry cybersecurity threat profiled (Security Magazine)

FrontLine Compliance’s recent alert details the SEC’s concern with a type of hack known as “credential stuffing,” identified by the regulator during exams of firms. This cyber-attack involves stolen credentials, which are used to log into web-based systems of firms to access client funds. Firms need to be aware of this new risk type and…

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ComplianceAlert

New Cybersecurity Threat Identified by OCIE

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently issued a Risk Alert (the “Alert”) discussing cybersecurity observations from its examinations over time. The Alert did not state the time period of examinations included; however, OCIE has conducted several cybersecurity targeted exams over recent years. OCIE is concerned with an increase in a particular…

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Reg BI presses for changes…and product offerings, fees evolve (IGNITES)

Firms now under Reg BI and its increased scrutiny are scaling back product offerings and making modifications to fees and compensation. Founder and President Amy Lynch sees this as as a move toward more standardization for the industry, particularly in the way fund shares will be offered. Ms. Lynch comments that firms are now focused…

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Gifts and entertainment polices under review in virtual environment (FundFire)

Tracking employees adherence to their firm’s gifts and entertainment policies has become more challenging during the COVID-19 pandemic, where virtual events have become the norm. Amy Lynch, FrontLine’s Founder and President, states that pre-pandemic, firms could more easily monitor employees, with direct reporting to compliance within an office environment. Ms. Lynch adds that while there…

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