ACA Regulatory Update - November Edition

Welcome to the ACA Regulatory Update - November Edition. This month, we highlight the SEC’s crackdown on use of unmonitored messaging apps, the approaching annual renewal cycle for registered investment advisers, investment adviser representatives, broker-dealers, and registered representatives, and the SEC’s latest rule proposal addressing due diligence on service providers.

Download to read our unique insights and practical thought leadership as well as a checklist of important dates for the month of November.

This edition includes articles such as:

• News for All Firms
  • SEC Slams Big Firms with Large Fines for Employees’ use of WeChat, WhatsApp, and Texting
  • The 2023 Renewal Program is Underway
• News for Investment Advisers
  • SEC Proposes Another Gigabyte Eating Rule Requiring Advisers to Perform Due Diligence on Service Providers
  • SEC Takes a Step to Support Diversity in the Financial Industry
  • Not All State Regulators Adopted SEC’s New Marketing Rule
  • NASAA 2022 Enforcement Report Highlights State Focus on Senior Investors
• News for Broker-Dealers
  • SEC Gets Rid of WORM and Modernizes Broker-Dealer Record-Keeping Rules
  • Will Broker-Dealers that Provide Research Need to Register as Advisers?
• News for Private Fund Advisers
  • Belt and Suspenders: SIFMA’s Sample Disclosure for Cap Intro Under New Marketing Rule
• News for Municipal Advisers
  • SEC Issues Risk Alert for Municipal Advisors
• Lessons Learned
  • Aren’t We Done Yet? SEC Wins Another 12b-1 Share Class Case
  • Don’t Set it And Forget It – Adviser Settles Over Weak Proxy Voting Practices
  • Private Funds in the Enforcement Crosshairs
  • SEC’s Data Analytic Tools Detect Cherry-Picking Scheme

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How we help

Compliance teams need continuous support and knowledge sharing to stay on top of regulatory initiatives. Our team helps you navigate the evolving regulatory landscape while considering the complexity of your firm’s unique compliance requirements.

We help our clients manage regulatory compliance, cybersecurity and risk, and performance verification through our consulting, outsourcing, and technology solutions. Our services and solutions include standard and customized compliance packages, cybersecurity and technology risk assessments, Global Investment Performance Standards (GIPS^®) compliance and other performance services, and a variety of business advisory, technology, and training solutions for financial services firms.   

Contact us if you have any further questions about these rule proposals, or how ACA can help your firm meet your regulatory requirements.