In the U.S., the Securities and Exchange Commission (SEC) has signaled a clear shift in focus and prioritization. Recent commentary from SEC Chair Gary Gensler indicates that the agency will likely push forward with an aggressive rulemaking agenda.
"The SEC’s Enforcement Division is the cop on the beat for America’s securities laws…As these results show, we go after misconduct wherever we find it in the financial system, holding individuals and companies accountable, without fear or favor, across the $100-plus trillion capital markets we oversee." - Chair Gary Gensler, 2021 Division of Enforcement Annual Report
These tips are intended to help you ensure a smooth process to prepare your Form ADV update.
Key considerations for compliance with the SEC and FCA.
The SEC gave asset managers a sweet surprise in the form of extra time to comply with SEC Rule 13f-2 and Form SHO filings.
Asset managers are turning to GP-led secondary transactions, or continuation funds, to navigate high interest rates and limited liquidity. This growing practice helps manage illiquid assets but has raised SEC concerns over conflicts of interest and investor risks.
The SEC recently brought an enforcement action against a former registered investment adviser for making AML misrepresentations to investors.
Firms must demonstrate to the regulator that they have a reasonably-designed, proactive program in place.
Join us for a special live Consultant's Corner webcast where we'll discuss what firms should know about the recent deficiencies uncovered in private fund manager examinations.
Our surveillance, compliance, and technology experts will discuss the latest client communication trends in the financial industry and what solutions are available to monitor and archive those communications.
Hear from ACA’s Carlo di Florio, Mike Pappacena, and Liam Jaris as they unpack the SEC’s proposed cyber rules and amendments and describe how they can affect private fund managers.