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
This case should give pause to firms of all sizes to evaluate what they are doing to proactively detect potential market abuse on their own.
The SEC’s recent vote to adopt the Private Fund Adviser Rule (IA-5955) presents some of the most significant private funds regulatory reform since the Dodd Frank Act. Read our summary of the Final Rules and our guidance for firms.
The public has weighed in on the SEC's proposed Rule 206(4)-9, which sets cybersecurity risk management expectations for investment firms. In this guide, we discuss the industry's reaction, exploring the main areas of concern for the Rule.
The U.S. SEC has charged 11 financial firms for failing to maintain electronic communications, imposing penalties of over $289 million. This is part of a broader crackdown, with previous cases involving similar charges and penalties exceeding $1.5 billion, raising industry concerns about proper recordkeeping.
There has been a rise in 506(c) general solicitation offerings due to factors such as shifts in SEC's attitude and increased enforcement of 506(b) rules.
This edition includes updates to the SEC’s rulemaking calendar, recent money market fund reforms, FINRA's recent financial reports, and more.
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.