U.S. Regulatory Update – December 2022 Edition

Welcome to the ACA Regulatory Update - December Edition. This month, we discuss the SEC’s Division of Enforcement’s 2022 annual report, FINRA’s recent sweep of crypto-related communications, recently adopted mutual fund rules, and address compliance concerns for real estate fund managers when interest rates rise. We also discuss lessons from recent SEC settlements for failure to supervise, improper cross and principal trades, and failure to take “reasonable steps” to confirm accredited investor status.  

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

This edition, includes articles such as: 

• News for All Firms 
  • Just in Time for Christmas - SEC Announces Record Year for Enforcements 
  • The CRD/IARD 2023 Renewal Process Continues 
• News for Investment Advisers 
  • SEC’s Outreach Program for Advisers and Funds 
• News for Broker-Dealers 
  • FINRA Proposes Extending Remote Inspection Relief 
  • Celebrate the New Year by Registering for Continuing Education Classes! 
  • FINRA Announces Sweep of Crypto-Related Retail Communications 
• News for Mutual Funds 
  • Proxy Voting Disclosures Required by Registered Funds and Institutional Investment Managers 
  • A Facelift for Mutual Fund & ETF Shareholder Reports - More Transparency for Fees in RIC and BDC Advertisements 
• News for Private Fund Advisers – Focus on Real Estate 
  • Prepare for Compliance Risks as Real Estate Markets Shift 
• Lessons Learned 
  • Adviser and Founder Fail to Supervise Criminal IAR 
  • Self-Reporting and Remediation Help Soften the Blow 
  • The Dangers of Using YouTube to Solicit Investors 

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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 advisory, 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.