U.S. Regulatory Update – January 2023 Edition

We hope 2023 is off to a great start for you! In the January 2023 edition of the ACA Regulatory Update, we discuss the latest Risk Alert from the U.S. Securities and Exchange Commission's (SEC’s) Division of Examinations about firms failing to comply with Regulation S-ID, the Department of Labor's (DOL’s) change of heart on environmental, social, and governance (ESG) for plan investments, and the SEC’s rule proposals to fundamentally change the equity markets. We also explore proposed changes to the mutual fund liquidity risk management rules.

Download to read our unique insights and guidance, as well as our checklist of important dates for the month of January.

This edition, includes articles such as: 

• News for All Firms 
  • Risk Alert – Observations from BD and IA Compliance Examinations Related to Prevention of Identity Theft Under Regulation S-ID 
  • DOL to Allow for ESG Considerations in Plan Investments 
  • FINRA Retiring OFAC Search Tool in the New Year 
• News for Broker-Dealers 
  • The SEC Just Keeps Giving – New Rule Proposals 
• News for Mutual Funds 
  • Proposed Rule: Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting 
• News for Private Fund Advisers  
  • NFA Notice to Members 1-25-22: Guidance on the annual affirmation requirement for entities currently operating under an exemption from CPO or CTA registration 
• Lessons Learned 
  • Actions speak louder than words – SMA & Fund Adviser settles for mismatched ESG investment research activities with policies & procedures 
  • Blatant Disregard for Compliance - RIA & Dual-Hatted CCO Fined For Lack Of Tailored Policies And Procedures

Download

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.