U.S. Regulatory Update – May 2023 Edition

No rest for the compliance weary as regulatory updates continue for investment advisers and broker-dealers.

Welcome to our May 2023 U.S. Regulatory Update where you will find practical thought leadership for all firms regarding the Securities and Exchange Commission’s (SEC’s) recent bulletin regarding Regulation Best Interest (Reg BI) and fiduciary standards and common-sense perspectives regarding ransomware attacks from ACA’s Chief Information Officer. 

This edition, includes articles such as: 

• News for All Firms 
  • Reg BI and Fiduciary Standard of Care Explained by SEC Staff
  • Ransomware Attacks… Perspective from ACA’s Chief Information Officer
• News for Investment Advisers 
  • Institutional Investment Managers – Start Keeping Track of “Say-on-Pay” Votes
  • SEC Reopens Comment Period on Proposed Amendments to Beneficial Ownership Reporting
  • Exempt Reporting Advisers (ERAs), Unregistered Investment Companies and State Registered Advisers Should Get Ready for Revised FTC Safeguards Rule
• News for Broker-Dealers
  • New FINRA Compliance Tools
•  Lessons Learned 
  • Form CRS Exposes Undisclosed Fees for Top Adviser
  • Hedge Fund Fined Over SPAC Conflicts
  • To Err is Human (and Machine) – Robo-adviser’s Tax Loss Harvesting Failures Highlight Regulatory Risk Associated with Flawed Automation
• Worth Reading, Listening and Watching 
• To Do Checklists for May / June 2023 

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The compliance environment has never been more complex or demanding. We can help you to navigate the evolving regulatory landscape while considering the complexity of your firm’s unique compliance requirements.   

ACA Signature is a scalable solution curated to suit your firm’s unique compliance needs. With ACA Signature, you can choose the combination of compliance advisory services,  innovative technology and managed services that is right for your firm. ACA Signature puts you in complete control of your compliance program.  

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