Comprehensive Training Solutions

September 03, 2020

The FCA recently added a webpage reminding solo-regulated firms of their obligation to report breaches of its conduct rules (and ensuing disciplinary action) as required under the Senior Managers and Certification Regime (SM&CR).

August 25, 2020

Throughout the lockdown, the FCA and SEC have voiced thier expectation that private information is handled appropriately and that firms maintain adequate and appropriate information barriers. Firms should revisit what is considered “private” information and how that can get a little grey and nuanced in the private markets sector.

August 18, 2020

The SEC and FINRA issued updated guidance on the characterization of U.S. broker-dealers under the Customer Protection Rule. This new guidance states that Non-Covered Firms that solely engage in Non-Covered Firm activities are no longer subject to any Rule 15c3-3 requirements.

August 14, 2020

The U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has issued a risk alert on the COVID-19-related risks, issues, and challenges faced by SEC-registered investment advisers and broker-dealers, including those resulting from the widespread use of telecommuting practices and pandemic-related market volatility.

July 24, 2020

FINRA issued Regulatory Notice 20-21 on July 1, 2020 providing guidance for complying with FINRA Rule 2210 “when creating, reviewing, approving, distributing, or using” retail communications concerning private placement offerings.

July 16, 2020

From April 20 – May 31, ACA Compliance Group, Investment Adviser Association, and BrightSphere Investment Group ran the 15th annual Investment Management Compliance Testing Survey.