The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more
12/20/2024
/ Broker-Dealer ,
CFTC ,
Civil Monetary Penalty ,
Electronic Communications ,
Enforcement Actions ,
Instant Messaging Apps ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Mobile Devices ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
As part of its formal fiscal year (FY) 2024 priorities, the SEC's Division of Examinations identified the review of investment advisers to private funds as a key priority. Fresh off the implementation of the Marketing Rule in...more
The New Orleans-based U.S. Court of Appeals for the Fifth Circuit (Court), on June 5, 2024, vacated the new private fund rules (Private Fund Rules) adopted by the SEC in August 2023, resulting in a significant victory for...more
The U.S. Securities and Exchange Commission (SEC) is cracking down on how firms promote their artificial intelligence (AI) technologies to protect investors from falling victim to "AI-washing." On March 18, 2024, the SEC...more
4/22/2024
/ Algorithms ,
Artificial Intelligence ,
Best Practices ,
Client Data ,
Disclosure Requirements ,
Enforcement Actions ,
False Statements ,
Investment Adviser ,
Marketing ,
Misleading Statements ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Transparency
Amid ongoing federal government shutdown risks and the close of its fiscal year, the U.S. Securities and Exchange Commission's (SEC) Division of Examinations (Exams) recently announced its fiscal year (FY) 2024 priorities....more
10/26/2023
/ Anti-Money Laundering ,
Broker-Dealer ,
Clearing Agencies ,
Compliance ,
Cryptoassets ,
Cybersecurity ,
FinTech ,
Investment Adviser ,
Investment Companies ,
Market Participants ,
Regulation SCI ,
Risk Alert ,
Risk Assessment ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
SRO
As a piggyback to our prior posts on the U.S. Securities and Exchange Commission's (SEC) proposed amendments to Form PF (Jan. 21 blog and Jan. 26 blog), we now dig deeper into the Division of Examinations' (EXAMS)1 Jan. 27,...more