Need help navigating the SEC’s 2022 exam priorities? Get our insights here.

On March 3rd, the SEC released its examination priorities for 2021. Here’s what they called out:

All states except New York have long had an individual registration requirement for investment adviser representatives (IARs). But that’s about to change.

Recently, we’ve heard from several new and established investment advisers about launching a closed-end interval fund. These funds are alternative investments and a hybrid between mutual funds and traditional closed-end funds. We’re helping a few asset managers with these products, and the same is true for our business partners at the law firm, Practus, LLP.

1961, Was it really a "good year?" Some of us couldn’t say for sure since we weren’t even born yet!  For those of us that were, gas was about 27 cents/gallon.  John F. Kennedy was President and about to deal with the "Bay of Pigs" debacle which would tarnish his first year in office.  East German authorities closed the border between East and West Berlin and construction of the Berlin wall would commence.  Pampers were introduced as the world’s first disposable diaper.  Oh, and the Securities and Exchange Commission published the first rule on advertising!

Financial firms, including broker-dealers and registered investment advisers, are at a high risk of cybersecurity attacks primarily because they control both their own data and the sensitive data related to clients.