All states except New York have long had an individual registration requirement for investment adviser representatives (IARs). But that’s about to change.
New York Finally Requires Investment Adviser Representatives to Register
Jan 27, 2021 9:09:49 AM / by Joot posted in Investment Advisers, New York
Navigating Business Continuity Plans post COVID-19: Five Issues Independent Directors Need to Consider
Jun 18, 2020 10:45:00 AM / by Peg McLaughlin posted in Investment Advisers, Cybersecurity, Covid
By: Peg McLaughlin
Business Continuity Planning: a Real-World Test
Mar 23, 2020 5:20:55 PM / by Bo J. Howell posted in Investment Advisers, Investment Managers, Brokers, Compliance Testing, Coronavirus, BCP
Ever since the SEC and other regulatory bodies (i.e., FINRA) identified the possibility of “significant business disruptions” many years ago and mandated that registrants create, maintain, and test a Business Continuity Plan (“BCP”), these plans have rarely been taken very seriously until they are needed.
SEC Provides Conditional Relief to Investment Advisers and Investment Companies Impacted By Coronavirus – But Should You Use It?
Mar 18, 2020 12:15:00 PM / by Charles Black posted in Investment Advisers, Investment Managers, SEC Updates, Coronavirus
On March 13, 2020, the SEC announced regulatory relief for investment advisers and investment companies who may be affected by the coronavirus. The SEC is recognizing that limits on travel, reduced personnel and other business disruptions as a result of the coronavirus may cause delays in meeting regulatory filing deadlines and other regulatory obligations.
Diversity & Inclusion: Steps Forward in the Asset Management Industry
Dec 12, 2019 11:40:00 AM / by Dina Tantra posted in Investment Advisers, Investment Managers, Dina Tantra, Diversity
Foreword by Bo Howell (July 2020)
Corporate Governance Update: How Delaware law interacts with federal securities law
Oct 4, 2018 8:00:56 AM / by Bo J. Howell posted in Corporate Governance, Fiduciary, Investment Advisers, Board of Directors, Compliance, Delaware law, Directors/Trustees
For many asset managers and investment companies, the topic of compliance tends to focus on federal securities, particularly Rule 206(4)-7 under the Investment Advisers Act of 1940 (the "Advisers Act) and Rule 38a-1 under the Investment Company Act of 1940 (the "Company Act"). While these rules and the SEC's guidance related to them are important, state law also plays a vital role in compliance. Delaware case law and other legal principles support the conclusion that chief compliance officers of SEC-registrants also have a fiduciary duty under state law to develop, enact, and maintain a robust compliance program.
CCO Tech Announces First Ever Compliance Automation Solution for Registered Investment Advisers
Oct 1, 2018 10:30:38 AM / by Bo J. Howell posted in Corporate Governance, Investment Advisers, Service Providers, Advisers Act, CCO Tech, Compliance, Compliance Technology, Directors/Trustees, Form ADV, CCO Technology, SEC Filing Manager, Technology
FOR IMMEDIATE RELEASE
Cincinnati, OH (October 1, 2018) - CCO Tech today announces the release of its SEC Filing Manager, the first module of an integrated web-based compliance system for small- and mid-sized registered investment advisers (RIAs). SEC Filing Manager automates the completion of Form ADV, the starting point for regulatory compliance filing for every SEC-registered investment adviser. Additional modules will soon be released to create a comprehensive compliance system.
GDPR in a Nutshell and the Titan Platform*
Sep 21, 2018 8:30:07 AM / by Michelle Morgan posted in EU, GDPR, Investment Advisers, Investment Managers, Privacy, Service Providers, Compliance, Compliance Technology, EU Regulations
Introduction to the Titan Platform – The New Kid on the Block
Sep 7, 2018 9:15:40 AM / by Michelle Morgan posted in Investment Advisers, Service Providers, Compliance, Guest Author, Michelle Morgan, Private Funds, Technology
The BIG Reveal: Welcome to the Future of Compliance
Aug 24, 2018 10:00:41 AM / by Bo J. Howell posted in Investment Advisers, Advisers Act, CCO Tech, Compliance, Compliance Technology
The Liquidity Rule Finally Takes Shape!
Jul 13, 2018 8:54:29 AM / by Bo J. Howell posted in Form N-1A, Form N-PORT, Investment Advisers, Liquidity, Liquidity classifications, Rule 22e-4, SEC Updates, Service Providers, Shareholder reports, 1940 Act, Directors/Trustees, Disclosure
In May, we discussed eight things that you needed to know about the liquidity rule in this article. At that time, we noted that part of the rule was due to take effect in December 2018 for large fund families or June 2019 for smaller fund families. The parts that were delayed until 2019 included the liquidity classifications (i.e., the buckets) and the highly liquid minimum requirement. More importantly, our third point was that the SEC would have more changes to the liquidity rule in 2018.
Did AI just result in 13 settlements?
Jul 6, 2018 7:30:55 AM / by Bo J. Howell posted in Enforcement, Form PF, Investment Advisers, SEC, Advisers Act, Artificial Intelligence, Compliance, Disclosure, Form ADV
At the beginning of June, the SEC announced settlements against 13 private fund advisers[1] for failing to provide the required information in Form PF.[2] Generally, Form PF requires information on private funds managed by investment advisers if the total assets of the private funds are over $150 million. The form, which became effective in 2012, asks for information on a private fund’s assets under management, strategy, performance, investments, and other areas. The form must be updated annually or when there is a material change to the information in the most recent filing. As stated in its orders, the SEC and other regulatory, such as the Financial Stability Oversight Council, use the information in Form PF to watch systemic risk in the private fund industry. Additionally, the SEC uses the form in regulatory exams and investigations. (Emphasis added.) The same is true for Form ADV.