New York Finally Requires Investment Adviser Representatives to Register

Jan 27, 2021 9:09:49 AM / by Joot posted in Investment Advisers, New York

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

Read More

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

Read More

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.

Read More

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.

Read More

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)

Read More

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.

Read More

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.

Read More

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

Read More

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

Read More

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

Read More

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.

Read More

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.

Read More

Subscribe to Email Updates