Compliance August 9th, 2023 New SEC Cybersecurity Rule a ‘Business Problem,’ Not Just IT or Legal, According to Experts The new disclosure requirements for public companies will require time and resources to meet cybersecurity needs.
Compliance August 8th, 2023 SEC Charges Wells, BNP, Others With Electronic Communications Misuse 11 Wall Street firms admit wrongdoing and agree to pay $289 million in fees for improperly using messaging systems like...
Compliance August 1st, 2023 Florida Man Buys Massive Black Diamond with Ill-Gotten Crypto Gains, SEC Says The SEC alleges that Richard Heart offered unregistered cryptocurrency and spent investor assets on personal luxury goods.
Compliance July 31st, 2023 SEC Proposal Would Require Elimination of Conflicts When Using AI and Similar Technology The proposal applies to the use of wide range of technologies, including predictive analytics, that might put the firm’s interests...
Compliance July 28th, 2023 SEC Proposes Restricting Internet Adviser Exemption The proposal would require online financial advisers registered with the SEC to conduct business solely through their respective websites, as...
Compliance July 26th, 2023 SEC Requires Public Companies to Disclose Cybersecurity Data Annual reports must include information on the issuer’s cybersecurity management and governance, and they must disclose material incidents within 4...
Compliance July 21st, 2023 Congressional Proxy Voting Reforms Include Changes to Adviser Discretion Among 11 total bills, one would require advisers to either abstain or vote the way their client or the issuer...
Compliance July 20th, 2023 Gensler: SEC Will Continue Enforcement Against Crypto Companies Securities and Exchange Commission Chair Gary Gensler testified that cryptocurrencies are a “highly speculative asset class” and that the crypto...
Compliance July 20th, 2023 The PLANADVISER Interview: Tina Anstett, Senior ERISA Counsel, Smart A senior counsel who consults on ERISA fiduciary issues and IRS and DOL audits discusses the state of artificial intelligence...
Compliance July 17th, 2023 SEC’s Gensler Says AI Can Create Conflicts of Interest The SEC chair said that an AI program that even accounts for the interests of the adviser could present conflicts...
Compliance July 13th, 2023 Senate, House Spending Bills at Odds on SEC Adviser Proposals The House’s budget bill would block the safeguarding and climate risk proposals, whereas the Senate budget would not.
The Markets July 13th, 2023 IAA: SEC Marketing Rule Still Top Concern for Compliance Teams Investment advisories rank the marketing rule as the ‘hottest’ topic for the third year in a row, followed by cybersecurity...
Compliance July 12th, 2023 SEC Changes Liquidity Fee, Gate Structure for MMFs MMFs must be significantly more liquid in 2024 under new rule updates adopted this week.
Compliance July 7th, 2023 FINRA Expels Brokerage Firm Monmouth for Violating Reg BI Monmouth is the second firm to be expelled by FINRA for failing to supervise its representatives’ trading.
Compliance July 7th, 2023 Supreme Court Accepts Case Challenging Legitimacy of SEC’s Adjudication System The court has agreed to hear a case next session which could dramatically reduce the authority of in-house adjudication process...
Products July 6th, 2023 Investment Product and Service Launches BlackRock Debuts First Buffer ETFs; SMArtX Adds 15 Investment Strategies; Fidelity Refiles Spot Bitcoin ETF Application.
Compliance July 6th, 2023 J.P. Morgan Fined $4M for Recordkeeping and Outsourcing Failures The SEC penalty addressed recordkeeping issues including the early deletion of 47 million emails.
Compliance June 28th, 2023 House Republicans Outline ESG Policy Goals An interim report argued that the US should protect firms from foreign regulators and require more transparency on ESG issues.
Compliance June 26th, 2023 House Appropriations Bill Would Block Safeguarding and Swing Pricing Proposals, Among Others The legislation also targets the climate disclosure and market structure proposals.
Compliance June 23rd, 2023 IAA: SEC’s Pending Adviser Proposals Are Redundant, Inconsistent A letter from the industry association outlines what it calls overlap and inconsistencies between them.