Compliance April 28th, 2023 House Committee Unanimously Approves Bill Requiring SEC to Study Size Cutoff for Advisory Firms The Small Entity Update Act requires the SEC to revisit the ‘small entity’ definition of advisory firms every five years.
Compliance April 21st, 2023 Execution Quality Disclosure, Tick-Size SEC Proposals Enjoy Industry Support Mandatory auctions and Reg BE are considerably less popular.
Compliance April 20th, 2023 SEC Updates Guidance on Adviser Investment Obligations The latest guidance adds teeth to initial Regulation Best Interest, passed in 2019.
Compliance April 20th, 2023 At House Committee, SEC Swing Pricing Proposal Comes Under Fire Gensler defended the SEC’s recent proposals on subjects such as climate disclosure and swing pricing.
Compliance April 18th, 2023 Betterment Pays SEC $9M for Misstatements Regarding Tax Loss Harvesting The digital advice and IRA provider agreed to pay the fines without admitting or denying wrongdoing.
Compliance April 14th, 2023 Commenters Urge SEC to Implement Market Proposals Sequentially The growing chorus of caution now includes the Department of Justice.
Compliance April 14th, 2023 Proposed Bill Would Tie $150 Million RIA Registration Threshold to Inflation The Small Business Investor Capital Access Act, introduced this week, would increase the registration exemption from $150 million by tying...
Compliance April 12th, 2023 Gensler to Testify at House Oversight Hearing Next Week Items such as the SEC’s market structure and cybersecurity proposals are likely targets for questioning, as is the SEC’s climate...
Compliance April 11th, 2023 SEC Makes Important Investment Company Act Exemption Allowing one tech company to avoid registering as investment company could be the first step toward a permanent rule.
Compliance March 28th, 2023 Proposed Legislation, SEC Rule Would Greatly Expand Electronic Disclosures A proposed bill and an SEC proposal on the same topic target two different audiences.
Compliance March 21st, 2023 Proposed SEC Cybersecurity Rule Requires Prompt Notice to Prevent Contagion The SEC reopened the comment period on its cybersecurity rule last week, in part so advisers can take more time...
Compliance March 20th, 2023 SEC Looks to Overhaul Regs SCI, SP The SEC’s proposed updates would expand the institutions subject to various data security requirements and strengthen data breach notification requirements.
Compliance March 17th, 2023 Complying With the Custody Rule and the New Custody Proposal Experts explained common compliance mistakes involving the custody rule and spoke to the new custody rule proposal.
Compliance March 15th, 2023 SEC Reopens Comment Period for Proposed Cybersecurity Rules The rules from the February 2022 proposal include new recordkeeping requirements, and industry actors requested more time to review them.
Compliance March 14th, 2023 Complying With SEC Marketing Rule: Don’t Say What You Can’t Prove SEC officials and compliance experts say that proving statements of fact should be at the top of advisers’ to-do list...
Compliance March 13th, 2023 SEC’s Uyeda Expresses Concern about SEC Overreach Republican commissioner specifically mentioned the new outsourcing rule, pay-to-play enforcement and compliance periods for SEC rules.
Compliance March 10th, 2023 White House Budget Proposal Increases Funding for DOL Enforcement Actions President Joe Biden’s proposal for fiscal 2024 also provides Social Security Administration, IRS with more money to improve customer service.
Compliance March 6th, 2023 Gensler Says SEC Agnostic On Green Investing, Seeks Improved Disclosure The SEC chair told a room of institutional investors that the regulator is “merit neutral” on how investors use climate-related...
Compliance February 16th, 2023 SEC Adopts Settlement Cycle Rule, Proposes New Custodial Rule The rules, adopted and proposed, respectively, by 3-2 margins, were partially informed by recent scandals.
Compliance February 15th, 2023 SEC Wants Enhanced Protections on Crypto, Other Adviser-Managed Investments The proposed changes would amend a custodial rule requiring cryptocurrency exchanges to be run by qualified custodians.