Pensionmark Hires Compliance Head To Help With Acquisition Push
Jonathan Curley, a former RIA, will perform due diligence on firms Pensionmark is looking to acquire.
Cyber Ready
SEC Collects Record $6.44B On 760 Enforcement Actions in Fiscal 2022
The regulator raked in close to $4.2 billion in civil penalties, nearly three times the $1.46 billion collected the previous fiscal year.
SEC Proposal Calls for Vetting of Outsourced Services by Advisers
The SEC says the new rule proposals are responding to the growing trend in use of third-party vendors by financial advisers. An adviser association calls them ‘overly burdensome.’
The SEC Adopts Rules on Shareholder Reporting, Fund Advertisements
The rules adopted by the SEC update requirements for mutual fund and ETF shareholder reports and promote transparent fee and expense presentations in investment company advertisements.
SEC Risk Alert Addresses Marketing Rule Compliance Examinations
The SEC’s new marketing rule is set to take effect on November 4, and the agency’s Division of Examinations says it will be looking at whether policies and procedures “are reasonably designed to prevent violations.”
PANC 2022: Reg BI Compliance Tips From the SEC
The enforcement of Regulation Best Interest is currently one of the major projects at the Securities and Exchange Commission.
Legislative and Judicial Actions
SEC, CFTC Propose New Private Fund Industry Reporting Changes
Regulators cite the increased complexity of the private fund industry and rapid growth for need to amend confidential filing rules.
BNY Mellon Adviser Settles SEC Charges Over Greenwashing, Pays $1.5 Million Penalty
Case focused on misstatements and omissions regarding ESG offerings.
Legislative and Judicial Actions
SEC Proposes Rules to Address Potential Runs on Money Market Funds
The suggested amendments to the agency’s current rules address redemption costs and liquidity.
SEC Proposes Increase in Transparency in the Securities-Lending Market
The rule would require the reporting of certain material terms of those loans to a registered national securities association, which would then make information available to the public.
SEC Charges 27 Firms for Failing to File and Deliver Form CRS
All firms involved have agreed to settle the allegations that they missed regulatory deadlines for the customer relationship summaries.
SEC to Revisit Proxy Rule Amendments
The agency will address criticism that the changes make advisers’ roles in proxy voting more cumbersome.
SEC Settles Charges Against GWFS Equities for $1.5 Million
The Great-West Life affiliate was accused of violating the federal securities laws governing the filing of Suspicious Activity Reports.
SEC Consolidates Climate, ESG Information
A new webpage brings together all the agency’s actions and information as a response to increased investor demand for climate and ESG investing.
SEC Deregulations Diminish Investor Protections, Office of the Investor Advocate Says
The office is also calling on the SEC to establish an ESG framework.
PANC 2020: Conflict Ahead
Reg BI, a new fiduciary rule proposal from the DOL and state-enacted fiduciary rules—what advisers should keep in mind.
SEC Charges VALIC Financial Advisors With Deceptive Sales Practics
The firm was also charged with mutual fund share class violations.