Insights - Smartria

November 7, 2018

Categories

OCIE Reveals Cash Solicitation Rule Compliance Issues

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) periodically publishes Risk Alerts to highlight compliance problems discovered during examinations. On October 31, 2018, OCIE circulated a Risk Alert that analyzes compliance […]

October 29, 2018

Published by Mark Cunha

Categories

Same SEC Document Production List

We are seeing quite an uptick in Advisors undergoing regulatory exams. Therefore, as a service to you we are providing the following information in regard to regulatory exams. The SEC’s Office of […]

September 28, 2018

Published by Mark Cunha

Categories

Supervision of Investment Adviser Representatives

Registered Investment Advisers (RIAs) owe a duty to supervise persons associated with the firm with respect to activities performed on their behalf. In recent deficiencies letters, RIAs have been criticized for failing […]

July 27, 2018

Published by Mark Cunha

Categories

RIAs Must Make Good on Fee Refunds and Fully Disclose Their Financial Condition

On July 20, 2018, the SEC announced the settlement of charges against a Beverly Hills-based Registered Investment Adviser (RIA) and its majority owner, because the firm improperly refused to refund unearned advisory […]

July 17, 2018

Published by Mark Cunha

Categories

Testimonial Rule and Social Media Intersect in Recent Enforcement Actions

On July 10, 2018, the SEC settled enforcement actions brought against two SEC-Registered Investment Advisers (RIAs), three Investment Adviser Representatives (IARs), and a marketing consultant, for their involvement in violating the Testimonial […]

July 16, 2018

Published by Mark Cunha

Categories

SEC Publishes Most Frequent Best Execution Deficiencies Found by Examiners

On July 11, 2018, the Office of Compliance Inspections and Examinations (OCIE) released a risk alert dealing with the most frequent best execution deficiencies identified during investment adviser exams. The risk alert […]

April 16, 2018

Published by Mark Cunha

Categories

Frequent Advisory Fee and Expense Compliance Issues

On April 12, 2018, the Office of Compliance Inspections and Examinations (“OCIE”) issued a National Exam Program risk alert in which it outlined the most frequent advisory fee and expense compliance issues […]

April 9, 2018

Published by Mark Cunha

Categories

RIAs Breach Their Fiduciary Duty with Improper Share Class Selection

On April 6, 2018, the SEC ordered three Registered Investment Advisers (RIAs) to pay $12 million to clients harmed by the firms’ breach of their fiduciary obligations. The RIAs had generated millions […]

December 13, 2017

Compliance Budgets Up by 9%, But CCOs Say The Real Cost is Time

Published by Mark Cunha

Categories

Compliance Budgets Up by 9%, But CCOs Say the Real Cost is Time

It’s been a disappointing year for those who thought the new administration would quickly roll back regulations and oversight in the financial industry, including state and SEC compliance for Registered Investment Advisors. […]

See what Smartria can do for you.