On July 28, 2020, the SEC announced a pair of settled administrative actions against Houston-based VALIC Financial Advisors (VFA). In the first action, the SEC charged VFA with failing to disclose that its parent company paid a for-profit entity owned by a
SEC Roundtable to Discuss Reg BI and Form CRS
The SEC has announced it will host a roundtable of SEC and FINRA staff to discuss initial observations on Regulation Best Interest and Form CRS implementation. The roundtable, which will be held virtually, will take place Oct. 26, 2020, and discuss how
OCIE Risk Alert—Cybersecurity: Ransomware Alert
On July 10, 2020, the Office of Compliance Inspections and Examinations (OCIE) released a Risk Alert highlighting the dangers of ransomware to SEC-registered entities, including investment advisers. The Risk Alert is a response to a marked uptick in both the prevalence and
LIBOR Transition Preparedness
OCIE issued an examination initiative on June 18, 2020, regarding firms’ readiness to transition away from the London Interbank Offered Rate (LIBOR). LIBOR, widely used in the United States and elsewhere as a benchmark rate for various commercial and financial contracts, including
Sign Up
Sign up here to receive DCS Insights and Alerts and stay on top of important compliance topics that may impact your business.