On Nov. 9, 2020 the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a risk alert detailing its series of examinations of investment advisers operating from numerous branch offices and with operations geographically disbursed from the adviser’s main office. This examination
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
OCIE Risk Alert—Cybersecurity: Safeguarding Client Accounts against Credential Compromise
OCIE’s most recent Risk Alert, published Sept. 15, 2020, address another cybersecurity issue, this time highlighting the dangers of “credential stuffing.” Credential stuffing is a method of cyberattack that uses compromised client login credentials and can lead to loss of customer assets
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
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