Fairview

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Fairview

About Fairview

Founded in 2005 with the goal of developing streamlined back office solutions for investment advisers. Fairview is now servicing investment advisers, foundations and funds with over $185 billion in collective assets.

SEC Proposed Regulation Best Interest: Its Impact on Broker-Dealers

SEC Proposed Regulation Best Interest: Its Impact on Broker-Dealers WHAT HAPPENED? On April 18th, the Securities and Exchange Commission (SEC) voted on a proposal known as Regulation Best Interest, a set of rules and interpretations intended to improve the quality and transparency of investors’ relationships with investment advisers and [...]

SEC Charges Hedge Fund Adviser with Deceiving Investors by Inflating Fund Performance

SEC Charges Hedge Fund Adviser with Deceiving Investors by Inflating Fund Performance WHAT HAPPENED? On May 9th, 2018, the Securities and Exchange Commission (SEC) announced its charges against a registered investment adviser with “inflating the value of private funds it advised by hundreds of millions of dollars.” The scheme [...]

SEC Issues FAQs for Share Class Selection Disclosure Initiative

SEC Issues FAQs for Share Class Selection Disclosure Initiative WHAT HAPPENED? On May 1st, 2018, the Securities and Exchange Commission Division of Enforcement issued a list of 19 Frequently Asked Questions on the Share Class Selection Disclosure Initiative, going in-depth on adviser eligibility, disgorgement and the distribution of funds [...]

SEC Releases Proposal to Enhance Protections and Preserve Choice for Retail Investors

SEC Releases Proposal to Enhance Protections and Preserve Choice for Retail Investors WHAT HAPPENED? On April 18th, the Securities and Exchange Commission (SEC) voted to propose a set of rules and interpretations intended to improve the quality and transparency of investors’ relationships with investment advisers and broker-dealers while protecting [...]

The National Institute for Standards and Technology Updates Cybersecurity Framework

The National Institute for Standards and Technology Updates Cybersecurity Framework WHAT HAPPENED? On April 17th, the National Institute for Standards and Technology (NIST) released an updated version of its Cybersecurity Framework, known as version 1.1.  The update concentrates on: vendor and supply chain risk management; governance measures, including integrating [...]

SEC Office of Compliance Inspections and Examinations Releases Risk Alert: Most Frequent Advisory Fee and Expense Compliance Issues Identified in Examinations

SEC Office of Compliance Inspections and Examinations Releases Risk Alert: Most Frequent Advisory Fee and Expense Compliance Issues Identified in Examinations WHAT HAPPENED? On April 12, 2018, the Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) released a compiled list of compliance issues relating to [...]

SEC Charges Investment Adviser for Improperly Registering and Violating Multiple Rules

SEC Charges Investment Adviser for Improperly Registering and Violating Multiple Rules WHAT HAPPENED? On April 5th, 2018, the Securities and Exchange Commission (SEC) charged an investment adviser for improperly registering and violating several commission rules. According to the SEC, the sole owner of an investment firm falsely claimed more [...]

SEC Office of Compliance Inspections and Examinations to Release New Cyber Exam Initiative

SEC Office of Compliance Inspections and Examinations to Release New Cyber Exam Initiative WHAT HAPPENED? On March 22nd, Peter Driscoll, Office of Compliance Inspections and Examinations (OCIE) Director, announced plans for its third cybersecurity sweep exam in four years. The next cyber initiative, will focus on advisers who maintain [...]

Fifth Circuit Court of Appeals’ Split Decision Vacates DOL Fiduciary Rule

Fifth Circuit Court of Appeals’ Split Decision Vacates DOL Fiduciary Rule WHAT HAPPENED? On March 15th, the Fifth Circuit Court of Appeals vacated the Department of Labor’s (DOL) Fiduciary Rule, holding that the DOL surpassed its authority under the Employee Retirement Income Security Act.  The Fiduciary Rule, which was [...]

Bookkeeping Service Considered Custody, Leads to Enforcement

Bookkeeping Service Considered Custody, Leads to Enforcement WHAT HAPPENED? The Securities and Exchange Commission (SEC) recently settled an enforcement action against Financial Fiduciaries, alleging that the adviser had custody of client assets through a “dual employee” who served in various outside business activities. The dual employee worked as a [...]