Registration, Disclosure and Filing Requirements

/Registration, Disclosure and Filing Requirements

OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues

OCIE Warns Advisers and Broker-Dealers of Regulation S-P Compliance Issues WHAT HAPPENED? On April 16, 2019, the Office of Compliance Inspections and Examinations (“OCIE”) published a list of compliance issues in connection with Regulation S-P. Regulation S-P requires registered investment advisers, investment companies, and broker-dealers (“registrants”) to provide notice to [...]

IARD and PFRD Systems Inaccessible 3 Weekends in April

IARD and PFRD Systems Inaccessible 3 Weekends in April WHAT HAPPENED? The SEC announced that the IARD and PFRD systems will be unavailable during three weekends in April, plus Good Friday; the outages will occur: Friday, April 5 11:00 p.m. to Monday April 8 5:00 a.m.; Friday, April 12 [...]

BB&T Subsidiary Must Pay $5.7 Million After Policy Violations

BB&T Subsidiary Must Pay $5.7 Million After Policy Violations WHAT HAPPENED? On March 5, 2019, the U.S. Securities and Exchange Commission ordered BB&T Securities to pay $5.7 million following Valley Forge Asset Management’s intentional overcharging of clients. The undue charges occurred from 2013 to 2016 and involved requiring clients [...]

Reminder: LAST DAY to Submit IARD Form Filings is December 27th

Reminder: LAST DAY to Submit IARD Form Filings is December 27th WHAT DOES THIS MEAN FOR ME? This is a reminder that the last day to submit form filings via IARD and Web CRD is Thursday, December 27th.  IARD and Web CRD will be available from 5:00 a.m. until 6:00 p.m. EST.On [...]

Registration Renewal Statements to be posted by Early November

Registration Renewal Statements to be posted by Early November WHAT HAPPENED? Preliminary IARD annual renewal statements will be available through e-bill beginning on Monday, November 12, 2018. Preliminary statement payments will be due on Monday, December 17, 2018. WHAT DOES THIS MEAN FOR ME? Fairview® [...]

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 Announces 2018 Examination Priorities

SEC Office of Compliance Inspections and Examinations Announces 2018 Examination Priorities WHAT HAPPENED? On February 7, 2018, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) announced the 2018 examination priorities.  The exam priorities are published to improve compliance, prevent fraud, monitor risk and implement policy. [...]

SEC Charges Purported Hedge Fund Manager with Fraud

SEC Charges Purported Hedge Fund Manager with Fraud WHAT HAPPENED? On February 2nd, 2018, the Securities and Exchange Commission pressed charges against a hedge fund manager for fraud, ending an ongoing scheme. The SEC claims that since 2014 or earlier, the adviser collectively raised more than $5.3 million from [...]

Important Message from the SEC Regarding Annual Amendment Filing Deadline

Important Message from the SEC Regarding Annual Amendment Filing Deadline WHAT HAPPENED? Saturday, March 31st is the 90-day annual amendment deadline for Advisers with a Fiscal Year ending on December 31st, 2017.  Please be advised that the Investment Adviser Registration Depository (IARD) system will be open on Saturday, March [...]