Compliance Solutions for Investment Advisers

Monthly Archives: June 2013

SEC Needs More Examiners

Mary Jo White, chairman of the SEC, wants to add 250 more examiners to police investment advisers, but the agency needs up to 2,000 to boost its policing of the business significantly. Adding 250 investment-adviser examiners — a priority of Ms. White as she goes before a Senate budget panel Tuesday — will only boost annual


Securities regulators are going to try to extract admissions of wrongdoing from defendants in some of their settlements, a move that could ultimately force more cases to go to trial, Securities and Exchange Commission Chair Mary Jo White said Tuesday.

Social Media & Testimonials

Whether a third-party statement is a testimonial depends upon all of the facts and circumstances relating to the statement. The term “testimonial” is not defined in Rule 206(4)-1(a)(1), but SEC staff consistently interprets that term to include a statement of a client’s experience with, or endorsement of, an investment adviser. Therefore, depending on the facts

Identity Theft Red Flags Rules

Frequently Asked Questions regarding the Identity Theft Red Flags Rules have just been added to our resources page.

SEC Charges Adviser with Front Running

The SEC has charged a Dallas-based registered investment adviser’s primary equity trader with insider trading and trading ahead of large block trades for the adviser’s clients through one of his wife’s brokerage accounts. The trader failed to report his wife’s accounts and one of his accounts, and holdings and transactions in these accounts to the

Identity Theft Red Flag Rules

On April 10th, the Securities and Exchange Commission (“SEC”) and the Commodity Futures Trading Commission (“CFTC”) jointly approved a final rule requiring broker-dealers, mutual funds, federally registered investment advisers, and certain other regulated entities to adopt programs designed to detect and address identity theft. The final rule release is available online by clicking here. These rules

Compliance Quote of the Day

“No sooner had a solution been found than a new solution was needed.”