Compliance Solutions for Investment Advisers

5 Most Frequent Compliance Topics Identified in Investment Adviser Exams

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) identified the following five areas of compliance deficiencies or weaknesses frequently found during its staff’s examinations of SEC-registered investment advisers:

(1) Rule 206(4)-7 (the “Compliance Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”); 

(2) required regulatory filings;

(3) Rule 206(4)-2 under the Advisers Act (the “Custody Rule”); 

(4) Rule 204A-1 under the Advisers Act (the “Code of Ethics Rule”); and 

(5) Rule 204-2 under the Advisers Act (the “Books and Records Rule”).

The Risk Alert can be found here.