Dear Compliance Professional, Dodd-Frank is certainly keeping us all busy. On July 12, 2011, the SEC issued an order adopting changes to the standard for charging clients a performance fee. Background The Advisers Act generally prohibits an investment adviser from … Continued
Dear Compliance Professional, The recently adopted SEC rules and rule amendments refer to an adviser’s “regulatory assets under management.” This new terminology distinguishes the assets reported in Form ADV Part 1 from the assets under management disclosure that advisory clients … Continued
Dear Compliance Professional, The rules adopted by the SEC last week provided much needed clarity to both the new assets under management (AUM) threshold for SEC registration and the required transition of certain “mid-sized” SEC-registered investment advisers to state registration. … Continued
Dear Compliance Professional, As a result of the many SEC audits we have participated in over the past few months, we have begun to get a clearer picture of what concerns the SEC most these days. While it is safe … Continued
For your convenience, we will be posting archives of our Compliance Alert! newsletter on the Compliance “Best Practices” blog. They can be found in the category of the specific topic addressed (e.g., “Risk Assessment”) and will be filed as of … Continued
Dear Compliance Professional, While the SEC has provided detailed instructions regarding the new ADV Part 2, there are many open questions – as there typically are with new requirements – as to the practical implications of these instructions. Many of … Continued
Dear Compliance Professional, This past Friday (November 19th), the SEC proposed new rules to implement provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”). This brief Compliance Alert addresses one aspect of those proposed rule changes … Continued
Dear Compliance Professional, Big doings are certainly afoot in the regulatory world. Did I say big? These “doings” are of gargantuan proportions – earth shattering, paradigm shifting, game changing doings that will affect every financial services firm including all SEC … Continued