SEC Sanctions Three Firms Under Compliance Program Initiative

posted in: SEC Examinations | 0

The Securities and Exchange Commission sanctioned three investment advisory firms for repeatedly ignoring problems with their compliance programs. The enforcement actions arise from the agency’s Compliance Program Initiative, which targets firms that have been previously warned by SEC examiners about compliance deficiencies but failed to effectively act upon those warnings.  Had the problems been addressed, the firms could have prevented their eventual securities law violations.