Author: Chris Payne On March 11, 2020, the Dow Jones Industrial Average closed down 1,465 points, or nearly 5.9%. This drop meant a total decrease of more than 20% from its all-time closing high, signifying the index was now officially in a “bear market”, thus ending the longest bull market in history. The S&P 500,…
Author: Jamie Cahal Cybersecurity has been a concern for market participants for quite some time and continues to remain on the SEC’s 2020 list of examination priorities. In January, the SEC Office of Compliance Inspections and Examinations (OCIE) released a publication on some of its cybersecurity observations in recent years and how to evaluate and…
Author: Ashley Hatt The SEC recently proposed a change to the term Accredited Investor earlier last month on the 18th of December and if the changes move forward, they could literally redefine how business is conducted for everyday investors. So, you may be asking yourself, what are these proposed changes, what do they mean and…
Author: Ian Meiksins In FY 2019, the SEC conducted 2,180 examinations of Investment Advisors which is approximately 15% of all federally registered advisors. Yet, in their 2020 examination priorities, the SEC and Chairman Jay Clayton expressed concern that as the market for Investment Advisors continues to grow, they do not currently have the support or…
Authors: Cheryl Leibowitz and Alisha Dowell Earlier this month, the SEC Office of Compliance Inspections and Examinations (“OCIE”) released a risk alert specifying the most commonly cited areas of compliance deficiencies during the course of mutual fund, money market fund, and target-date fund exams. Similar to investment advisers, mutual funds are subject to routine examinations….
Authors: Alisha Dowell & Chris Payne On November 4, 2019, the United States Securities and Exchange Commission (the “SEC”) announced its long-promised changes to the Investment Advisers Act regulations relating to advertisements. The proposed changes seek to modernize regulations to “reflect changes in technology, the expectations of investors seeking advisory services, and the evolution of…
Author: Kaley Mitts & Chris Payne On October 1st, Charles Schwab and TD Ameritrade announced they will reduce their commissions on U.S. stocks, exchange-traded funds (“ETFs”), and option trades to zero. On October 2nd, their rival E*Trade Financial joined in the race to zero commissions, leaving only Fidelity standing resolute (for now). In the last…
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