The five key areas that the Division will be examining in 2024 are:
You can find the full report here.
Good people, important problems and workable laws – celebrating the SEC at 90!
On July 17, PLI hosted The SEC at 90: A Celebration and Retrospective in our New York Conference Center. The program, chaired by longtime Securities faculty Clifford Kirsch, featured SEC Commissioner Hester Peirce, author Diana Henriques (Taming the Street and The Wizard of Lies), former SEC Commissioners Robert J. Jackson, Jr. and Troy Paredes, and other expert panelists. Speakers discussed the SEC’s formation, challenges it faces, opportunities in the next 90 years and beyond, and where SEC practice has been, is, and will be.
According to Richard Chen, RIAs are still making these 3 common mistakes when it comes to client referral arrangements.
1. SEC-registered advisers who pay parties more than $1,000 per year for referrals are sometimes not considering communications made by those referring parties as their own advertisements that are subject to the SEC Marketing Rule. 2. RIAs are not vetting referral sources to ensure they are not statutorily disqualified (i.e., subject to certain criminal or regulatory sanctions).
3. RIAs are still utilizing parties to refer clients for compensation even if those referring parties are not appropriately registered as investment adviser representatives in the states where they are soliciting clients.
