A major focus of asset managers continues to be environmental, social and governance (ESG) factors. In response to investor and regulatory demands, ESG considerations and related-disclosures figure more prominently in investment strategies and investment vehicles. To help you make sense of it all attend ESG Considerations for Asset Managers.
All posts by BDIA Editors
SEC’s amendments to Rule 10b5-1 and new state privacy laws — ACA Regulatory Updates
February Regulatory Updates from ACA.
Topics include:
- News for All Firms
- SEC Amends Rule 10b5-1 Restricting Insider Trading
- State Privacy “Class of 2023” – Several New Privacy Laws Taking Effect
- News for Investment Advisers
- 10 States Now Require IARs to Complete Annual Continuing Education
- Form 13F Amendments to Make Data More Usable Take Effect
- News for CPOs/CTAs
- NFA Reminds Members to Confirm Exemption Status of Entities They Do Business With
- Lessons Learned
- SEC Fines Service Provider $5 Million for Securities Fraud: Service Providers Beware!
- I’m Ready for My Close-Up: Former PM Leverages Investment to Get His Daughter in the Movies
- Adviser Keeps Revenue Sharing on the Down Low – and Gets SEC Smackdown
SEC’s Division of Examinations 2023 Priorities
The SEC’s Division of Examinations recently released its Examinations Priorities 2023 report. In fiscal year 2022, they examined approximately 15% of the registered investment adviser population, and over 360 broker-dealers examinations, and, together with FINRA, they examined nearly half of the approximately 3,500 registered broker-dealers in fiscal year 2022. They continue to focus on their “four pillars”: (1) promote compliance; (2) prevent fraud; (3) monitor risk; and (4) inform policy.
ACA’s take on the priorities can be found here.
SEC’s IM Division announces it will allow Oct. 26, 2017 SIFMA no-action letter to expire on July 3, 2023
From Morgan Lewis’ LawFlash, the SEC’s division of Investment Management’s announcement that it would allow its October 26, 2017 no-action letter to SIFMA to expire on July 23, 2023 “pulls the rug out from under ‘Hard Dollar’ research arrangements,” and raises questions about the possible investment adviser status of broker-dealers that, after that date, accept cash or “hard dollar” payments for research from investment managers subject to the EU Markets in Financial Instruments Directive II.
Back to Office Guidance
From our friends at Hardin Compliance Consulting LLC, helpful guidance for broker dealers and RIAs, as they plan their return:
- Question & Answer Employer Guide: Return to the Work in the time of COVID-19 by Faegre Drinker.
- Making your Office Safe to Return after COVID-19 by Riia O’Donnell of Workest.
- Preparing for Reentry in the US by Goodwin Procter LLP.
- Reopening Your Doors – BakerHostetler’s Return to Work Toolkit
