SEC

Recently, Reg BI was cited in a news release regarding a civil regulatory action filed by the SEC against a brokerage firm for sales of complex securities to retail investors (“SEC Complaint”). This represents the first time that a Regulatory Enforcement Complaint specifically referenced Reg BI. In turn, a private action was recently filed on the

The SEC’s new Marketing Rule 2021 is a game changer that all financial professionals need to understand. CFI Managing Directors John Ivan and Andrew Lippman, together with Richard Chen, recently provided an overview of 5 key areas of the new rule. Listen to this informative Sara Grillo podcast here: https://saragrillo.com/2021/04/12/new-sec-marketing-rule-2021-5-parts-to-be-aware-of

The SEC recently announced its Division of Examinations Observations: Investment Advisers’ Fee Calculations. The notice is expressly described as a follow-up to its 2018 Risk Alert. It highlights the importance of this topic with citations and guidance resulting from the focused examination of 130 firms referenced as the Advisory Fee Initiative. The key warning to advisers is

The SEC recently announced its second wave of 12b-1 SCSD Amnesty Settlements.  It included one firm that was not a participant in the self-reporting initiative. It has also signaled that they are continuing to see these problems on exams, with firms who did not self-report. More troubling, but not surprising is the expected expansion of

SEC to Chase New Share Class Cases Under ‘Best Interest’ Rules Article published on July 8, 2019 By Jill Gregorie The SEC’s efforts to weed out instances of conflicted advice are far from finished, even after settling 79 cases of share class overcharges earlier this year. The four-month amnesty period that the Securities and Exchange Commission

Managing Director John Ivan commented for Ignites, an FT publication, on the industry’s efforts to volunteer information in advance of the SEC’s June 12th deadline for amnesty involving overcharging of clients.

The Securities and Exchange Commission’s Share Class Selection Disclosure (SCSD) Initiative, announced on February 12, seeks to protect advisory clients from, and return money to, those affected by undisclosed conflicts of interest. Under the SCSD Initiative, the SEC’s Enforcement Division will recommend standardized, favorable settlement terms to investment advisers who self-report that they failed to disclose conflicts of