Category Archives: Advertising
On January 4, 2012, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations released a regulatory alert discussing the use of social media by investment advisers. In recent months, the SEC has been reviewing the existing social media policies and procedures of registered investment advisers. In the regulatory alert, the SEC [...]
Posted by Bryan Hill
Tuesday, January 17, 2012
In March, the U.S. Securities and Exchange Commission (“SEC”) charged a Houston based investment adviser firm with fraudulent conduct related to offerings made to the clients of firm. The SEC alleged that the Houston based investment adviser advised clients to invest in promissory notes issued by a financial media company also owned by the owner [...]
When holding itself out to the public, an investment adviser should not imply that the U.S. Securities and Exchange Commission (SEC), a state securities regulator or another governmental agency has sponsored, recommended or approved the firm, based upon its registration. For example, an investment advisor should not use the term “Registered Investment Adviser” to imply [...]
Does your registered investment advisor have strong supervisory and compliance procedures designed to approve and monitor adverting and marketing materials? Did you know that an the advertising and marketing materials of an investment advisor registered with the U.S. Securities and Exchange Commission (“SEC”) fall under the anti-fraud provision of the Investment Advisers Act of 1940? [...]
Advertising continues to be one of the primary focus areas of the SEC during investment adviser examinations. More specifically, performance advertising is one of the more common deficiencies found during SEC examinations and one that needs effective compliance oversight. During examinations, the SEC is interested in whether investment advisers have effective policies and procedures to [...]
A recent consent order in a matter before the Nebraska Securities Bureau serves as a reminder to registered investment advisors of the necessity to clearly and accurately disclose that advisory services are offered by the registered investment advisor and not an outside business activity of the investment advisor representative. According to the consent order, the [...]
In January of this year, the SEC entered bar and cease and desist orders against a two member registered investment advisor firm. The firm was owned by a husband and wife with the wife serving strictly in an administrative capacity. The law judge in the case found that the registered investment advisor had willfully violated [...]
Posted by Bryan Hill
Friday, February 29, 2008
During recent testimony before the U.S. Senate’s Special Committee on Aging, United States Securities and Exchange Commission (“SEC”) Chairman Christopher Cox offered a preview of the results from the SEC’s targeted exams of financial firms that sponsor “free lunch” seminars in advance of the full release next week at the SEC’s “Senior Summit”. The following [...]
Posted by Bryan Hill
Thursday, September 6, 2007
The United States Senate Special Committee on Aging will hold a hearing entitled as “Advising Seniors About Their Money: Who Is Qualified – and Who Is Not?” on Wednesday, September 5, 2007 at 2:00 p.m. EST. If interested in hearing the webcast, you should visit the website of the Special Committee on Aging. Joseph P. [...]
Posted by Bryan Hill
Saturday, September 1, 2007
Earlier this month, the California Department of Corporations announced proposed changes to rules regulating investment advisers registered in California. According to the release, the objective in proposing the amendments is to increase uniformity with the model rules suggested by the North American Securities Administrators Association (NASAA), rules already in effect in other states, and rules [...]
Posted by Bryan Hill
Thursday, August 30, 2007
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