A recent jury decision in a Securities and Exchange Commission (SEC) enforcement action underscores the risks and complexities facing investment adviser firms whose representatives also hold insurance licenses and sell fixed indexed annuities (FIAs) to advisory clients.
Under New Leadership, SEC Brings Action Against Adviser Over Converting Account Types
February 18, 2025
Under the new leadership of Acting Chair Mark Uyeda, the U.S. Securities and Exchange Commission (“SEC”) recently issued and settled a cease-and-desist order that serves as a stark reminder: an investment adviser’s fiduciary duty to act in client’s best interests remains the bedrock for an investment adviser.
Deadline Approaching for Filing the Form 13F with the SEC
January 19, 2025
As we move into 2025, it is crucial for investment adviser firms to stay on top of their regulatory obligations, particularly the requirement to file Form 13F. This filing is mandated by the U.S. Securities and Exchange Commission (SEC) for investment adviser firms which exercise investment discretion over $100 million or more in Section 13(f) securities as of the last trading day of any month during the past calendar year.
Preliminary Renewal Statement Now Available
November 12, 2024
Preliminary Renewal Statements Available Monday
November 08, 2024
SEC Brings Enforcement Action Against Investment Adviser Firms for Failing to Supervise for Cherry-Picking
October 14, 2024
Regulatory Alert
In a recent cease-and-desist order, the U.S. Securities and Exchange Commission (“SEC”) censured and fined two investment adviser firms for allegedly failing to supervise “cherry-picking” practices by two of its investment adviser representatives (IARs).
New AML Requirements for Investment Advisers
October 04, 2024
Overview of FinCEN’s New AML Rule
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has finalized new anti-money laundering (AML) and countering the financing of terrorism (CFT) regulations applicable to certain investment adviser firms. The rule expands the scope of the Bank Secrecy Act (BSA) to include investment advisers registered with the U.S. Securities and Exchange Commission (SEC) and exempt reporting advisers (ERAs). This significant regulatory development is designed to protect the U.S. financial system from being used by criminals for illicit finance activities, including money laundering and terrorist financing.
SEC’s Recent Enforcement Actions Against Investment Advisers For Failing to File Form 13F
September 29, 2024
The U.S. Securities and Exchange Commission (“SEC”) recently settled charges against 11 institutional investment managers for failing to file Form 13F, a critical filing requirement for those who exercise investment discretion over $100 million or more in certain equity securities. The SEC emphasized the importance of compliance with Form 13F, which ensures transparency in securities holdings and fosters market integrity.
