The SEC’s proposed vendor due diligence rule
On October 26, 2022, the Securities and Exchange Commission proposed new oversight requirements for certain services outsourced by Investment Advisers. https://www.sec.gov/news/press-release/2022-194 The new rule proposal would prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of said service providers. The outsourcing focus is on areas such as: Outsourced Compliance […]