Avoiding SEC Fines With the Right Technology
The SEC dished out fines to 26 advisory firms for failure to maintain current and accurate records of electronic communications, accumulating $392.75 million and leading firms to enhance their compliance procedures. If we have said it once, we have said it a thousand times: the SEC is continuing to crack down on text message archiving […]
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 […]
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