In the U.S., the Securities and Exchange Commission (SEC) has signaled a clear shift in focus and prioritization. Recent commentary from SEC Chair Gary Gensler indicates that the agency will likely push forward with an aggressive rulemaking agenda.
"The SEC’s Enforcement Division is the cop on the beat for America’s securities laws…As these results show, we go after misconduct wherever we find it in the financial system, holding individuals and companies accountable, without fear or favor, across the $100-plus trillion capital markets we oversee." - Chair Gary Gensler, 2021 Division of Enforcement Annual Report
In June 2024, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) proposed a rule to ‘strengthen and modernize financial institutions’ Anti-Money Laundering (“AML”) and countering the financing of terrorism (“CFT”) programs.
We have reason to believe the SEC has begun its targeted examinations of investment advisers to assess their compliance with the T+1 transition.
Financial firms must meet various regulatory filings requirements throughout the year. These are the regulatory filing submission deadlines occurring from July through September 2024.
FinCEN and the SEC recently issued a proposal detailing requirements for customer identification programs for registered investment advisers and exempt reporting advisers.
Although the court ruled to vacated the SEC's Private Fund Adviser Rules, we do not see this as a moment to "put pencils down,” but rather to monitor closely and continue with compliance readiness under potential appeal outcomes.
The SEC adopted amendments to Regulation S-P intended to provide investors with greater privacy protections and transparency into data breaches.
Join us for a special live Consultant's Corner webcast where we'll discuss what firms should know about the recent deficiencies uncovered in private fund manager examinations.
Our surveillance, compliance, and technology experts will discuss the latest client communication trends in the financial industry and what solutions are available to monitor and archive those communications.
Hear from ACA’s Carlo di Florio, Mike Pappacena, and Liam Jaris as they unpack the SEC’s proposed cyber rules and amendments and describe how they can affect private fund managers.