BDs’ Cybersecurity Stronger Than Advisors’: SEC, FINRA Reports
Both the SEC and FINRA will "likely bring enforcement actions if firms’ policies and procedures are found to be deficient,” warns Sutherland's Brian Rubin.
SEC Would Hire 431 Under Obama’s 2016 Budget
The new hires would come in addition to the 105 examiners the SEC plans to hire in fiscal 2015.
Is a ‘Presence Exam’ in Your Future, RIA?
SEC exam chief Andrew Bowden said at a January hedge fund conference in New York that the agency's Office of Compliance Inspections and Examinations will use the “presence exams” that it used to audit newly registered private fund advisors on never-examined advisors in 2015.
Is There Really an Advisor Exam Problem?
Head scratching continues over what to do about boosting SEC advisor exams — or whether the supposed deficiency is just a political football.
SEC Investment Management Director Champ to Exit
Champ played a key role in the SEC’s money market fund reforms and instituted regular IM Guidance Updates. He will teach at Harvard Law.
GOP Thwarts Rep. Waters’ Effort to Add User-Fees Bill to Dodd-Frank Package
GOP lawmakers blocked the user-fees bill aimed for the Dodd-Frank rollback package that passed the House on Wednesday.
SEC to Conduct ‘Presence Exams’ on Never-Examined Advisors
SEC’s 2015 exam priorities will include protecting investors, particularly retirees and pre-retirees; market structure issues like cybersecurity; and using data to identify illegal activity.
SEC Chief White Pushes Back on Advisor Audits
White tells Financial Services Committee that a reallocation of resources from BD coverage to advisors would ‘not be advisable.’
SEC's Bowden: Ethical Standards More Important Than Policy, Procedures
Advisory firms striving for compliance “can’t be effective by merely having policy and procedures, even if tested,” the exam chief said.
New Fiscal Year Will Bring More Advisor Cases: SEC Enforcement Chief
SEC enforcement chief Andrew Ceresney says the agency will continue to bring cases on matters like fees and conflicts of interest.