This article was originally published in the NSCP Currents May 2020 publication. Compliance officers routinely build and maintain compliance programs to protect confidential information related to covered securities accounts and investments as required under applicable U.S. federal laws, rules and regulations1 (“investment laws”). Arguably, these efforts, including the mandated code of ethics, establish a clear […]
This code of data ethics Decision Tree may be of interest to help you decide if a strategic change would be helpful as you are challenged to do more.
With so many challenges and distractions, we decided to dedicate this post to a back-to-basics theme focusing on updating your compliance program as operational processes and business plans change, regulators announce new guidance and privacy and data governance remain a top priority. We offer three important reminders. 1. Adjust the Compliance Framework Contingency Planning: Remember […]
It’s that time of year again – time to prepare for your annual Form ADV Review. Disclosures to clients and prospects are even more important this year in light of new requirements announced last summer. This is arguably the most important compliance project for the quarter. Annual Form ADV Review As you conduct your annual […]
Strong governance trends continue to gain momentum increasing the need to review and potentially upgrade testing of ESG claims, data privacy and business ethics controls. Larry Fink’s annual CEO letter entitled A Fundamental Reshaping of Finance has sparked debate. We expect ESG assets to continue to grow in 2020. Accordingly, the importance of ESG compliance will too, especially as the topic […]
Today on the blog we’re highlighting data governance and privacy. We’ve provided takeaways for your compliance program. We hope you find these helpful. Let us know what you think! Data governance is not just a regulatory issue. It also raises various state consumer laws and data breach statutes. Recently, Equifax settled over 300 class action cases for 138 billion USD. This is a […]
In the coming year, regulators will continue to prioritize review of innovative products and new technology. ● Expect a more nuanced approach for scrutiny of digital advisors and assets including review of the adequacy of compliance programs, use of service providers and mitigation of conflicts of interest. SEC Exam Priorities for Virtual Assets ● Recently, […]
This year the SEC provided a steady stream of guidance illustrating which compliance and governance programs worked and which ones fell short. To help you plan for 2020, we have distilled the highlights in this Regulatory Year in Review. As you study enforcement cases, rule proposals and risk alerts, you’ll see there are trends for RIAs to […]
CCOs and their executive allies play an important role in creating and defending their organization’s value. No matter how abstract the impact may appear at first, their efforts can always be measured and quantified in dollar amounts. In fact, that’s how US Department of Justice (DOJ) prosecutors are trained — to convert failures in compliance into monetary […]
On June 4th, the SEC settled a case against the hedge fund investment adviser Deer Park Road Management Company LP (“Deer Park”). Deer Park’s missteps create a uniquely teachable moment for compliance-oriented professionals whose controls may not always focus as intently as they should on the technical details of their organization’s models and processes. While […]