Adviser Regulatory & Compliance News

Posts from April, 2018.

Chairman Clayton Testifies on the SEC’s Priorities

April 26, 2018

He provided data about the SEC’s National Examination Program (NEP), led by the Office of Compliance Inspections and Examinations (OCIE). He stated that OCIE conducts risk-based examinations of registered entities, including broker-dealers, investment advisers, investment companies, municipal advisors, national securities exchanges, clearing agencies, transfer agents and FINRA, among others. Recently, through the reallocation of resources, advancements in OCIE’s use of technology and other efficiencies, he stated that OCIE increased its examination of investment advisers by more than 40% in FY 2017 over FY 2016 – to approximately 15% of all SEC-registered investment advisers.

Excellent Summary/Analysis of the Fiduciary Rule Status

April 8, 2018

Our friends at Eversheds Sutherland recently posted an excellent analysis of the vacatur of the DoL's fiduciary rule and its impact on plan sponsors and plan providers. By extension, advisers need to keep an eye on the continuing developments regarding the rule and SEC efforts in this area as well. We'll keep you posted on key developments. The article is linked to the heading above.