- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-06-08T19:07:00
The Securities and Exchange Commission (SEC) is expanding its examination focus regarding investment advisers’ compliance with its new marketing rule.
The SEC’s Division of Examinations issued a risk alert Thursday reiterating its initial areas of review for marketing rule compliance while also noting three additional areas of exam focus. The agency in September flagged its initial review focuses, which included policies and procedures, substantiation requirements, performance advertising requirements, and books and records.
The new alert adds testimonials and endorsements, third-party ratings, and Form ADV as aspects of the rule the agency will be scrutinizing.
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Nine investment advisers agreed to pay a total of $850,000 in penalties across separate settlements with the Securities and Exchange Commission addressing alleged violations of the agency’s amended marketing rule.
How the Securities and Exchange Commission determines which investment advisers to inspect and what areas those examinations typically cover were among subjects addressed in a new risk alert released by agency staff.
The Securities and Exchange Commission ordered Titan Global Capital Management USA to pay more than $1 million for allegedly misleading investors with hypothetical performance metrics in its advertising.
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued an alert to financial institutions about their obligations to report deepfakes, warning artificial intelligence has given bad actors additional tools in their arsenal.
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
