- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-05-12T18:20:00
The Division of Examinations at the Securities and Exchange Commission (SEC) on Thursday issued a risk alert to aid registered investment advisers and investment companies in their transition efforts away from the London Interbank Offered Rate (LIBOR).
U.S. dollar LIBOR panels end June 30, and many firms are still confronting significant direct exposure to LIBOR-linked contracts, the SEC observed. New contracts referencing LIBOR haven’t been available since the end of 2021, when the U.K. Financial Conduct Authority put the nail in the coffin of the benchmark interest rate.
The decision to move away from LIBOR was made following discoveries of manipulation of the rate. The United States has since moved forward with the Secured Overnight Financing Rate (SOFR) as a replacement.
THIS IS MEMBERS-ONLY CONTENT. To continue reading, choose one of the options below.
News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
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 protection of customer personal data by branch offices of broker-dealers and investment advisers should be just as robust—and as well-coordinated—as protocols used by the firm’s home office, according to the Securities and Exchange Commission.
Staff at the Securities and Exchange Commission issued a bulletin addressing standards of conduct for broker-dealers and investment advisers in addressing their care obligations under Regulation Best Interest and the Investment Advisers Act.
When the DOJ released its revised Evaluation of Corporate Compliance Programs, it turned some heads. Tucked into a section on risk assessments was a strongly worded series of questions that appeared to shoulder compliance teams with the responsibility for ensuring the safe use of AI tools by their firms.
The Department of Justice’s Evaluation of Corporate Compliance Programs has made the importance of artificial intelligence governance frameworks clear, but it didn’t say what role compliance should play. Here’s the answer.
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.
