- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-04-18T21:01:00
Examiners with the Securities and Exchange Commission (SEC) found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.
In a risk alert issued Wednesday, the SEC’s Division of Examinations said it found some firms’ policies and procedures were “not reasonably designed or implemented to address compliance with the marketing rule,” resulting in gaps for preventing marketing rule and/or books and records rule violations.
Those gaps included policies and procedures that:
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Invesco Advisors agreed to pay $17.5 million to the Securities and Exchange Commission to settle allegations that the company misled investors about the extent of its assets that included environmental, social, and governance factors.
Nine investment advisers will pay a total of $1.24 million to settle allegations that they violated the Securities and Exchange Commission’s marketing rule by disseminating advertisements with untrue or misleading information.
A risk alert from the Securities and Exchange Commission listed top reasons why a registered broker-dealer might be the subject of an examination.
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.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
