- 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.
Portuguese bank Novo Banco, S.A., fired Chief Risk Officer Carlos Jorge Ferreira Brandão “with just cause” after an internal probe discovered “suspicious financial transactions” in his sphere.
A prominent risk management firm has issued its predictions for the top five risks for business in 2025, along with guidance for how organizations should prepare and respond.
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.
