SEC targets investment adviser community

Abstract

Purpose

To draw attention to the US Securities and Exchange Commission's (SEC) disciplinary focus on the investment adviser community

Design/methodology/approach

Describes six recent enforcement cases for disclosure, custody, supervisory, procedural, and other rule violations and compliance failures; explains changes in registered investment adviser (RIA) exemptions following enactment of the Dodd-Frank Act; discusses recent SEC announcements concerning inspections and examinations of RIAs.

Findings

The SEC's recent announcements and enforcement actions signal that all advisers (both registered investment advisers and exempt reporting advisers) may want to pay particular attention to their compliance programs and supervisory procedures.

Originality/value

Practical advice from experienced financial services lawyers.

Citation

P. Bramnik, R. and M. Wolfe, M. (2014), "SEC targets investment adviser community", Journal of Investment Compliance, Vol. 15 No. 1, pp. 45-47. https://doi.org/10.1108/JOIC-01-2014-0004