The Financial Crimes Enforcement Network (FinCEN) and SEC recently released a joint proposal outlining potential Customer Identification Program (CIP) regulations for investment advisers.
The IAA has submitted a comment letter urging the SEC to make additional changes to its proposed rule relating to the safeguarding of advisory client assets.
The IAA has submitted a comment letter urging the SEC to make substantial changes to its proposed rule related to the safeguarding of advisory client assets.
Reflecting an ongoing focus on both oversight of branch offices and safeguarding of client information, the SEC’s Division of Examinations has issued a Risk Alert on the “importance of establishing written policies and procedures for safeguarding customer records and information at branch offices.”
SEC proposes expanding its data privacy rules to require advisers to implement incident response programs and notify clients of unauthorized access or use of sensitive client information; reopens comment period for adviser cybersecurity proposal.
Buyside concerns around a 2020 amended rule that would require dealers to receive and review certain public information before they can publish quotes on fixed income securities were temporarily allayed by a welcome November 30, 2022, SEC no-action letter.
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