FSOC is describing climate change as an "emerging threat" to U.S. financial stability and says investors, market participants, and regulators need better data and information, including "enhanced and transparent disclosures" regarding climate-related financial risks. A new FSOC report makes 30-plus recommendations for addressing the threat.
A new Risk Alert showcases SEC examiners' findings on compliance issues around advisory fees. Examiners looked at overcharging, disclosure accuracy and adequacy, compliance program effectiveness, and accuracy of books and records.
A new Risk Alert outlines compliance deficiencies SEC examiners discovered in an initiative focused on digital advisers. The exams looked at how firms were upholding their fiduciary duty to provide clear and adequate disclosure, among other things.
The SEC's Asset Management Advisory Committee (AMAC) is recommending that the SEC address the IAA's calls for relief for smaller investment advisors through tailored regulation and assessment of the cumulative impact of regulation on small firms.
SEC Commissioner Elad Roisman is urging the SEC to provide more clarity around advisers’ cybersecurity obligations, underscoring the need to set clear expectations and promote protection of client account data as firms' reliance on technology grows.
A list of upcoming compliance deadlines in 2021.View Dates
IACCP Certification & Training
The Investment Adviser Certified Compliance Professional (IACCP®) program is designed to advance investment adviser compliance as a profession.See 2021 Calendar
SEC Commissioner Hester Peirce addresses climate change and ESG concerns at the IAA’s Compliance Conference.
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Active Managers Council’s Impact – and Two Major Initiatives
IAA President & CEO Karen Barr on how our Active Managers Council is producing positive, measurable results…with a look at two important current initiatives that we want you to support.
Compliance and Operational Risks Associated with Public Pension Plan Investors
Requirements for public pension plan investments have expanded. Managers must consider compliance challenges before a plan invests and before the first interaction with a plan.
Legal and Regulatory Updates
SEC Risk Alert Spotlights Deficiencies, Good Practices ID’d in RIC Exams
A new SEC Risk Alert reviews results of over 200 mutual funds and exchange-traded funds exams looking at impacts on retail investors.
SEC Withdraws, Modifies No-Action Letters RE: Advertising, Cash Solicitation
As expected, the SEC is withdrawing certain staff no-action letters relating to the current Advisers Act Advertising and Cash Solicitation Rules.
Cybersecurity Mandate for Fed Agencies: Remediate Urgent, Active Threats
In a new strategy to reduce government agencies' exposure to cyber attacks, the Cybersecurity and Infrastructure Security Agency (CISA) is instructing the SEC and DOL among others to quickly remediate a list of 290 active threats.
IOSCO Report Recommends Sustainability-Related Improvements for Asset Managers
IOSCO issues a Final Report with recommendations to improve sustainability-related practices, policies, procedures and disclosures in our industry.
SEC Report Describes GameStop Trading Market Volatility, Recommends Further Study
A new SEC report says January's market volatility in "meme" stocks tested market capacity and resilience "in a way few could have anticipated."