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Compliance Steps Fiduciaries Should Take Now to Help Ensure Continued Adherence with the DOL’s New ERISA Exemption
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Compliance Steps Fiduciaries Should Take Now to Help Ensure Continued Adherence with the DOL’s New ERISA Exemption

May 14, 2021 by

Professionals who work with “Plans”, as defined under the Employment Retirement Income Security Act of 1974 (ERISA), and for those that recommend certain investments to individual retirement accounts (“IRA”), such individuals must be mindful to update their firm’s policies and procedures now that the U.S. Department of Labor (DOL) is proceeding with the adoption of a fiduciary exemption that can impose restrictions upon and prevent fiduciaries from engaging in certain activities.

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The Many Recent Signals that Foreshadow a More Aggressive SEC in Terms of Enforcement Action and Stiffer Penalties for Wrongdoers
Blog | Regulatory Examinations & Enforcement Counsel

The Many Recent Signals that Foreshadow a More Aggressive SEC  in Terms of Enforcement Action and Stiffer Penalties for Wrongdoers

April 19, 2021 by

The first few months of 2021 have marked a clear shift in how the U.S. Securities and Exchange Commission (SEC) could soon start holding corporations to a much higher standard of accountability for actions that harm investors. A central theme of the SEC’s emerging mindset, as stated in a March 9, 2021, speech by Commissioner Caroline Crenshaw is the belief that corporate culture comes from the top and there is a strong need to incentivize companies to foster a culture of compliance, not misconduct.

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SEC Division of Examinations Cites Enhanced Focus on Business Continuity Processes, Protection of Retail Investors and ESG-Related Risks Among its 2021 Priorities
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SEC Division of Examinations Cites Enhanced Focus on Business Continuity Processes, Protection of Retail Investors and ESG-Related Risks Among its 2021 Priorities

March 16, 2021 by

The U.S. Securities and Exchange Commission’s (SEC) Division of Examinations (“EXAMS” or the “Division”) released its annual priorities on March 3, 2021 in a 42-page report of exam priorities.  Among other things, the list includes an ongoing emphasis on the overall strength of financial advisers’ compliance programs and a growing interest in the evolving risks to investors related to relevant climate and environmental, social, and governance (ESG) funds.

 

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FINRA Report Suggests Growing Need for Enhanced Risk Management in Cybersecurity and Outside Business Activities
Blog | FINRA Broker-Dealer Regulatory Counsel

FINRA Report Suggests Growing Need for Enhanced Risk Management in Cybersecurity and Outside Business Activities

March 12, 2021 by

Firms that have seen the recently released 2021 Report on the Financial Industry Regulatory Authority’s (FINRA’s) Examination and Risk Monitoring Program (the “Report”) should be formulating plans to fortify their compliance programs based on the noteworthy findings shared from recent FINRA exams. The Report provides firms with valuable insight into 18 regulatory topics categorized by Firm Operations, Communications and Sales, Market Integrity, and Financial Management.

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