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The SEC staff previewed the sweep exams in a September risk alert that outlined portions that it intends to focus on when exams begin. Staff also suggested initial sweeps will be used as a tool to better understand current industry approaches before more guidance.
The US Securities and Exchange Commission recently proposed a new rule and rule amendments that, if adopted as proposed, would require registered investment advisers to meet certain...
This article focuses on how the new Rule 206(4)-1 (the “Marketing Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) affects the relationships between investment...
SEC Publishes Annual Rule Making Agenda - The SEC published its annual Rule Making Agenda on June 11, 2021 (the Agenda). The Agenda indicates a number of upcoming regulatory reviews and...
To embed, copy and paste the code into your website or blog: The “Travel Rule” is a Bank Secrecy Act (BSA) rule [31 CFR 103.33(g)] that requires financial institutions to pass certain information on to the next financial institution, in certain funds transmittals involving more than one financial institution. “Financial institutions” include banks; securities brokers or dealers; casinos subject to the BSA; money transmitters, check cashers, currency exchangers, and money order issuers and sellers subject to the BSA. The purpose of the Travel Rule is to help law enforcement agencie...