On July 7, 2026, SEC Chairman Paul Atkins issued a statement regarding the SEC’s 2026 Regulatory Agenda. The agenda reflects the Commission’s current emphasis on modernization, regulatory relief, technological innovation, capital formation, digital assets, and expanded retail access to private markets. Several of the planned initiatives could directly affect SEC-registered investment advisers. Others may affect only private fund advisers, registered fund advisers, or firms wi

A case from earlier this year provides insight into key areas that registered investment advisory firms should review to help identify and address potential gaps in their compliance programs. Reviewing SEC enforcement cases can help firms identify regulatory priorities, test portions of their own compliance programs, and discuss potential concerns with their internal and external compliance resources. This case details the following violations: · Hedge clause and liabi

For SEC-registered investment advisers, the annual compliance review is not optional. Rule 206(4)-7 under the Investment Advisers Act of 1940 requires each registered adviser to adopt and implement written policies and procedures reasonably designed to prevent violations of the Advisers Act and its rules. The rule also requires the adviser to review those policies and procedures at least annually to determine whether they are adequate and being implemented effectively. In pra

The SEC Division of Examinations issued a Risk Alert on June 9, 2026, addressing examination observations involving investment adviser economic conflicts of interest. The Risk Alert focuses on economic incentives advisers and their financial professionals may have when recommending products, services, account types, cash management programs, custodial arrangements, or fee structures. The SEC noted that examination staff observed conflicts that were undisclosed, incompletely d

Introduction For many advisory firms, the annual compliance review is a recurring line item on the calendar, one that too often becomes a documentation exercise rather than a diagnostic one. Under Rule 206(4)-7, however, the annual review is a cornerstone of every adviser’s compliance program. Done well, it is not only a regulatory requirement but also an operational stress test that can highlight both compliance gaps and business inefficiencies. While the rule itself is conc

A recorded discussion with Coulter Strategic Services and MTradeCraft on the responsible use of artificial intelligence in advisory firms. This session covers privacy considerations, compliance steps under SEC requirements, and practical ways to use AI tools securely and effectively. Learn how to protect client data, improve output quality, and align AI use with your firm’s fiduciary and regulatory obligations. All information provided is for educational purposes and shall no

April 10, 2025 With Paul Atkins confirmed on April 9, 2025, as Chair of the U.S. Securities and Exchange Commission , a shift in tone is...

Recent regulatory scrutiny has highlighted how the misuse of social media can blur the lines between personal market opinions and...

The financial exploitation of seniors and vulnerable adults is an increasing concern in today's society. As the population ages, the...

Introduction The financial exploitation of seniors and vulnerable adults is an increasing concern in today's society. As the population...

Proposed Rule: Enhanced Safeguarding Rule for Registered Investment Advisers (Proposed Date: February 15, 2023) The proposed Enhanced...

Advisory firms are subject to various regulations aimed at safeguarding client data, including the Red Flags Rule under the Fair Credit...

As the regulatory landscape for Registered Investment Advisers (Firms ) continues to evolve, staying ahead of proposed rules is crucial...

Introduction Hypothetical performance is a key component of the SEC’s Marketing Rule, which imposes specific criteria that firms must...

The recent global outage caused by a faulty CrowdStrike update, which affected Microsoft Windows systems worldwide, serves as a critical...

We are pleased to announce the release of an insightful pre-recorded presentation titled "Balancing Innovation with Regulatory...

We are pleased to announce the release of an insightful pre-recorded presentation titled "Balancing Innovation with Regulatory...

The recent SEC enforcement action against Van Eck Associates Corporation (VEAC) offers several valuable compliance lessons for registered...

Introduction Mutual fund share classes have distinct characteristics that directly impact investment returns through varying fees and...

The recent amendments to Rule 206(4)-7 under the Advisers Act mark a significant shift in regulatory requirements for investment advisers...