Preparing for the 2016 Annual Review

An adviser’s risk assessment should reflect changes to the firm, changes to the regulatory environment, and the results of the testing for the previous year.

iStock_000026626954SmallAs the New Year approaches, it is important to keep in mind the hot topics within the regulatory environment so that you can appropriately modify your Compliance Program for the upcoming year.  A few items to consider include:

  • Developing a data security and information protection program to address the SEC’s cybersecurity concerns. View Guidance Update
  • Reviewing/updating code of ethics to require additional due diligence to determine whether accounts are “controlled” by an access person. View Guidance Update
  • For those that advise or sub-advise mutual funds, reviewing existing Gifts and Entertainment policies for compliance with Section 17e-1. View Guidance Update
  • For advisers managing private funds,
    • Reviewing all fees and expenses earned and charged by private funds to determine whether disclosure to investors is required and/or adequate. View Speech from Chair Mary Jo White
    • Developing procedures for establishing a “substantive relationship” with potential investors using the internet View No Action Letter
  • Reviewing (or creating) AML procedures View FinCEN News Release



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