NRS Insights Blog
April 22 2022 - NRS Insights
The SEC’s 2022 Examination Priorities and Private Fund Advisers
The Securities and Exchange Commission, Division of Examination (“the Division”), on March 30, 2022, published its long-awaited examination priorities, setting forth the Division’s priorities and the areas of focus posing risks to investors or the integrity of the capital markets. This commentary addresses selected risk areas from the examination priorities impacting private fund advisers.
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April 12 2022 - NRS Insights
Top 5 Reasons to Attend the NRS Spring 2022 Compliance Conference
The NRS Spring 2022 Compliance Conference (held May 16th – 19th in Orlando, FL) offers the ideal opportunity to learn from the best-of-the-best, including industry experts, compliance professionals, and the regulators themselves.
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March 21 2022 - NRS Insights
Top Takeaways from the IAA 2022 Investment Adviser Compliance Conference
Earlier this month, two of our teammates attended the 2022 IAA Investment Adviser Compliance Conference, talking with experts and attending key sessions.
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March 4 2022 - NRS Insights
SEC Proposes Cybersecurity Risk Management Rules and Amendments for Registered Investment Advisers and Funds
The Securities and Exchange has proposed cybersecurity risk management rule amendments for registered investment advisers, and registered investment companies and business development companies (“funds”), as well as amendments to certain rules that govern investment adviser and fund disclosures.
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February 24 2022 - NRS Insights
SEC’s Proposal to Enhance Private Fund Protections
The Securities and Exchange Commission has proposed new rules and amendments under the Investment Advisers Act of 1940 (Advisers Act) to enhance the regulation of private fund advisers and to protect private fund investors increasing transparency, competition, and efficiency.
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February 15 2022 - NRS Insights
SEC Statement: Form CRS and Your Duties
On December 17th, 2021 the Securities and Exchange Commission (SEC) released their Staff Statements Regarding Form CRS Disclosures.
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April 1 2021 - NRS Insights
Implement Effective Policies and Procedures to comply with the SEC’s Marketing Rule
On December 22, 2020, the U.S. Securities and Exchange Commission (SEC) adopted amendments (the final rule) to Rule 206(4)-1 under the Investment Advisers Act of 1940 (the Advisers Act) to modernize the regulation of investment adviser advertising and solicitation practices.
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February 22 2021 - NRS Insights
New ERISA Prohibited Transaction Exemption (PTE) Effective February 16
The US Department of Labor (DOL) announced that Prohibited Transaction Exemption (PTE) 2020-02, which governs conduct by 3(21) ERISA fiduciaries (generally those who provide non-discretionary advice for a fee), took effect on February 16, 2021. (Under Section 4975 of the Internal Revenue Code, this also applies to persons who provide non-discretionary advice to IRAs.)
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January 4 2021 - NRS Insights
SEC Division of Examinations Will Conduct More Focused Reg BI Examinations Beginning January 2021
Almost six months since Regulation Best Interest’s (“Reg. BI”) compliance date, the Division of Examinations (“Division”) (formerly the “Office of Compliance Inspections and Examinations” or “OCIE”) announced its intent to begin conducting more focused examinations for compliance with Reg. BI in January 2021.
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November 23 2020 - NRS Insights
SEC OCIE Observations: Investment Adviser Compliance Programs
On November 19, 2020 the U.S. Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a risk alert discussing observations on Investment Adviser Compliance Programs. The Risk Alert discusses notable, but not new, compliance issues identified by OCIE dealing with Rule 206(4)-7, the Compliance Rule. What does this mean? OCIE Staff […]
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