RBC settles internal controls case with SEC, OSC, AMF
According to the SEC’s order, from 2008 through 2020, RBC’s spending on software development ramped up, but the “development of its control environment did not keep pace, and internal accounting…
SEC Adopts New Private Fund Adviser Rules
August 29, 2023 Time to Read: 36 minutes Practices: Asset Management, Regulatory Compliance for Private Funds Printer-Friendly Version The SEC…
Wells Fargo overcharged nearly 11,000 investment accounts with advisory fees, SEC alleges
New York CNN — For years, Wells Fargo overcharged almost 11,000 investment advisory accounts about $27 million in fees, federal regulators alleged on Friday. The Securities and Exchange Commission said…
SEC Proposes Custody Rule Overhaul With Broad Implications for Investment Advisers, Custodians, and Independent Public Accounting Firms | K&L Gates LLP
On 15 February 2023, the Securities and Exchange Commission (SEC) announced a proposed overhaul of the custody framework for SEC-registered investment advisers (investment advisers). The proposed reforms—which would amend and…
SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
March 20, 2023 Time to Read: 32 minutes Practices: Asset Management Printer-Friendly Version On February 15, 2023, the SEC issued a release…
SEC Proposes Rule On Outsourcing By Investment Advisers – Securities
Overview On October 26, 2022, the Securities and Exchange Commission (“SEC”) proposed Rule 206(4)-11, a new rule (“Proposed Rule“) under the Investment Advisers Act of 1940 (“Advisers Act”) that would…