The advisory gives market participants even more opportunity for full enforcement declinations.
Books and Records
“What if we reimagined disclosure using large language models?”
Five firms face administrative monetary penalties after exams found gaps in AML programs and suspicious transaction reporting.
Enforcement
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SEC charges six purported advisers over false Form ADV filings, books-and-records issues
The SEC said the entities claimed specific office locations, assets under management, and private funds that could not be verified.
A Citywire report says that RIAs are reporting softer exams on texts and messaging apps, but compliance teams are not letting their guards down.
SEC alleges former CFO lied to auditors and falsified records to inflate Acreage’s year-end cash balance.
The rule requires broker-dealers, securities-based swap dealers, exchanges, clearing agencies, and other SROs to submit forms in certain electronic formats.
Enforcement
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SEC settles recordkeeping charges with ICBC Financial Services after cyber event
The SEC said the attack affected the business's ability to update its books and records and lose connectivity to its clearing firms and clearing agents.