You may be exempt from Reg SCI, but you still need SCI!

What’s Happening? On November 19, 2014 the Securities and Exchange Commission (SEC) voted to adopt new rules designed to strengthen the technology infrastructure of the US securities markets, requiring entities to have comprehensive policies and procedures in place for market impacting technologies. These Regulations for Systems Compliance and Integrity, dubbed “Reg SCI” in the financial… READ MORE

SEC Scrutinizing Private Equity Performance Figures

By George Jennison What is Happening: The alternative investment industry is under pressure to simplify its fee and expenses structures, making their performance figures more intelligible to investors. As part of this increased scrutiny, the SEC is now examining how private equity firms report how they calculate average net returns in past funds in their… READ MORE

SEC Releases Findings of Broker Dealers Involved in Sale of Securities of Microcap Companies

By: Evan Rosser What’s Happening: On October 9, 2014, the SEC released findings from its examination of 22 broker-dealers identified as being frequently involved in the sale of the securities of microcap companies. Specifically, the SEC evaluated compliance with the firms’ obligations to (1) perform a “reasonable inquiry” in connection with customers’ unregistered sales of… READ MORE