By Kyle Brasseur2023-09-07T13:26:00
How the Securities and Exchange Commission (SEC) determines which investment advisers to inspect and what areas those examinations typically cover were among subjects addressed in a new risk alert released by agency staff.
The alert, published Wednesday, seeks to help advisers prepare for a potential examination and ensure their compliance efforts meet the expectations of the SEC’s Division of Examinations. It included an attachment detailing the types of initial information SEC staff might request to receive electronically at the outset of an exam.
The SEC’s risk assessment process is dynamic and continuously refined, the alert said, but staff consider certain firm-specific risk factors when selecting advisers for examination, including:
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The Securities and Exchange Commission wants broker-dealers and certain clearing agencies to know the expectations for the reduction of the settlement cycle for national and international trades from two business days after the trade date to one day.
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A new risk alert from the Securities and Exchange Commission highlighted common deficiencies and weaknesses in the compliance programs of security-based swap dealers.
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Broker-dealers complying with anti-money laundering/countering the financing of terrorism requirements put forward by the SEC must be mindful of the resources they are providing for their programs during the current heightened risk environment.
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More than half of all compliance teams are “actively using” or “piloting” AI applications, according to a Moody’s report. While most are focusing on streamlining routine tasks, some are developing AI agents and asking vital questions about AI decision-making.
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The Trump administration’s designation of Mexican cartels as terrorist organizations in February has made doing business in Mexico riskier than ever before for corporations.
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Bank examiners at the Federal Reserve Board will no longer assess reputational risk during examinations, a concession to the banking industry already underway with two other U.S. regulators.
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