- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2024-06-06T19:22:00
A risk alert from the Securities and Exchange Commission (SEC) listed top reasons why a registered broker-dealer might be the subject of an examination, with factors including length of time since the last exam, prior violations, a whistleblower tip, supervisory concerns, and/or signs of financial stress.
The risk alert, published Wednesday by the SEC’s Division of Examinations, attempted to answer the question, “Why us?” as it relates to registered broker-dealers being chosen to be the subject of a supervisory examination by the agency.
The alert also attempted to answer a second question: “Why now?”
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Examiners with the Securities and Exchange Commission found investment advisory firms have generally done well creating processes to comply with the agency’s amended marketing rule but some have fallen short in ensuring compliance.
The Securities and Exchange Commission’s 2023 examination priorities report laid out areas under the microscope this year, including compliance with the agency’s Marketing Rule and Regulation Best Interest.
The Securities and Exchange Commission issued a risk alert listing deficiencies its examiners found in broker-dealers’ compliance with Regulation Best Interest.
A nationwide rental outlet affiliated with Rent-a-Center and its chief executive have been sued by the Consumer Financial Protection Bureau for allegedly deceiving five million consumers about the terms of credit agreements.
A lack of risk visibility is causing companies to reject customers–and potentially lose money–over fears they might be in danger of violating rules around anti-money laundering and sanctions regulations.
The Treasury Department’s Financial Crimes Enforcement Network updated an alert first issued in February warning financial institutions of Israeli extremists fomenting violence in the West Bank.
