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The BD/IA Regulator Providing securities regulatory, enforcement and litigation trends for broker-dealers, investment advisers and investment funds

Tag Archives: Securities and Exchange Commission

SEC Proposes to Update Longstanding Investment Adviser Advertising and Solicitation Rules

Posted in Investment Adviser Regulation

The Securities and Exchange Commission (SEC) proposed amendments to both the advertising rule and the cash solicitation rule under the Investment Advisers Act of 1940 (the “Advisers Act”) on November 4, 2019. Neither rule — adopted in 1961 and 1979, respectively — has been amended significantly since it was adopted, although the SEC and its… Read More

SEC and PCAOB Combine Their Focusses on Broker-Dealer Audits and Independence in Settlements with Fifteen Audit Firms

Posted in Broker-Dealer Regulation, SEC Enforcement

On December 8, 2014, the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) announced settlements with fifteen audit firms for violating independence rules applicable to auditors of broker-dealers.  The PCAOB sanctioned seven firms for violating independence rules when those firms prepared the financial statements of brokerage firms that were also their… Read More