SEC

The federal regulator reopens the comment period for its rule on safeguarding client assets in response to its new auditing requirement for private funds.

Commissioner Hester Peirce warns an unintended consequence of the new regulation could be less thorough internal compliance reviews.

One provision of the six-part package applies to all registered advisory firms, and compliance experts say the guidelines could prove costly for smaller companies.

The Wall Street regulator tweaked how it handles frequent inspections after the GAO uncovered shortcomings in its practices two years ago.

Compliance experts warn that financial advisors should prepare for new requirements relating to ESG, custody, cybersecurity, private funds and many other issues.

The proposal to replace in-person inspections still drives a wedge between investor advocates and brokerage industry groups.

Thomas M. Chadwick steered older adults into a volatile leveraged real estate product nearly wiped out by the pandemic, according to state regulators.

The move comes amid predictions that clients will increasingly base wealth management decisions on online testimonials and ratings.

A prominent compliance consultant lists the top reasons firms turn to outside experts for regulatory assistance.

The firm told the SEC years ago about employees' ability to improperly access certain information, though it had no evidence anyone had done so.