RIA Compliance. Recently, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a risk alert outlining certain compliance risk and considerations for SEC-registered broker dealers and registered investment advisors during the COVID-19 pandemic. The pandemic has created uncertainty among firms regarding how they should comply with their regulatory requirements while members of their firm may be working from home.
To help firms address some of this uncertainty, OCIE made a number of observations and suggestions that broadly address the following areas:
(1) protection of investors’ assets;
(2) supervision of personnel;
(3) practices relating to fees, expenses, and financial transactions;
(4) investment fraud;
(5) business continuity;
(6) the protection of investor and other sensitive information.
The Risk Alert is provided with this link. I encourage all registered investment advisors to read the Alert and remain vigilant with your firm’s practices during these uncertain times. If you need assistance with your RIA Compliance contact us today for a free consultation!