RIA Compliance and Practice Management Blog

Top RIA Compliance News Articles for the Week of May 24th, 2019

Posted by RIA in a Box

May 31, 2019 3:09:47 PM


SEC cybersecurity exam request list

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the Securities and Exchange Commission ("SEC") finalizing their Regulation Best Interest ("Reg BI") proposal, cybersecurity-focused regulatory exams, and the SEC's emphasis on establishing a robust RIA compliance program. Check back each week for the latest list of top stories.

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Topics: RIA Operations, RIA Compliance, RIA Technology

SEC Cybersecurity Risk Alert Flags Network Storage Issues

Posted by RIA in a Box

May 30, 2019 10:50:48 AM

SEC network storage cybersecurity risk alertOn May 23, 2019, the Securities and Exchange Commission ("SEC") Office of Compliance Inspections and Examinations ("OCIE") released a new risk alert noting that during recent audits, OCIE staff have "identified security risks associated with the storage of electronic customer records and information by broker-dealers and investment advisers in various network storage solutions, including those leveraging cloud-based storage." In particular, OCIE staff has observed that many firms are not making use of available security features offered by network storage providers. As such, the risk alert highlights, "weak or misconfigured security settings on a network storage device could result in unauthorized access to information stored on the device."

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Topics: RIA Operations, RIA Compliance

NASAA Adopts New RIA Cybersecurity Model Rule

Posted by RIA in a Box

May 28, 2019 9:25:03 AM

NASAA RIA cybersecurity rule model

On May 19, 2019, North American Securities Administration Association ("NASAA") members voted to adopt an information security model rule package in an effort to enhance the cybersecurity and privacy practices of state-registered investment advisers. The rule was originally proposed in September 2018 and was open to the public for comments until the end of November 2018.

NASAA's adoption of this new information security model rule package is a clear reminder of continued focus and enforcement around cybersecurity. According to Michael Pieciak, NASAA president and Vermont Commissioner of Financial Regulation, “The new model rule requires investment advisors to adopt policies and procedures regarding information security and to deliver its privacy policy annually to clients.”

Download our 3 Elements of Cybersecurity Infographic

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Topics: RIA Compliance

Top RIA Compliance News Articles for the Week of May 17th, 2019

Posted by RIA in a Box

May 24, 2019 3:23:44 PM


cybersecurity platform for RIA firms

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the new model cybersecurity rule, the Securities and Exchange Commission ("SEC") finalizing their Regulation Best Interest ("Reg BI") proposal, and the Department of Labor's ("DOL") new fiduciary rule.  Check back each week for the latest list of top stories.

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Topics: RIA Operations, RIA Compliance, RIA Technology

Private Funds: The Growth of Mid-Size and Large Private Equity Funds

Posted by RIA in a Box

May 21, 2019 9:21:55 AM

Total number of SEC-registered exempt reporting advisers and private fund advisers

Our recent analysis of publicly available private fund data, including detailed private equity and hedge fund data, published by the Securities and Exchange Commission ("SEC") revealed that SEC-registered exempt reporting advisers and private funds are perhaps the fastest growing segment of the investment adviser industry. In this follow-up post, we take a closer look at the private equity segment within the broader private fund industry. In particular, by using Form PF filing data, we analyze the relative growth in the number of mid-size and large private equity funds and advisers over the past six years from 2013 to 2018.

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Topics: RIA Operations, RIA Compliance

Top RIA Compliance News Articles for the Week of May 10th, 2019

Posted by RIA in a Box

May 17, 2019 3:43:56 PM


cybersecurity platform for RIA firms

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on RIA in a Box's new cybersecurity platform, the need to invest in compliance, and third-party manager diligence. Check back each week for the latest list of top stories.

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Topics: RIA Operations, RIA Compliance, RIA Technology

Introducing the new MyRIACompliance Cybersecurity Platform

Posted by RIA in a Box

May 15, 2019 9:07:37 AM

RIA cybersecurity platformToday, we announced the official release of our new registered investment adviser ("RIA") cybersecurity platform. As cybersecurity continues to be a top regulatory priority, the new MyRIACompliance cybersecurity platform empowers an RIA firm to efficiently construct, implement, and document a robust cybersecurity compliance program with a single solution. The proprietary platform is designed exclusively for RIA firms of all sizes who face unique people, technology, and third party vendor cybersecurity risks and regulatory requirements. The platform is built upon the National Institute of Standards and Technology ("NIST") information security framework and provides security awareness training, email phishing attack simulation, technology inventory and risk assessment, as well as the ability to build a customized information security policy

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Topics: RIA Compliance, RIA Technology

Top RIA Compliance News Articles for the Week of May 3rd, 2019

Posted by RIA in a Box

May 10, 2019 11:53:59 PM

SEC Robare case use of the word may in Form ADV

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the importance of cybersecurity, progress of the Securities and Exchanges Commission's ("SEC") Regulation Best Interest ("Reg BI") proposal, and digital marketing strategies for advisors. Check back each week for the latest list of top stories.

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Topics: RIA Operations, RIA Compliance, RIA Technology

The Untold Growth of Exempt Reporting Advisers and Private Fund RIAs

Posted by RIA in a Box

May 7, 2019 10:24:19 AM

Total number of SEC-registered exempt reporting advisers and private fund advisers

While there are some individual states that require a private fund adviser to register as an exempt reporting adviser ("ERA") or registered investment adviser ("RIA") at the state level, private fund advisers generally register as an ERA with the Securities and Exchange Commission ("SEC") when managing less than $150 million in private fund assets and register as a SEC-registered RIA when managing $150 million or more in private fund assets. Our recent analysis of publicly available private fund data, including detailed private equity and hedge fund data, published by the SEC reveals that SEC-registered exempt reporting advisers and private funds are perhaps the fastest growing segment of the investment adviser industry. 

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Topics: RIA Operations, RIA Compliance

Top RIA Compliance News Articles for the Week of April 26th, 2019

Posted by RIA in a Box

May 3, 2019 3:25:04 PM

SEC Robare case use of the word may in Form ADV

Each week we’re giving you our weekly report highlighting the top compliance news articles from various industry news publications. We have selected the most relevant and important news articles related to registered investment adviser ("RIA") compliance and regulatory issues. This week's recap focuses on the Securities and Exchange Commission ("SEC") Regulation Best Interest ("Reg BI") proposal, malware attacks, and the importance of Form ADV disclosures. Check back each week for the latest list of top stories.

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Topics: RIA Operations, RIA Compliance, RIA Technology

RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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