Watch Out For Custody And Compliance Rule Sanctions

Law360, New York (November 22, 2013, 7:55 PM EST) -- The U.S. Securities and Exchange Commission recently announced sanctions against six investment advisory firms that, taken as a whole, highlight two continued areas of focus for the SEC: compliance program deficiencies, and violations of the “custody rule.” Firms should expect that these issues will remain a staple of regulator scrutiny.

Taken as a whole, the cases demonstrate that the SEC is concerned with ensuring that each firm maintains a robust compliance program that is reasonably designed to address areas of risk and ensure orderly operation, and...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.