The Securities and Exchange Commission (SEC) has recently released new or updated rules related to three key areas for asset managers: short positions, securities lending, and beneficial ownership. All three final rules were issued in October of this year with effective dates of early 2024.
The SEC releases its examination priorities every year to provide insight into potential risk areas that might impact investors. Along with the usual focus on compliance with policies and procedures, client suitability standards, etc., the SEC also highlights specific industry concerns related to the current landscape and new or updated regulation.
What it means for a corporate insider or company to act in “good faith” is about to dramatically change when it comes to insider trading.
The National Society of Compliance Professionals (NSCP) recently offered a compelling webinar on the topic of “Allyship” which centers around personally helping marginalized colleagues move more center stage. By marginalized, the focus centers on those within the financial services industry who have historically been excluded from the conversation. The panelists came with thoughtful insights, including one panelist making this incredibly provocative statement: “Cultural fit is over!”
In March of this year, the SEC released its annual announcement of the year’s exam priorities. This year’s priorities include many of the usual standbys: marketing and disclosures, valuation, custody of assets, conflicts of interest, etc. The specifically highlighted priorities also include some trending areas in financial services, like ESG (Environmental, Social, and Governance), crypto assets, and information security/cybersecurity.