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Blog Archive

News, updates and analysis from around the world of compliance

The SEC met its stated fiscal year 2016 goal by examining 11 percent of the investment adviser pool, meaning over 1,300 advisers were covered.

New York’s 23 NYCRR 500 Cybersecurity rule goes into effect on March 1, 2017 requiring banks and other financial services companies to establish and maintain a cybersecurity program designed to protect consumers and ensure the safety and soundness of the state’s financial services industry.

The SEC’s Office of Compliance and Examinations (“OCIE”) released its Examination Priorities for 2017 with a focus on “certain practices, products, and services that OCIE perceives to present potentially heightened risk to investors and/or the integrity of the U.S. capital markets.”

In an October 2013 speech that delved into CCO liability, SEC Chair Mary Jo White said, “(a)lthough we do occasionally bring enforcement actions against compliance personnel, compliance officers who perform their responsibilities diligently, in good faith, and in compliance with the law are our partners and need not fear enforcement action.”

With a continued focus on technology tools to filter data and detect illegal conduct in the markets, the SEC announced a record year for enforcement. In fiscal year 2016, it completed 868 total actions, an increase of almost 15 percent over just two years ago.