SEC Exam Priorities for 2025: What They Mean for Investment Advisers
The Securities and Exchange Commission (SEC) has released its exam priorities for 2025, providing a roadmap for investment advisers to align their compliance programs with the regulator’s expectations. While the political transition under President Donald Trump may result in fewer enforcement actions than under the Biden administration, certain core priorities remain steadfast, regardless of the administration.
Heightened SEC Scrutiny: Investment Advisers' MNPI Policies Under the Microscope
The Securities and Exchange Commission (SEC) is intensifying its scrutiny of investment advisers’ compliance programs, particularly concerning policies and procedures designed to prevent the misuse of material nonpublic information (MNPI). Recent enforcement actions reveal that even well-intentioned but inadequately tailored policies can fall short of regulatory expectations, underscoring the importance of aligning compliance efforts with the unique risks of an adviser’s business activities.
SEC Enforcement on Marketing Rule Violations: RIAs to Pay $1.2M in Fines
The SEC continues to flex its regulatory muscle over Registered Investment Advisors (RIAs) in its latest enforcement action targeting violations of the 2021 marketing rule. Nine RIAs have agreed to pay more than $1.2 million in collective fines for misleading advertising practices. The firms include prominent names like Integrated Advisors Network, Richard Bernstein Advisors, and Abacus Planning Group, each paying six-figure fines to settle charges brought by the commission.