OCIE Risk Alert Highlights Concerns Associated with Coronavirus Pandemic

The SEC’s Office of Compliance Inspections and Examinations (OCIE) has issued a risk alert (Alert) on compliance risks for investment advisers and broker-dealers associated with the coronavirus pandemic, including protection of investor assets; supervision; fees and expenses; fraud; business continuity; and protection of sensitive information. The Alert is an important reminder of advisers’ fundamental compliance duties, the specific compliance challenges that have arisen during the pandemic and where OCIE is focusing its attention. This article highlights the key provisions of the Alert. See our coverage of OCIE risk alerts on private fund managers; the transition from LIBOR; Regulation Best Interest and Form CRS; electronic messaging; the cash solicitation rule; best execution; fees and expenses; the advertising rule; compliance topics; custody; cybersecurity; business continuity and disaster recovery plans; and social media.

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