Commentary by Steven Lofchie
The SEC Office of Compliance Inspections and Examinations described the scope and content of initial examinations for Regulation Best Interest and Form CRS .
A dually-registered investment adviser and broker-dealer settled SEC charges for failing to disclose conflicts of interest in connection with sources of third-party compensation received through revenue sharing cash sweep payments.
Comments are due by August 16, 2022 for an SEC proposal to enhance disclosure requirements on ESG investment practices. The SEC proposal was published in the Federal Register.
An investment adviser settled SEC charges for disproportionately allocating undisclosed expenses to a private equity fund in connection with a take-private action.
SEC Commissioner Hester M. Peirce urged that the SEC adopt a "liability framework" for the bringing of enforcement actions against CCOs.