The SEC Division of Examinations (Exams) recently published a Risk Alert discussing observations on investment adviser fee calculations resulting from a review of approximately 130 firms. This 2021 Risk Alert supplements a prior alert on the same topic that Exams (then, the Office of Compliance Inspections and Examinations) published in 2018.
Continuing the practice of issuing Risk Alerts summarizing examination findings, which has only increased under the leadership of the now departing Division of Examinations (EXAMS) Director Pete Driscoll, on 21 July 2021, EXAMS issued such an Alert on fixed income principal and cross trades by investment advisers, a topic that the SEC Staff has been scrutinizing for some time.
The U.S. Securities and Exchange Commission’s Division of Examinations (Exams) recently issued a Risk Alert discussing observations from recent examinations on how investment advisers, registered investment companies, and hedge funds approach environmental, social, and governance (ESG) investing.
SEC Acting Chair Allison Herren Lee’s comments highlighted the SEC’s various work streams and areas of focus, while also looking ahead to what still needs to be accomplished.