MyComplianceOffice Blog

Financial institutions never faced as many challenges as during Covid-19. In order to face heightened risk and compliance challenges many firms had to recognize that innovative solutions are essential in all areas of the business.

The main compliance issues facing firms during COVID-19 includes the supervision of employees and business continuity amid uncertainty. The SEC Office of Compliance Inspections and Examinations (OCIE) released a risk alert on August 12 to share some observations with registered firms, investors, and the public generally.

Companies in financial services have an elevated risk of encountering conflicts of interest, due largely to the influence and connections that come with the territory. This article will tell you how to identify and manage conflicts as they arise.

The Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) recently published the Risk Alert Observations from Examinations of Investment Advisers Managing Private Funds. 

The Risk Alert covers three general areas of deficiencies that the OCIE has identified in examinations of private fund advisers: conflicts of interest, fees and expenses, and policies and procedures relating to material non-public information (MNPI). The alert outlines concerns and compliance issues observed during examinations of registered investment advisers that manage private equity funds or hedge funds—and serves notice that the SEC will continue to put a high priority on customer well-being.

At the beginning of the Covid-19 crisis, the FCA released a statement, where the regulator has shown its concerns regarding companies’ capacity to fight against market abuse considering the context of new working conditions. Earlier, the FCA’s Executive Director of Enforcement and Market Oversight at the FCA, Mark Steward gave a speech on market integrity and how the regulator has been approaching and investigating market abuse cases.