Cipperman Compliance Services Blog
7 FOLLOWERS
Our take on important compliance related information. Cipperman Compliance Services provides chief compliance officer services to money managers, registered funds, family offices, private equity firms, broker-dealers, and regulated fintech companies.
Cipperman Compliance Services Blog
2y ago
The SEC’s Division of Examinations reviewed 16% of registered investment advisers in fiscal 2021 and, overall, about 70% of examined registrants received a deficiency letter and 6% of those
The post SEC Examined 16% of Advisers and Referred 6% to Enforcement in 2021 appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
FINRA will not prosecute Chief Compliance Officers for failure to supervise, unless the CCO has been delegated specific supervisory responsibilities, according to a recently published Regulatory Notice (22-10). Calling
The post FINRA Refrains from Charging Chief Compliance Officers with Failure to Supervise appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
A managing partner of a bankrupt private equity fund was barred from the industry and agreed to cooperate with the SEC in connection with misappropriation and misrepresentations about use
The post Private Equity Exec Failed to Resign or Report Firm’s Fraud appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
An unregistered venture capital fund manager agreed to reimburse its funds $4.7 Million and pay a $700,000 fine for overcharging the funds. The fund manager disclosed that it would impose
The post Exempt Venture Capital Manager Pays $5.4 Million for Overcharging Clients appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
SEC Commissioner Allison Herren Lee is advocating for the imposition of lawyer professional standards and supervision analogous to the PCAOB infrastructure for auditors. Citing the SEC’s obligation to adopt
The post SEC Commissioner Wants PCAOB-like Standards and Structure for Lawyers appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
An adviser/mutual fund manager agreed to pay over $30 Million, including a $5.5 Million fine, and retain an independent compliance consultant, for failing to fully disclose that it would
The post Adviser Fined for Investing Client Assets in Proprietary Mutual Funds appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
A dual registrant agreed to pay over $4.6 Million in disgorgement, penalties, and interest in connection with receiving payments from a third-party clearing broker even though the firm reorganized and
The post Former Dual Registrant Pays $4.6 Million for Clearing Broker Payola appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
The SEC has proposed new Section 13 reporting for short sales. The new rule would require investment advisers to report monthly short sale data, which the SEC would then
The post SEC Proposes Short Sale Reporting for Advisers and Fund Managers appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
The former founder and CIO of a mutual fund and hedge fund faces civil and criminal charges for manipulating valuations. Although the firm used a third-party pricing service, the
The post SEC Accuses Founder/CIO of Manipulating Valuations appeared first on Cipperman Compliance Services ..read more
Cipperman Compliance Services Blog
2y ago
The SEC fined a large crypto platform $50 Million (in addition to $50 Million to 32 states) for failing to register under the Securities Act and the Investment Company
The post Crypto Platform Fined $100 Million for Failing to Register with the SEC appeared first on Cipperman Compliance Services ..read more