July 2024, Issue 10
AdvisorAssist
Leader in driving advisor independence, AdvisorAssist provides comprehensive compliance and risk management solutions.
Form N-PX Filing Requirements Looming, Let Us Help!
The U.S. Securities and Exchange Commission (SEC) made significant amendments to Form N-PX reporting requirements, which are particularly impactful RIAs required to file under Section 13(f) of the Securities Exchange Act. These changes are designed to enhance transparency and accountability in proxy voting, particularly on matters of executive compensation, commonly referred to as "Say on Pay." The new rule mandates that Section 13(f) filers provide detailed disclosures of their proxy voting activities, offering valuable insights into how RIAs influence corporate governance.
If you are an Advisor who needs assistance filing your 13(f) or Form N-PX, please reach out to us at [email protected].
Where Are They Now? Proposed Amendments, New Rules, and More!
Semi-annually, the U.S. Securities and Exchange Commission publishes their “Unified Agenda of Regulatory and Deregulatory Actions” relating to various federal agencies. On July 8, 2024, the SEC released their Spring 2024 Current Agenda containing items from the Division of Investment Management, as well as the SEC’s current timing estimates. This agenda focuses on the priorities of Chair Gary Gensler, but can be a valuable tool for an Advisor's CCO. CCO's can look to utilize these agendas to stay apprised of proposed rules, proposed deregulations, and potential timing of these items to gauge the work the Advisor may have ahead of them in regard to policies, procedures, and controls surrounding them!
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Regulation S-P Amendments: Are You Prepared?
The adopted amendments of Regulation S-P have brought new requirements for Advisors to comply with that may not necessarily fall into a CCO's knowledge base. Between the need for an incident response program for cyber intrusions and applicable customer notification requirements, to service provider oversight and additional books and records, the lack of a technology driven background could be damaging to an Advisor's clients and firm as a whole.
AdvisorAssist has the solution with AdvisorDefense and Philip Coniglio , a cybersecurity consulting firm focused exclusively on serving investment advisory firms! Please review their list of services, and for further insight on Regulation S-P, please visit the AdvisorAssist Blog.
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