Overview of the SEC’s Standards for Resilient and Effective Compliance Programs and Fiduciary Practices (Part Two of Two)

At times, it is valuable for fund managers to take a step back to evaluate the SEC’s actions at a higher level, including the interplay between its examination priorities, risk alerts, rule proposals, regulatory agenda, speeches and enforcement actions. That holistic evaluation can help managers keep their proverbial fingers on the pulse of the SEC’s stance and efforts as to the private funds industry. To assist with that process, the Practising Law Institute hosted a panel that was moderated by Maria Gattuso, principal at Deloitte, and featured Richard Gorman, CCO of Jackson National Asset Management, LLC; Paulita A. Pike, partner at Ropes & Gray; and Maurya C. Keating, Associate Regional Director of the SEC’s New York Regional Office, Co‑Head of the New York Regional Office’s Investment Adviser Investment Company Unit and Co‑Acting Regional Director. This second article in a two-part series details the panel’s insights on compliance program resilience; cybersecurity; standards of conduct and Regulation Best Interest; financial technologies; and CCO liability. The first article evaluated recent SEC examination trends and key items in the SEC’s Division of Examinations’ 2022 priorities such as fees and expenses; valuations and conflicts of interest; special purpose acquisition companies; and environmental, social and governance offerings and disclosures. See our coverage of Examinations’ 2022 Priorities; 2021 Priorities; 2020 Priorities; 2019 Priorities; 2018 Priorities; 2017 Priorities; and 2016 Priorities.

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