On November 19 2020, the U.S. Securities and Exchange Commission (SEC) Office of Compliance Inspections and Examinations (OCIE) held their annual Compliance Outreach Program for Investment Adviser and Investment Company Senior Officers. The virtual event covered a range of compliance-related matters, and included discussions with representatives from OCIE, the SEC's Division of Enforcement (Enforcement), SEC's Division of Investment Management (Investment Management), and the assest mangement industry.
Top 5 takeaways included:
- Ongoing impact of Covid-19
- Formula for CCO's success: empowerment, seniority and authority
- Conflicts of interest present an opportunity for improvement
- Registered funds - regulatory developments, emerging risks and comon staff observations
- Fintech, ESG and retail investors - opportunities for growth but proceed with caution