Foreside News

On Wednesday, January 4, 2012, the Securities and Exchange Commission (SEC) issued a risk alert on the evolving topic of social media use by registered investment advisers. Key takeaways from this seven-page alert include the following:

Investment advisers that use or permit the use of social media by their representatives, solicitors and/or third parties should consider periodically evaluating the effectiveness of their compliance program as it relates to social media. Factors that might be considered include usage guidelines, content standards, sufficient monitoring, approval of content, training, etc. Particular attention should be paid to third party content (if permitted) and recordkeeping responsibilities.

Click here to read the full text of the SEC alert.

For more regarding the SEC and social media, see this article on a recent SEC enforcement action against an investment adviser accused of using social media sites, including LinkedIn, to defraud investors.

To learn more about Foreside’s Compliance Services, including social media-related compliance assistance, visit the Compliance Services section of our website.

Foreside is pleased to announce that Susan Mosher, Head of Compliance Services, will present at a panel discussion hosted by the CFA Society of Philadelphia, to be held on October 19, 2011 at The Philadelphia Racquet Club. She will discuss “Dodd-Frank One Year Later: Recent Regulatory Developments for Investment Advisers,” alongside co-presenters Alan R. Gedrich, Esq., Partner, Stradley Ronon Stevens & Young, LLP, and Brian Carroll, Esq., Senior Special Counsel Securities and Exchange Commission.

Click here for more information about this event.

Foreside is pleased to announce that it will be a sponsor at HedgeWorld’s 2011 Fund Services Conference & Expo, to be held at The Metropolitan Club in New York City on October 26, 2011.

In an open meeting on June 22, 2011, the Securities and Exchange Commission (the “SEC”) confirmed earlier statements it had made by officially extending the registration deadline for advisers that are no longer exempt from SEC registration to March 30, 2012. It also adopted a rule defining family offices and further defined the exemption for advisers to venture capital funds.

The SEC has released the text of the final rules, which you can find here.

Foreside is pleased to announce that it will be a sponsor at the 2011 Investment Adviser Association Annual Conference to be held at the Boston Harbor Hotel on April 27th through April 29th.