Stay ahead in the complex world of investment adviser compliance with Investment Adviser Regulation: A Step-by-Step Guide to Compliance and the Law. Covering SEC, state, and statutory standards, the book offers practical insights on registration, disclosure, advertising, cybersecurity, and more. With annual updates and expert guidance on Form ADV, advisory contracts, and best execution practices, it’s a must-have resource for advisers, attorneys, compliance professionals, and regulators.
Highlights of this release include:
- Chapter 14, Privacy of Client Financial Information: An Overview, has been updated to reflect key regulatory developments, including the FTC’s May 2024 amendments to the Safeguards Rule, which now require financial institutions to report certain “Notification Events” (Section 14:2.2[E]). It also covers the NYDFS’s revised Cybersecurity Regulation—effective April 2024 and fully adopted by November 2025—introducing enhanced governance requirements for CISOs, expanded risk assessments, and updated incident response protocols (Section 14:6.3). Additionally, the chapter discusses Bermuda’s Personal Information Protection Act (PIPA), applicable to organizations handling personal data in Bermuda, including fintech firms (Section 14:7.4).
- Chapter 42, Mutual Funds, covers the most recent reporting requirements affecting mutual funds (Section 42:1).
- Chapter 43, Managed Advisory Accounts & Wrap Fee Programs, discusses the SEC’s Division of Examinations April 2024 risk alert that highlights the Division staff’s observations regarding compliance with the Marketing Rule (Section 43:10.2).
- Chapter 54, Municipal Advisor Regulation, features expanded coverage of enforcement actions involving municipal advisors, focusing on both regulatory and fiduciary obligations (Section 54:1.1[A][1]–[A][4]). It also includes deeper analysis of how municipal advisory activities intersect with other professional services offered by advisor firms (Section 54:1.1[E][1]). Updates to MSRB and SEC rule discussions reflect recent rulemaking, including obligations for solicitor municipal advisors and requirements to obtain CUSIP numbers in certain competitive offerings (Section 54:18), along with enhanced guidance on supervisory and recordkeeping duties (Section 54:21).
- Chapter 64, Blockchain and Digital Assets, has been updated to cover regulatory developments involving digital securities (Section 64:6.1) and commodities (Section 64:6.2).
- To aid in your research, the Table of Authorities and Index have been updated.
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