Walé Oriola

Sep 12, 2023 | jdsupra.com | Walé Oriola

The U.S. Securities and Exchange Commission has maintained its focus to monitor and regulate off-channel communications of its registrants as highlighted in recent settlement actions in which the agency charged 11 Wall Street firms with widespread recordkeeping failures. The firms admitted to wrongdoing and agreed to pay combined penalties of $289 million and to remedy their compliance processes and procedures to address these recordkeeping weaknesses.

Jul 27, 2023 | jdsupra.com | Walé Oriola |David Williams

At a Glance The letter addresses potential conflicts of interest that may arise when an asset management company, like BlackRock, both advises mutual funds and holds a stake in a wide range of companies across various sectors. The letter also highlights the critical role independent directors play in policing the conflicts of interest between a fund and the fund’s investment adviser. We provide five key takeaways for mutual fund directors.

May 2, 2023 | jdsupra.com | Walé Oriola

May 2, 2023 To embed, copy and paste the code into your website or blog: The Securities and Exchange Commission (SEC) recently issued a risk alert focusing on the safeguarding of customer records and information at branch offices of registered investment advisers (RIAs) and broker-dealers.

Apr 21, 2023 | jdsupra.com | Walé Oriola

The Securities and Exchange Commission (SEC) recently charged Betterment, a leading robo-adviser, for making misstatements regarding its automated tax loss harvesting service (TLH). Betterment allegedly misled investors about the benefits and effectiveness of the service, which aims to minimize tax liability through strategic sales and repurchases of securities, and fined the company $9 million.