“Inconsistent and costly compliance regime resulting from varying state laws” could arguably also be applied to certain state securities laws for RIAs.

The longer I practice law, the more I’m convinced that knowing what questions to ask is more important than knowing what advice to give. The value of the latter is wholly dependent on the acuity of the former. AI has already made it immensely easier to get at least

Please join me in welcoming Carrie Wong as Counsel at Beach Street Legal LLC! Carrie is a corporate and securities law attorney with nearly 15 years of experience in the investment management industry. Prior to joining Beach Street Legal, she worked at Dimensional Fund Advisors

The SEC's Recordkeeping Rule is unnecessarily convoluted when it comes to the duration for which certain records must be retained by advisers. It generally requires an adviser's books and records to be maintained "for a period of not less than five years from the end of the

A few reminders on the recent Reg S-P amendments: — “Small firm” includes an SEC-registered adviser with less than $1.5 billion in AUM — The compliance deadline for small firms is June 3, 2026. — Key additional requirements include: ~ Written policies/procedures to detect,

As originally proposed in Sept 2024, the effective date for imposing anti-money laundering regs on RIAs has been officially extended to Jan 1, 2028. "The two-year delay will provide additional time for FinCEN to review the IA AML Rule and, as applicable, ensure the IA AML Rule

Impermissible hedge clause + missing consent-to-assignment clause + unrecognized custody + failure to follow compliance policies and procedures = SEC administrative proceeding. More specifically, the respondent RIA: ✷ "Required advisory clients to sign investment advisory

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As a reminder, there are 2 steps to the investment adviser annual registration renewal process. The deadline to complete the second step is January 23rd. Step 1: Pay any registration renewal fees incurred as of November 10, 2025 (when your Preliminary Statement was generated).

Advisers that crossed the §13(f) reporting threshold for the first time last year must file their first Form 13F through EDGAR within 45 days of the end of the 2025 calendar year (technically Feb. 17, 2026, since the 45th day falls on a Saturday and the following Monday is a

Phishing attempts and malicious email links seem to spike during tax season. One way to confirm the legitimacy of a link embedded in an email - especially one that runs through tracking redirections that obscure the ultimate website URL the link directs to - is to simply

Nailed it.

The compliance date for SEC-registered RIAs w/ <$1.5B AUM to comply with newly-amended Reg S-P is June 3, 2026. I attended the SEC's recent virtual Compliance Outreach on Reg S-P for "small firms," and have summarized my takeaways below. The Compliance Outreach itself was

The latest edition of On The Docket is out! → beachstreetlegal.com/on-the-docket-… In the latest edition, we cover: — Our Tech Stack MVPs of 2025 — Welcoming Carrie Wong: New Counsel at BSL! — Decoding the SEC’s Recordkeeping Rule: Retention Nuances — Summary Takeaways from the SEC’s

Is the era of "microfilm" and "microfiche" references in the SEC's Recordkeeping Rule coming to an end? ⬇️ "During a recent oversight hearing before the House Financial Services Committee, Chairman Paul Atkins said the agency is examining recordkeeping expectations for digital