Yesterday, the Office of Compliance Inspections and Examinations issued a risk alert related to COVID-19 compliance risks (“Risk Alert”). The Risk Alert applies to both investment advisers and broker-dealers and highlights six categories of compliance risk:
- Protection of investors' assets;
- Supervision of personnel;
- Practices relating to fees, expenses, and financial transactions;
- Investment fraud;
- Business continuity; and
- Protection of investor and other sensitive information.
If you have questions about the Risk Alert, COVID-19 relief, or the regulation of investment advisers or broker-dealers, please feel free to contact us.
By the Investment Management and Broker-Dealer Team at Kilpatrick Townsend & Stockton
While we are pleased to have you contact us by telephone, surface mail, electronic mail, or by facsimile transmission, contacting Kilpatrick Townsend & Stockton LLP or any of its attorneys does not create an attorney-client relationship. The formation of an attorney-client relationship requires consideration of multiple factors, including possible conflicts of interest. An attorney-client relationship is formed only when both you and the Firm have agreed to proceed with a defined engagement.
DO NOT CONVEY TO US ANY INFORMATION YOU REGARD AS CONFIDENTIAL UNTIL A FORMAL CLIENT-ATTORNEY RELATIONSHIP HAS BEEN ESTABLISHED.
If you do convey information, you recognize that we may review and disclose the information, and you agree that even if you regard the information as highly confidential and even if it is transmitted in a good faith effort to retain us, such a review does not preclude us from representing another client directly adverse to you, even in a matter where that information could be used against you.