Clarity and Understanding for the Workplace

IA Act Unwrapped

IA ACT Unwrapped™ is designed specifically to address the daily needs of Investment Adviser Compliance Officers and Securities Attorneys. This subscription-based regulatory library contains information related to the Advisers Act since its inception in 1940. No other company provides a complete, concise directory of information related to the Advisers Act spanning over 70 years! All of our information is housed within the IA Act Unwrapped™ Databases – and our information is updated daily so you will always have access to the most current information available anywhere!

Compliance Strategy Chart

A subscription to IA ACT Unwrapped™ offers you access to the following databases

Regulatory Database Advisers Act Rules Advisers Act Releases
Advisers Act No-Action Letters Enforcement Cases
Examination Tools Glossary & Definitions Search

The IA Act Unwrapped™ REGULATORY DATABASE is designed for daily use by Investment Adviser Compliance Officers and Legal Staff. The Regulatory Database offers matrix-based navigation to all current and proposed rules promulgated under the Advisers Act.

As shown above, in the Regulatory Database every Rule under the Advisers Act is setup with tabs of the following information:

In addition to the matrix-format of the Regulatory Database, IA Act UnwrappedTM contains the following Databases with specific resources.

The IA Act Unwrapped™ ADVISERS ACT RULES Database reflects the current-to-the-day version of the Rules, with historical links to adopting, amending and interpretative Releases. Any pending proposed amendments to the Rules are clearly marked.

The IA ACT Unwrapped™ RELEASES Database contains every Release promulgated under the Investment Advisers Act – from Release IA-1 issued in 1940 through all current Releases, shown in both full and summary format, categorized by type. No other resource offers access to a summary and full text of every Release every issued. This database of almost 4,000 Releases is maintained current-to-the day. These Releases are all full-text searchable.

The IA ACT Unwrapped™ ADVISERS ACT Database contains the complete text of the Investment Advisers Act of 1940, including all recent amendments as mandated under The Dodd-Frank Wall Street Reform and Consumer Protection Act.  It is interesting to note that the SEC’s website does not contain the content of the Advisers Act, but rather links to the Act at another outside source.

The extensive IA ACT Unwrapped™ NO-ACTION LETTER Database contains recent and significant letters issued by the SEC's Division of Investment Management for requests for relief under the Advisers Act. In this Database, you may sort the letters by name, date, or by reference to the rule under which relief was sought.

The IA ACT Unwrapped™ ENFORCEMENT CASE Database contains litigation releases, initial decisions and cases that played a significant role in the history of investment adviser compliance, such as Capital Gains, Arlene Hughes, Steadman, Goldstein, etc.

The IA ACT Unwrapped™ EXAMINATION TOOLS Database contains sample SEC Document Request Lists, Examination Brochures, Sample Sweep Letters, Speeches, Guidance and information from the Division of Investment Management, OCIE, the SEC’s National Exam Program (NEP) and the SEC's Compliance Outreach Program. Our database also lists current Examination Focus areas.

Our IA ACT Unwrapped™ GLOSSARY & DEFINITIONS Database provides wide-ranging information on a multitude of topics relevant to the investment adviser world, and beyond. The Database shows where a term is used, e.g. in Form ADV or Form PF, and also links to significant Cases and Releases that give further information on the importance of the term in specific context.

IA ACT Unwrapped™ contains a very sophisticated SEARCH capability. The Release Database, No-Action Letter Database and Enforcement Database are all full-text (not just “keyword”) searchable. Search by any word and find what you need – instantly!

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Unwrap the mystery of compliance under the Advisers Act. A Subscription to IA Act UnwrappedTM gives you access to all the information you need – any time – any day.

Headline News

IA Settles Charges for Custody Rule Violations
IA Advises Two Private Equity Funds
Read more...

Most Frequent Best Execution Issues Cited in Adviser Exams
OCIE Issues Risk Alert
Read more...

IAs and Reps Charged for Violating Testimonial Rule Using Social Media & the Internet
Five Separate Settled Proceedings - Marketing Consultant Also Charged
Read more...

SEC Charges Charles Schwab with Failing to Report Suspicious Transactions
Failed to file SARs on suspicious transactions of independent investment advisers
Read more...

Updates

Brightline Solutions updates IA Act UnwrappedTM on a daily basis. Recent updates are listed below. Click HERE for a more detailed summary of the information.

IA-4975 In the Matter of Beverly Hills Wealth Management, LLC and Margaret Mulligan Black

IA-4973 In the Matter of Michael Devlin

LR-24206 SEC v. Temenos Advisory, Inc., and George L. Taylor

IA-4972 In the Matter of Joseph Pinkney Davis III

IA-4971 In the Matter of James M. Unger

IA-4970 In the Matter of New Silk Route Advisors, LP
Added to the IA Act UnwrappedTM Releases Database and  the Risks/Significant Cases Tabs under Regulatory Database Rules 206(4)-2 & 206(4)-7

IA-4969 In the Matter of Cornelius Peterson

LR-24205 SEC  v. John Geraci

IA-4968 In the Matter of Norman M.K. Louie and Mount Kellett Capital Management, LP

IA-4967 In the Matter of John B. Engebretson

Compliance Issues Related to Best Execution by Investment Advisers 
OCIE National Exam Program Risk Alert (July 11, 2018)
Added to the IA Act UnwrappedTM Examination Tools Database/2018 Information

IA-4960 In the Matter of Oaktree Capital Management, L.P.
IA-4959 In the Matter of EnCap Investments, L.P.
IA-4958 In the Matter of Sofinnova Ventures, Inc.
Pay to Play Rule 206(4)-5 violations
Censured and ordered to pay civil monetary penalties varying from $100,000 to $500,000

IA-4966 In the Matter of Ralph Willard Savoie

IA-4965 In the Matter of Romano Brothers & Company
Added to the IA Act UnwrappedTM Releases Database and to Risks/Significant Cases under Regulatory Database Advertising Rule 206(4)-1

IA-4964 In the Matter of Leonard S. Schwartz
Added to the IA Act UnwrappedTM Releases Database and to Risks/Significant Cases under Regulatory Database Advertising Rule 206(4)-1

IA-4963 In the Matter of HBA Advisors, LLC, and Jaime Enrique Biel

LR-24189 SEC v. Charles Schwab & Co., Inc.

IA-4956 In the Matter of Eugene Terracciano

IA-4955 In the Matter of Roger S. Zullo

IA-4954 In the Matter of Michael Johnson

LR-24187 SEC v. The Owings Group, LLC, et al.

Regulation of Investment Advisers by the U.S. Securities and Exchange Commission  
Robert E. Plaze, Partner, Proskauer Rose, LLP (June 2018 update)
Added to the IA Act UnwrappedTM Examination Tools Database/2018 Information & linked to Regulatory Database Plain English Description Tabs