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

IM Posts New Q&A Regarding the Pay to Play Rule
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IA Settles with SEC for Improperly Allocating Expenses to its Private Equity Fund Clients
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Outsourced CCO Sanctioned, Suspended and Fined for False Form ADV Filings
Relied on Estimates from CIO Not Verified for Accuracy
Read more...

False ADV Filings & Failure to Maintain Books & Records
CCO Responsibilities Outsourced, but Lamm - as COO and CCO's direct supervisor - still liable
Read more...

Amended Form ADV and Other-Than-Annual Amendments Raises Questions
DIM Issues No Enforcement Action Response
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.

Staff Responses to Questions about the Pay to Play Rule 
Updated Q&A regarding Capital Acquisition Brokers (CABs) offers no-action relief
FAQs updated under IA Act UnwrappedTM Regulatory Database Rule 206(4)-5 and added to the Examination Tools Database - 2017 Information

IA-4748 In the Matter of Stephen S. Eubanks

IA-4747 In the Matter of Institutional Investors Advisory Company

IA-4746 In the Matter of Capital Dynamics, Inc.

IA-4745 In the Matter of David I. Osunkwo
Added to the IA Act UnwrappedTM Releases Database and to Regulatory Database Rule 204-2 Risks/Significant Enforcement Cases

IA-4744 In the Matter of Diane W. Lamm
Added to the IA Act UnwrappedTM Releases Database and to Regulatory Database Rule 204-2 Risks/Significant Enforcement Cases

LR-23905 SEC v. Southridge Capital Management LLC, et al.

IA-4743 In the Matter of Coachman Energy Partners, LLC, and Randall D. Kenworthy

Information Update for Advisers Filing Certain Form ADV Amendments
IM Information Update IM-INFO-2017-06 
Added to the IA Act UnwrappedTM Examination Tools Database - 2017 Information, and linked to Regulatory Database Rule 204-1: Form ADV Amendments

IA-4742 In the Matter of Bryan Wayne Anderson

IA-4737 In the Matter of Bradley T. Smegal

IA-4741 In the Matter of Donald J. Lester

IA-4740 In the Matter of Steven V. McClatchey

Observations from Cybersecurity Examinations
OCIE National Exam Program Risk Alert
Summary of observations from OCIE's examinations conducted pursuant to the Cybersecurity Examination Initiative
Added to the IA Act UnwrappedTM Examination Tools Database - 2017 Information

IA-4739 In the Matter of Black Diamond Asset Management LLC and Robert Wilson

IA-4738 In the Matter of John Thomas Capital Management Group, LLC, et al
Order Cancelling Oral Argument

IA-4736 In the Matter of Cadaret, Grant & Co., Inc.

IA-4735 In the Matter of Lynn Tilton, Patriarch Partners, LLC, et al

IA-4734 In the Matter of Columbia River Advisors, LLC, Benjamin J. Addink and Donald A. Foy
Added to the IA Act UnwrappedTM Releases Database and to Risks/Significant Enforcement Cases under Regulatory Database Rule 206(4)-2 Custody

IA-4733 In the Matter of Brian Kimball Case, Bradway Financial, LLC, and Bradway Capital Management, LLC
Added to the IA Act UnwrappedTM Releases Database and to Risks/Significant Enforcement Cases under Regulatory Database Rules 203(m)-1, 206(4)-2, 206(4)-7 & 206(4)-8