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

KPMG Paying $50 Million Penalty for Illicit Use of PCAOB Data and Cheating on Training Exams

Read more...

 

SEC Updates List of Firms Using Inaccurate Information to Solicit Investors
Read more...

SEC Adopts Standards of Conduct Rules & Interpretations for BDs & IAs

Firms Must Comply by June 30, 2020
Read more...

 

Hedge Fund Adviser to Pay $5 Million for Compliance Failures Related to Valuation of Fund Assets
SEC states: "Valuation of client assets is a critically important area for 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.

LR-24501 SEC v. David Wagner, Downing Partners, LLC, Downing Investment Partners, LP, Downing Digital Healthcare Group, LLC, and Mark Lawrence

IA-5252 In the Matter of Hugh Dunkerley

Keynote Remarks at the Mid-Atlantic Regional Conference
SEC Chairman Jay Clayton
Added to the IA Act UnwrappedTM Examination Tools Database/2019 Information

LR-24497 SEC v. Kimberly Pine Kitts

LR-24486 SEC v. Syed Arham Arbab, Artis Proficio Capital Investments, LLC, and Artis Proficio Capital Management, LLC

IA-5251 In the Matter of David S. Goulding

IA-5250 In the Matter of Kimberly Pine Kitts

IA-5249 Commission Interpretation Regarding the Solely Incidental Prong of the Broker-Dealer Exclusion from the Definition of Investment Adviser
Interpretation excludes from the definition of “investment adviser” any broker or dealer that provides advisory services when such services are “solely incidental” to the conduct of the broker or dealer’s business and when such incidental advisory services are provided for no special compensation
Added to the IA Act UnwrappedTM Releases Database

IA-5248 Commission Interpretation Regarding Standard of Conduct for Investment Advisers
Added to the IA Act UnwrappedTM Releases Database and linked to the term "fiduciary duty" in the Glossary & Definitions Database

IA-5247 Form CRS Relationship Summary - Amendments to Form ADV
IA-5247 Appendix A New Form ADV (including Form CRS)
IA-5247 Appendix B Instructions
IA-5247 Appendix C Feedback Form Comment Summary

Added to the IA Act UnwrappedTM Releases Database

34-86031 Regulation Best Interest - The Broker-Dealer Standard of Conduct
Added Exchange Act Release & linked to the new term "Regulation Best Interest" in the IA Act UnwrappedTM Glossary & Definitions Database

IA-5246 In the Matter of Christopher M. Lee A/K/A Rashid K. Khalfani

IA-5245 In the Matter of Deer Park Road Management Company, LP and Scott E. Burg

IA-5244 In the Matter of Anthony Savino

IA-5243 In the Matter of Sean D. Premock

IA-5242 In the Matter of Stephen Brandon Anderson

IA-5241 In the Matter of Robert Kenneth Lindell, Jr.

Safeguarding Customer Records and Information in Network Storage –  Use of Third Party Security Features
OCIE Risk Alert added to the IA Act UnwrappedTM Examination Tools Database/2019 Information

IA-5240 In the Matter of Lawrence E. Penn, III

IA-5239 In the Matter of Brian Michael Berger

IA-5238 In the Matter of GL Capital Partners, LLC and GL Investment Services, LLC
Corrected Notice that Initial Decision has become final

IA-5237 Release Intentionally Omitted by SEC

IA-5236 In the Matter of J.S. Oliver Capital Mangement, L.P., and Ian O. Mausner
Added to the IA Act UnwrappedTM Risks/Significant Cases Tabs under Regulatory Database Rules 204-1, 204-2, 206(4)-7 & 206(4)-8 and linked to the terms "cherry-picking" and "soft dollars" in the Glossary & Definitions Database

IA-5235 In the Matter of NeoCap, LLC

IA-5234 In the Matter of Oscar Ferrer Rivera

IA-5233 In the Matter of Jonathan A. Rivera-Padilla

IA-5232 In the Matter of Jeffrey Francis Thompson

IA-5231 In the Matter of Bryan Lee Addington

IA-5230 In the Matter of Ascension Asset Management, LLC and Grenville M. Gooder, Jr.

IA-5229 In the Matter of Corinthian Capital Group, LLC, Peter B. Van Raalte, and David G. Tahan

How We Protect Retail Investors
Speech by OCIE Director Peter Driscoll
Added to the IA Act UnwrappedTM Examination Tools Database - 2019 Information

IA-5228 In the Matter of Paul Peter Gierten

LR-24461 SEC v. Christopher D. Dogherty et al

IA-5226 In the Matter of Charter Capital Management, LLC and Steven Morris Bruce

LR-24458 SEC v. Eric D. Lyons, et al.

IA-5225 In the Matter of Charles Myrick Winstead

LR-24455 SEC v. Motty Mizrahi et al.

IA-5224 In the Matter of Matthew R. Rossi and SJL Capital, LLC

IA & BD Compliance Issues Related to Regulation S-P - Privacy Notices and Safeguard Policies 
OCIE Risk Alert (April 16, 2019) 
Added to the IA Act UnwrappedTM Examination Tools Database/2019 Information

IA-5223 In the Matter of Stanley S. Bae

SECret Garden 
Commissioner Hester M. Peirce at SEC Speaks 2019
Important Issues for Investors in 2019 
Rick Fleming, Investor Advocate at SEC Speaks 2019
Remarks have been added to the IA Act UnwrappedTM Examination Tools Database/2019 Information