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 its full 70 years! A subscription to IA ACT Unwrapped is offered on two levels.

IA ACT Unwrapped Level 1 is designed for daily use by Investment Adviser Compliance Officers and Legal Staff. Level 1 offers matrix-based navigation to all current and proposed rules promulgated under the Advisers Act, with links to: adopting and amending rule releases; pertinent no-action letters; a description of the requirements of each rule written in plain-English format; as well as a discussion of associated risks; disclosure and recordkeeping requirements; considerations when testing your firm's compliance under each particular rule; and definitions of associated terms. The complete text of the Advisers Act is also offered in Level 1. More information…

If you have any questions, please contact Brightline Solutions by emailing us at Info@BrightlineSolutions.com or by calling 860-672-4433. To purchase IA ACT Unwrapped Level 1, please click here.

“Simplicity is the ultimate sophistication.” ~Leonardo da Vinci

IA ACT Unwrapped Level 2 is designed to address the more complex needs of Securities Attorneys and the Compliance Staff of larger firms. In addition to all of the information provided in the Level 1 matrix, Level 2 offers several extensive relational databases of information, including 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. This database of over 3,100 Releases is maintained current-to-the day.

Level 2 also offers access to an extensive No-action Letter Database of all recent and significant letters issued by the SEC's Division of Investment Management. Sort the letters by name, date, or by reference to the rule under which relief was sought.

Our Level 2 Enforcement 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 Level 2 Release Database, No-Action Letter Database and Enforcement Database are all full-text searchable.

The Level 2 Examination Database contains sample SEC Document Request Lists, Examination Brochures, Sample Sweep Letters, and information from OCIE and the SEC's CCOutreach program.

Our Advisers Act Database offers access to the current version of the Act, including all recent amendments mandated under The Dodd-Frank Wall Street Reform and Consumer Protection Act.

Our extensive Glossary & Definitions Database provides wide-ranging information on a multitude of topics relevant to the investment adviser world, and beyond.

If you have any questions, please contact Brightline Solutions by emailing us at Info@BrightlineSolutions.com or by calling 860-672-4433. To purchase IA ACT Unwrapped Level 2, please click here.

Headline News

IA Ordered to Pay $2.5 Million to Clients Related to Mutual Fund Share Class Selection Violations

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SEC Charges Morgan Stanley for Recommending Unsuitable Municipal Bond Transactions

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Investment Adviser Principal and Agency Cross Trading Compliance Issues

New OCIE Risk Alert

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SEC Monitoring Impact of Hurricane Dorian on Capital Markets

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RSM US LLP Charged With Violating Auditor Independence Rules

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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-5358 In the Matter of Marcos Tamayo and Bored at Work Retirement Services, LLC

IA-5357 In the Matter of David R. Gibson

IA-5356 In the Matter of Sigma Planning Corp.

IA-5355 In the Matter of Jay Daniel Seinfeld

IA-5351 In the Matter of Tyler T. Tysdal, et al

IA-5350 In the Matter of Michael A. DeJager

IA-5349 In the Matter of Stifel, Nicolaus & Company, Incorporated

IA-5348 In the Matter of BMO Capital Markets Corp.

IA-5347 In the Matter of Prudential Financial, Inc.

IA-5346 In the Matter of AST Investment Services, Inc. and PGIM Investments LLC

IA-5344 In the Matter of ED Capital Management and Elliot Daniloff

IA-5343 In the Matter of Mitchell T. Yanow

IA-5342 In the Matter of Daniel T. Levine

IA-5354 In the Matter of Morgan Stanley Smith Barney, LLC

IA-5353 In the Matter of Raymond James Financial, Inc.  

IA-5352 In the Matter of Raymond James & Associates, Inc., et al

IA-5345 In the Matter of Garrison Investment Group, LP and Garrison Capital Advisers, LLC

LR-24595 SEC v. Dean Patrick McDermott, McDermott Investment Advisors, LLC, et al

IA-5341 In the Matter of William M. Apostelos

IA-5340 In the Matter of Carol Ann Pedersen

LR-24589 SEC v. Strategic Capital Management, LLC and Michael J. Breton

Form CRS Relationship Summary - Amendments to Form ADV
A Small Entity Compliance Guide

Added to the IA Act UnwrappedTM Examination Tools Database/2019 Information and to the Plain English Description Tab under Regulatory Database Rule 204-5

LR-24586 SEC v. E. Herbert Hafen

Investment Adviser Principal and Agency Cross Trading Compliance Issues
OCIE Risk Alert added to the IA Act UnwrappedTM Examination Tools Database and to Regulatory Database Rule 206(3)-2 Risks Tab

IA-5339 In the Matter of Eric Larson Sampson

IA-5338 In the Matter of Mitchell J. Friedman

IA-5337 In the Matter of Karen McKinley

IA-5336 In the Matter of  Lefavi Wealth Management, Inc.
Added to the IA Act UnwrappedTM Releases Database and linked to the term "best execution" in the Glossary & Definitions Database

IA-5335 In the Matter of Thomas C. Muldoon

IA-5334 In the Matter of Charles Myrick Winstead

LR-24581 SEC  v. Cetera Advisors, LLC

LR-24580 SEC v. Cambridge Capital Group Advisors, LLC, et al

IA-5333 In the Matter of EMS Capital LP

IA-5332 In the Matter of Stephen C. Browere

IA-5331 In the Matter of RSM US LLP (f/k/a McGladrey LLP)

IA-5330 In the Matter of Laurel Wealth Advisors, Inc.

IA-5329 In the Matter of Joseph C. Buchanan

LR-24574 SEC v. Motty Misrahi et al

IA-5328 Regulatory Flexibility Agenda

IA-5327 In the Matter of Patrick L. O’Connor

IA-5326 In the Matter of Yehuda Belsky, AKA "Jay Bell"

IA-5325 Commission Guidance Regarding Proxy Voting Responsibilities of Investment Advisers
Added to the IA Act UnwrappedTM Releases Database and to Interpretive Releases under Regulatory Database Rule 206(4)-6

34-86721 Commission Interpretation and Guidance Regarding the Applicability of the Proxy Rules to Proxy Voting Advice
Exchange Act Release linked to IA Act UnwrappedTM Regulatory Database Rule 206(4)-6 Proxy Voting Description Tab

SEC Clarifies IA’s Proxy Voting Responsibilities and Application of Proxy Rules to Voting Advice 
Information added to the IA Act UnwrappedTM Regulatory Database Rule 206(4)-2 Plain English Description Tab

IA-5324 In the Matter of Financial Sherpa, Inc. and James L. Beyersdorf

IA-5323 In the Matter of Thomas Gillons

Request for amendment to Form ADV, Part 1A, Item 5, Section E
Public Petition for Rulemaking linked to IA Act UnwrappedTM Regulatory Database Rule 204-1 Plain English Description Tab

IA-5322 In the Matter of Christopher D. Dougherty

LR-24563 SEC v. Craig Rumbaugh, Rumbaugh Financial Inc., and Desert Strategic Equity, LLC

IA-5321 In the Matter of Chris Kubiak

IA-5320 In the Matter of Michael J. Frew

IA-5319 In the Matter of MVP Manager LLC

IA-5318 In the Matter of Jeremy Joseph Drake

IA-5317 Notice of Intention to Cancel Registrations of Certain Investment Advisers

IA-5316 In the Matter of Sean Kelly

IA-5315 In the Matter of JDC-JSC LP

IA-5313 In the Matter of Kendall J. Groom, CPA

IA-5314 In the Matter of The Robare Group, Ltd., Mark L. Robare, and Jack L. Jones, Jr.

LR-24550 SEC v. Commonwealth Equity Services, LLC

IA-5312 In the Matter of Jonathan Brosk

IA-5311 In the Matter of Christopher Plaford
LR-24548 SEC v. Christopher Plaford

IA-5310 In the Matter of Timothy M. Rooney, Sr.

IA-5309 In the Matter of John Sherman Jumper

IA-5308 In the Matter of William Harper Minor, Jr.

IA-5307 In the Matter of N. Gary Price

IA-5306 In the Matter of Foundations Asset Management, LLC, Michael W. Shamburger, and Rob E. Wedel

Observations from Examinations of Investment Advisers - Compliance, Supervision, and Disclosure of Conflicts of Interest
OCIE Risk Alert
Added to the IA Act UnwrappedTM Examination Tools Database/2019 Information

IA-5305 In the Matter of Account Management, LLC, Christopher de Roetth and Peter de Rotth

IA-5304 In the Matter of Henry J. Wieniewitz, III

IA-5303 In the Matter of Swapnil Rege

IA-5296 Release Intentionally Omitted by SEC

LR-24539 SEC v. Paul Alar and West Mountain, LLC

IA-5302 In the Matter of Salus, LP et al.

LR-24533 SEC  v. Richard Vu Nguyen, et al.

Staff Statement on Opportunity Zones: Federal and State Securities Laws Considerations  
SEC and NASAA Explain Application of Securities Laws to Opportunity Zone Investments 
Added to the IA Act UnwrappedTM Examination Tools Database/2019 Information