On November 19, 2020, the SEC’s Office of Compliance Inspections and Examinations published a risk alert providing an overview of notable compliance issues observed in registered investment advisers’ compliance programs. The alert will serve as a useful checklist for advisers seeking to identify weaknesses in their own compliance programs and preparing for the inevitable SEC examination. Our analysis summarizes this alert and provides several practical take-aways that advisers can consider when reviewing their own compliance policies and procedures.
