Each month, we publish the Securities Operations Regulatory Update (SORU)
as part of our Regulatory Compliance Service.
The SORU is the premier monthly guide to pending regulatory changes relevant to securities operations. Within it you will find updates on key regulatory issues important to securities operations professionals, helpful synopses to better understand reasoning and implications behind new legislation and regulatory changes, and access to critical information regarding impacts to your compliance programs and regulatory requirements.
In this month’s SORU, our roundup of enforcement matters demonstrates that firms should reassess whether controls in place cover all relevant products subject to regulatory requirements. In addition to trade reporting and other regulatory failures resulting from the unique features of a particular product, firms have paid steep fines for lax controls over mutual fund sales practices.