The Securities and Exchange Commission (SEC) plans to host three compliance outreach events regarding the 2024 adoption of amendments to Regulation S-P.
Regulation S-P requires registered broker-dealers, investment companies, and investment advisers to adopt written policies and procedures that address administrative, technical, and physical safeguards for the protection of customer records and information.
At each event, staff from the Divisions of Examinations, Investment Management, and Trading and Markets will discuss the new compliance obligations and what to expect when interacting with an exam team during an examination. They also will answer questions.
“These enhancements to further safeguard consumer’s personal information will benefit both investors and firms; however, we recognize implementation may create challenges associated with compliance,” Keith Cassidy, Division of Examinations acting director, said. “The SEC’s Division of Examinations wants to help firms clearly understand the requirements of implementing the updated Regulation S-P obligations so we can reach the mutually beneficial goal of improving the safeguards that protect investors’ personal information.”
The first event is intended for large firms while the other events are for transfer agents and small firms. The first event will be held Thursday while the other event dates have not been announced. Registration is not required but is encouraged.