SEC Says “Managed Accounts” May Not Provide Safe Harbor from Necessity of Monitoring Personal Securities Transactions for Investment Advisor Employees

In a release published last week, the Division of Investment Management of the SEC issued guidance on the duties of investment advisors (IAs) to monitor personal securities transactions. The SEC pointed out that while a “blind trust” does provide a safe harbor from IAs’ need to monitor personal securities activities, a traditional managed or discretionary… READ MORE