SEC Deficiency Letters Require Swift Action

On the topic of SEC Deficiency Letters, if you have received one, you must promptly take corrective action. The SEC will not tolerate inappropriate delay. The SEC recently imposed an $8 million civil penalty on an adviser who, among other things, failed to promptly take corrective action in its Form ADV filing, following receipt of a Deficiency Letter that described omissions and misstatements in Form ADV Part 2A and Part 2B.

If you have not let Ascendant help you develop your Compliance Program and prepare for your SEC Exam, it is not too late. Let us assist you in responding to the SEC’s Deficiency Letter.  Our staff can assist you on an expedited basis, and help you avoid an Enforcement Action.

Post by Eugenie Warner


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CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.

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