The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released a national exam program risk alert concerning investment advisers and funds that outsource their chief compliance officers (“CCOs”).  Rule 206(4)-7 under the Investment Advisers Act of 1940 (the “Advisers Act”) and Rule 38a-1 under the Investment Company Act of 1940 (the “Investment Company Act”) require … Continue Reading