Upcoming Regulation S-ID Compliance Date on November 20, 2013

November 7, 2013

Compliance with the recently enacted Regulation S-ID will become mandatory for certain entities that are subject to Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) jurisdiction (including certain registered investment advisers, commodity trading advisers and commodity pool operators) beginning this month on November 20, 2013. It is important that entities for which Regulation S-ID applies develop and implement written identity theft programs prior to the compliance date. The programs must be designed to detect identity theft “red flags” and prevent and mitigate such identity theft in connection with the opening of a covered account or any existing covered account. For more information on Regulation S-ID, including which entities will be subject to the regulation, please see our prior client memorandum entitled “SEC and CFTC Adopt Identity Theft Red Flags Rules” (May 2, 2013).


If you have any questions regarding compliance with the information discussed above, please contact your Investment Management Group attorney at Seward & Kissel.  The Firm also offers a range of compliance support services.


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