Form SHL is a five-year mandatory benchmark survey filing commissioned by the Department of the Treasury and administered by the Federal Reserve Bank of New York (“FRBNY”) applicable to all U.S.-resident issuers with foreign...more
8/13/2024
/ Deadlines ,
Filing Requirements ,
Foreign Investment ,
FRBNY ,
Fund Managers ,
Investment Adviser ,
Investment Management ,
Reporting Requirements ,
Securities ,
Securities and Exchange Commission (SEC) ,
TIC-SHL ,
U.S. Treasury
The Securities and Exchange Commission (“SEC”) has announced the adoption of amendments to Regulation S-P (“Amendments”) to modernize and enhance the rules that govern the treatment of consumers’ nonpublic personal...more
5/30/2024
/ Broker-Dealer ,
Customer Information ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Enforcement Actions ,
Incident Response Plans ,
Investment Adviser ,
Notice Requirements ,
Personally Identifiable Information ,
Policies and Procedures ,
Regulation S-P ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
What is the purpose of the Corporate Transparency Act (“CTA”)?
Effective as of January 1, 2024, the Corporate Transparency Act (“CTA”) imposed new federal reporting obligations on certain companies, including potentially...more
- The U.S. Bureau of Economic Analysis (BEA) is conducting its five-year benchmark survey relating to cross-border investment: BE-12 (Survey of Foreign Direct Investment in the U.S.).
- Responses are due by May 31, 2023...more
Earlier this year, the Cayman Islands introduced new registration requirements for:
• Closed-end funds known as “private funds; and
• Open-ended funds known as “limited investor funds” that were previously exempt from...more
The U.S. Bureau of Economic Analysis (BEA) has announced it is once again time for the BEA’s BE-10 Benchmark Survey of U.S. Direct Investment Abroad. The BEA is an agency of the United States Department of Commerce and...more
3/10/2020
/ BEA ,
Benchmarks ,
Bureau of Economic Analysis ,
Cross-Border Transactions ,
Filing Requirements ,
Foreign Affiliates ,
Foreign Entities ,
Outbound Transactions ,
Reporting Requirements ,
Surveys ,
U.S. Commerce Department ,
U.S. Treasury
As you may already be aware, the CCPA goes into effect on January 1, 2020. California’s Attorney General has issued draft regulations under the CCPA and final regulations are expected to be issued shortly. Below are some...more
Investment advisers and managers of private investment funds organized in the Cayman Islands should take note that on September 30, 2019, the Data Protection Law, 2017 (the "DPL"), is set to come into effect....more
Investment advisers, hedge and private fund managers and U.S.-resident entities should review whether they have any filing obligations under Treasury International Capital (“TIC”) Benchmark Form SHL (“Form SHL”). Form SHL is...more
On September 26, in the Securities and Exchange Commission’s (“SEC”) first enforcement action for violations of Regulation S-ID (the “Identity Theft Red Flags Rule”), Voya Financial Advisors Inc. (“VFA”), an SEC-registered...more
Further to our recent Foley Adviser, the Cayman Islands Monetary Authority (CIMA) has clarified today that the deadline for the appointment by a Cayman unregulated fund of an Anti-Money Laundering Compliance Officer (AMLCO),...more
On September 24, 2018, the Cayman Islands Monetary Authority (CIMA) announced the deadline for the appointment by a regulated or unregulated fund of an Anti-Money Laundering Compliance Officer (AMLCO), Money Laundering...more
Advisers that manage any Cayman Islands regulated or unregulated funds, investment entities including hedge funds, private equity funds or any other “financial services business” are reminded that September 30, 2018 is the...more
Last week, the Securities and Exchange Commission (SEC) announced settlements with 13 SEC registered investment advisers that had failed to file Form PF over multiple year periods....more
As many of you may already be aware, the European GDPR goes into effect during May 2018. Below are some frequently asked questions and answers about GDPR as a short guide to assist investment advisers and private fund...more
As many of you may already be aware, the European GDPR goes into effect during May 2018. Below are some frequently asked questions and answers about GDPR as a short guide to assist investment advisers and private fund...more
Companies should take note that the U.S. Bureau of Economic Analysis (BEA) is conducting its 5 year benchmark survey relating to cross-border investment: BE-12 (Survey of Foreign Direct Investment in the United States). The...more
Investment advisers are reminded to review their filing obligations under the TIC Form SHC as reporting on this 5-year benchmark survey is due on March 3, 2017.
The survey collects information on holdings by U.S....more
The Securities and Exchange Commission (“SEC”) has recently proposed a new rule that would require SEC-registered investment advisers to adopt and implement written business continuity and transition plans (“BCP”) reasonably...more
As noted in our earlier Foley Adviser, March 1, 2016 is the effective date for NFA member firms (including futures commissions merchants, commodity trading advisors, commodity pool operators, introducing brokers, retail...more
On December 4, 2015, President Obama signed the Fixing America’s Surface Transportation Act (the ‘‘FAST Act’’) into law. Although the FAST Act’s main focus is on improving the country’s surface transportation infrastructure,...more
The CFTC recently approved the National Futures Association’s interpretive notice (the “Cybersecurity Notice”) on the general requirements that members should implement for their information systems security programs...more
10/30/2015
/ Breach Notification Rule ,
CFTC ,
Commodities ,
Commodity Pool ,
Corporate Executives ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Breach Plans ,
Data Privacy ,
Data Protection ,
Data Security ,
Due Diligence ,
Futures ,
Information Systems Security Program (ISSP) ,
Information Technology ,
Major Swap Participants ,
NFA ,
NIST ,
Personal Data ,
Recordkeeping Requirements ,
Security Risk Assessments ,
Sensitive Business Information ,
Swap Dealers ,
Third-Party Service Provider ,
Training Requirements
The recent adoption of the European Alternative Investment Fund Managers Directive (AIFMD), effective July 2013 (and with transitional provisions in some countries through 2014), has imposed complex new regulations on most...more
Now that the dust has settled a little on the BE-10 benchmark survey responses, U.S. financial service providers, including investment advisers, should take note that the U.S. Bureau of Economic Analysis (the “BEA”) has...more
9/30/2015
/ BE-180 ,
BEA ,
Benchmarks ,
Civil Monetary Penalty ,
Filing Deadlines ,
Financial Institutions ,
Form BE-10 ,
Form BE-13 ,
Investment Adviser ,
Offshore Funds ,
Reporting Requirements ,
Surveys ,
Time Extensions
In recent years, the SEC has been focused on cybersecurity. It has issued risk alerts, conducted examinations and provided guidance about what the agency sees as widespread weaknesses in many policies and procedures to...more
9/28/2015
/ Broker-Dealer ,
Cease and Desist Orders ,
Civil Monetary Penalty ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Enforcement Actions ,
Hackers ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Registered Investment Advisors ,
Regulation S-P ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments