Edmund Zaharewicz

Carlton Fields

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SEC Cautions on Use of Distributed Ledger/Blockchain Technology to Raise Capital

In July, the SEC issued a report addressing the applicability of U.S. federal securities laws to the offer and sale of securities by "virtual corporations or capital raising entities that use distributed ledger or blockchain...more

10/12/2017 / Blockchain , Capital Raising , Distributed Ledger Technology (DLT) , Financial Institutions , Financial Services Industry , Initial Coin Offering (ICOs) , Investment Company Act of 1940 , Popular , Securities and Exchange Commission (SEC) , Unregistered Securities

More Fund Companies Sanctioned for Misusing Fund Assets for Distribution

The SEC recently settled enforcement actions against William Blair and two Calvert companies for using mutual fund assets to pay distribution-related expenses in violation of Investment Company Act Rule 12b-1 and for certain...more

7/31/2017 / Distribution Rules , Enforcement Actions , Federal Rule 12(b)(1) , Financial Services Industry , Investment Adviser , Investment Company Act of 1940 , Mutual Funds , Sanctions , Securities and Exchange Commission (SEC) , Securities Violations

SEC Provides Long-Awaited Guidance on Fund Distribution and Sub-Accounting Fees

Guidance Update No. 2016-01, published this month by the SEC’s Division of Investment Management, provides extensive guidance concerning the possibility that payments from mutual funds are being used to promote sales of the...more

1/25/2016 / Fund Distribution , Intermediaries , Investment Company Act of 1940 , Mutual Funds , Securities and Exchange Commission (SEC) , Source of Payments

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