On May 13, 2024, the Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) issued a joint notice of proposed rulemaking (proposed rule) that would impact how investment advisers handle...more
5/21/2024
/ AML/CFT ,
Anti-Money Laundering ,
Comment Period ,
Customer Identification Program (CIP) ,
Financial Crimes ,
Financial Services Industry ,
FinCEN ,
Investment Adviser ,
NPRM ,
Popular ,
Registered Investment Advisors ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
On February 13, 2024, the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury (Treasury) issued a "Notice of proposed rulemaking" (proposed rule) that would require Securities Exchange Commission...more
2/23/2024
/ AML/CFT ,
Anti-Money Laundering ,
Beneficial Owner ,
BSA/AML ,
Comment Period ,
FinCEN ,
Investment Adviser ,
Money Laundering ,
NPRM ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Traders ,
Securities Transactions ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
On August 23, 2023, the Securities and Exchange Commission (SEC) voted to adopt new rules and amendments under the Investment Advisers Act of 1940 (Advisers Act) to the regulation of private fund advisers (Final Rule). The...more
On May 3, 2023, the Securities and Exchange Commission (SEC) voted to adopt certain amendments (Final Amendments) to Form PF reporting requirements. Form PF is a confidential, regulatory reporting form filed by SEC-registered...more
5/16/2023
/ Form PF ,
Investment ,
Investment Adviser ,
Investment Portfolios ,
Investor Protection ,
Investors ,
New Amendments ,
Private Equity ,
Private Equity Funds ,
Regulatory Reform ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) proposed to exercise its authority by amending and re-designating Rule 206(4)-2 under the Investment Advisers Act of 1940 (the Custody Rule)....more
3/23/2023
/ Asset Management ,
Comment Period ,
Custody Rule ,
Financial Services Industry ,
Form ADV ,
Investment Advisers Act of 1940 ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Signed into law by President Biden on December 29, 2022, new provisions in the Consolidated Appropriations Act, 2023 (H.R. 2617) (Exemption) exempt certain “M&A brokers” from having to register as broker-dealers with the U.S...more
On August 3, 2022, the Securities and Exchange Commission (SEC) staff published a Q&A-Styled Bulletin focused on conflicts of interest under the Investment Advisers Act of 1940 (Advisers Act) and Regulation Best Interest (Reg...more
8/31/2022
/ Broker-Dealer ,
Conflicts of Interest ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Regulation Best Interest ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Securities Transactions
On May 25, 2022, the Securities and Exchange Commission (SEC) approved proposals to the “Names Rule” (Rule 35d-1) under the Investment Company Act of 1940 (1940 Act), hereinafter referred to as Proposal One, and to the rules...more
6/3/2022
/ Capital Investments ,
Corporate Social Responsibility ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Investment Adviser ,
Investment Funds ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Unfair or Deceptive Trade Practices
On February 9, 2022, the SEC proposed new rules and amendments under the Investment Advisers Act of 1940 to regulate the $18-trillion private fund market. ...more
2/17/2022
/ Asset Management ,
Comment Period ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Funds ,
Investors ,
Private Funds ,
Proposed Amendments ,
Public Comment ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions
On December 22, 2020, the SEC created a new merged rule (Marketing Rule) that replaces two rules under the Advisers Act, rule 206(4)-1 (Marketing Rule), originally adopted in 1961, and rule 206(4)-3 (Solicitation Rule),...more
Designed to protect retail investors from conflicts of interest, the SEC's new Regulation Best Interest, known as Reg BI, and related rules take effect on June 30, 2020. Every SEC-registered investment adviser and...more
6/25/2020
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Fiduciary Duty ,
Form CRS ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Standard of Conduct
Due to the outbreak of COVID-19 and its current and potential effects, the Securities and Exchange Commission (SEC) issued an order on Friday, March 13 that grants conditional relief to investment advisers in their delivery...more
New rule includes a heightened standard for broker-dealers, new required disclosures for investment advisers and broker-dealers and other guidance -
On June 5, 2019, by a vote of 3-1, the SEC adopted Regulation Best...more
6/19/2019
/ Best Interest Standard ,
Broker-Dealer ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Investment Adviser ,
Investment Management ,
New Rules ,
Regulation Best Interest ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Standard of Conduct
Last Wednesday, the Securities and Exchange Commission (SEC) proposed a new set of rules under the Securities and Exchange Act of 1934 (Proposed Rules) that would establish a new "best interest" standard by which...more
4/24/2018
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Products ,
Regulatory Oversight ,
Regulatory Standards ,
Retail Investors ,
Securities and Exchange Commission (SEC)
Financial exploitation of aging and mentally diminished investors by family members and third parties is on the rise. With America's senior population growing rapidly, this problem may only get worse. More than half of all...more
Proposals made by the Securities and Exchange Commission (SEC) in 2015 to amend Form ADV and certain rules under the Investment Advisers Act of 1940 (Advisers Act) (SEC Proposes Significant Reporting Requirement Amendments to...more
9/29/2016
/ Books & Records ,
Derivatives ,
Disclosure Requirements ,
Filing Requirements ,
Financial Institutions ,
Financial Markets ,
Form ADV ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
RAUM ,
Recordkeeping Requirements ,
Required Forms ,
Securities ,
Securities and Exchange Commission (SEC) ,
SMAs ,
Umbrella Registration
For private equity funds, along with their managers, sponsors, investors, and portfolio companies paying or receiving transaction-based fees, the recent announcement by the Securities and Exchange Commission (SEC) of a...more
On Tuesday, the United States Department of Treasury’s Financial Crimes Enforcement Network (FinCEN) proposed a rule that would require SEC-registered investment advisers, including private equity and hedge funds, to comply...more
8/27/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Broker-Dealer ,
BSA/AML ,
Compliance ,
Currency Transaction Reports (CTR) ,
Financial Institutions ,
FinCEN ,
Hedge Funds ,
Investment Adviser ,
Money Laundering ,
Patriot Act ,
Private Equity ,
SAR ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
On May 20, 2015, the Securities and Exchange Commission (SEC) released several proposals, "Amendments to Form ADV and Investment Advisers Act Rules," that would require investment advisers to provide additional information on...more