In This Issue:
Regulatory Updates -
FINRA overhaul of communications rules becomes effective and ICI and CoC appeal Rule 4.5 ruling.
Enforcement + Litigation -
Enforcement Division priorities target hedge funds; Independent directors respond to SEC allegations in fair valuation case; It’s not dead yet: the SEC fights another market timing battle; SEC settles with closed-end fund over improper stock repurchase; Court orders hedge fund to disgorge funds in connection with deceptive returns; Excessive fee case survives motion to dismiss; Brokers fined for inadequate supervision of prospectus delivery; FINRA proposes disclosure of compensation paid to move customers; ALJ bars fund PM over pricing matter; Broker fined for late pricing of mutual fund orders; and SEC Bans Investment Adviser from Securities Industry for Deviating from Mutual Fund’s Investment Policy.
Excerpt from Regulatory Updates: FINRA overhaul of communications rules becomes effective -
FINRA’s sweeping overhaul of its rules governing communications with the public became effective on February 4, 2013. The new rules and guidance, which the SEC approved last year, are likely to keep compliance officers busy for quite some time.
Please see full alert below for more information.
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Topics: ALJ, Brokers, CoC, Enforcement, Fines, FINRA, Hedge Funds, ICI, Investment Adviser, Investment Funds, SEC, Stock Repurchases, Valuation
Published In: Business Organization Updates, Finance & Banking Updates, Securities Updates
DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.
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