News & Analysis as of

Investment Adviser Securities & Exchange Commission

Modernizing and Simplifying Disclosure with the FAST Act Mandate

Under the FAST Act mandate, the U.S. Securities and Exchange Commission (SEC) voted on October 11, 2017 to propose amendments to Regulation S-K and related rules and forms aimed at modernizing and simplifying the current...more

Regulatory Update and Recent SEC Enforcement Actions

by Blank Rome LLP on

Investment Firm VanEck Launches Bitcoin Exchange Traded Fund (“ETF”) One Week after Calling Bitcoin a “Fad” - On August 10, 2017, Joe Foster, portfolio manager and strategist for the money management firm VanEck, expressed...more

Blog: SEC proposes FAST Act Modernization and Simplification of Regulation S-K

by Cooley LLP on

The SEC has now posted its release regarding FAST Act Modernization and Simplification of Regulation S-K, which proposes amendments to rules and forms based primarily on the staff’s recommendations in its Report to Congress...more

SEC to Streamline Disclosures for Public Companies, Investment Companies and Investment Advisers

The United States Securities and Exchange Commission (SEC) voted in open meeting on October 11, 2017 to propose amendments to its regulations to modernize, streamline and simplify disclosure requirements for public companies,...more

Investment Management Special Report - 2017-18 Compliance Developments & Calendar for Private Fund Advisers

Introduction - Despite an anticipated de-regulatory push, there are significant new regulatory concerns for investment advisers to address in connection with their annual review of their compliance manuals....more

SEC Scrutinizes Multi-Manager Arrangements

by Carlton Fields on

Many mutual funds implement their investment strategies through "multi-manager" (also called "manager of manager") arrangements, particularly funds used to support variable life insurance and annuity products. Among other...more

SEC Investor Advocate’s 2018 Objectives Target Key Issues for Life Insurers

by Carlton Fields on

On June 29, the SEC’s Office of the Investor Advocate released a report that prioritizes addressing the inconsistency in the standard of care applicable to broker-dealers (a suitability standard) versus investment advisers (a...more

SEC Prevails at Trial of F-Squared Co-Founder

by Dorsey & Whitney LLP on

The Commission prevailed at trial last week, with the jury returning a verdict in its favor just hours after closing argument. SEC v. Present, Civil Action No. 1:14-cv-14692 (D. Mass. Filed Dec. 22, 2014)....more

SEC and States Are Upping Their Cyber Game, Are You Doing the Same?

September 2017 saw no respite from the relentless pace of cyber developments, not only from the perspective of rapidly evolving attacks, but also from the perspective of dynamic federal and state regulatory moves. In...more

OCIE Lessons From Cybersecurity 2 Initiative

by Carlton Fields on

On August 7, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert containing observations from its Cybersecurity 2 Exam Initiative. As a follow-up to the 2014 Cybersecurity 1 initiative, the...more

Bridging the Week - September 2017 #2

SEC Begins Proactively Suggesting Some Promoters Halt ICOs; the UK Financial Conduct Authority Joins Worldwide Regulators Saying that Digital Tokens Issued as Part of ICOs May Be Securities: Following the release of the...more

Funds Talk: October 2017 - SEC Report Highlights Financial Firms’ Cybersecurity Improvements and Shortcomings

On Aug. 7, 2017, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) released a risk alert summarizing the results of its second cybersecurity preparedness examination. ...more

Dealing with 'Broken-Deal' Expenses: SEC Recent Action Shows Its Continued Focus on Fee and Expense Practices of Fund Managers

by Reed Smith on

The Securities and Exchange Commission (the “SEC”) has been scrutinizing transparency of fees and expense allocations by fund managers for several years. Such transparency is required of any fund manager in the United States,...more

Funds Talk: October 2017 - SEC Issues Risk Alert Regarding Advertising Rule Compliance Based on Recent OCIE Examinations

On Sept. 14, 2017, the Securities and Exchange Commission (the “SEC”) issued a risk alert outlining certain compliance issues identified by the regulator’s Office of Compliance Inspections and Examinations (“OCIE”) related to...more

Revised Form ADV Began October 1st

by Tonkon Torp LLP on

Effective October 1, 2017, investment advisers must adhere to amended requirements regarding the investment adviser public disclosure form (Form ADV). The Securities Exchange Commission (the SEC) announced these amendments in...more

SEC Chairman Clayton Addresses Senate Committee

On September 26, 2017, SEC Chairman Jay Clayton delivered to the U.S. Senate Committee on Banking, Housing and Urban Affairs his first testimony as Chairman. ...more

SEC's ALJ Dismisses Fraud Charges In High-Profile Lynn Tilton Case

by Shearman & Sterling LLP on

On September 27, 2017, an administrative law judge (“ALJ”) for the United States Securities and Exchange Commission (“SEC”) dismissed the SEC’s administrative proceeding against Lynn Tilton and four Patriarch Partners...more

Securities and Enforcement Update

by McGuireWoods LLP on

On Sept. 26, 2017, Securities and Exchange Commission Chairman Jay Clayton testified before the Senate Committee on Banking, Housing and Urban Affairs for the first time since his confirmation. Although the testimony and...more

This Week In Securities Litigation

by Dorsey & Whitney LLP on

Cybersecurity was front and center this week, with SEC Chairman Jay Clayton being grilled by a Senate Committee about the breach at the agency. The Chairman testified that the breach occurred last year and that investigations...more

Amendments to Form ADV: Practical Considerations

by K&L Gates LLP on

Beginning on October 1, 2017, all investment advisers filing Form ADV must use an amended version of Part 1A of the Form that contains several new and revised items. Among other things, the amended Form requires expanded...more

The SEC’s Office of Compliance Inspections and Examinations Warns Investment Advisers: “Don’t Mislead or We Will Proceed!”

On September 14, 2017, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert in which it highlighted a number of compliance issues it had identified relating to the so-called Advertising...more

Legal Advice Not Enough for Adviser to Avoid SEC Sanctions

by Dorsey & Whitney LLP on

Undisclosed conflicts of interest have been a key focus of OCIE exams of investment advisers. Those undisclosed conflicts have resulted in a series of enforcement actions against advisers. ...more

FINRA Fines Morgan Stanley For Supervision Failures

by Dorsey & Whitney LLP on

The Commission has brought a series of enforcement actions against investment advisers centered on fees. In a number of instances the issue was whether the clients were put into programs where the fees charged were the most...more

New Developments on the Scope of the Registered Investment Adviser Exemption under Section 16 of Exchange Act

by Proskauer Rose LLP on

Hedge funds and other private investment funds can take advantage of the exemption for registered investment advisers (RIAs) under Exchange Act Rule 16a-1(a)(1)(v), the "RIA Exemption." While the exemption can be helpful, it...more

SEC Issues Risk Alert on the Most Frequent Advertising Rule Compliance Issues and Use of Accolades in Advertisements

by Proskauer Rose LLP on

I. Advertising Rule Compliance Issues - On September 14, 2017, the staff of the SEC's Office of Compliance Inspections and Examinations (OCIE) issued a National Examination Program Risk Alert on the most frequent advertising...more

939 Results
|
View per page
Page: of 38
Cybersecurity

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.