Investment Management, Negligence

The SEC’s Private Fund Adviser Rules Explained — Part 1: The Restricted Activities Rule

Lowenstein Sandler LLP on 9/26/2023

On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to address what it perceives as certain conflicts...more

Private Funds Rules Set to Be Adopted - What to Watch For

Goodwin on 8/17/2023

The SEC (U.S. Securities and Exchange Commission) has provided notice that it is preparing to adopt the so-called “Private Funds Rules” under the Investment Advisers Act of 1940 (the “Advisers Act”) on August 23, 2023....more

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

White & Case LLP on 11/6/2019

In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

When does conduct constitute financial advice?

Hogan Lovells on 5/8/2019

In Atwealth (Pty) Ltd & Others v Kernick & Others (116/2018) [2019] ZASCA 27 (28 March 2019) the Supreme Court of Appeal (SCA) was called upon to decide, among other issues, what conduct constitutes financial advice and what...more

Double-Check the Math: Advisers Should Not Provide Clients With Performance Data Created by Other Investment Managers Without...

Broker-Dealer Compliance + Regulation on 8/26/2016

In a series of enforcement actions this week, the SEC made it clear that investment advisers need to substantiate the performance records of investment management firms they recommend to their clients. In these cases,...more

Scottrade announces data breach affecting 4.6M customers

Robinson+Cole Data Privacy + Security Insider on 10/9/2015

Scottrade, a retail brokerage firm, announced late last week that it suffered an intrusion by cyber hackers who stole client contact information of 4.6 million customers. The intrusion occurred between late 2013 and early...more