SUMMARY - On 26 October 2022, the Securities and Exchange Commission (SEC) proposed new Rule 206(4)-11 (the Proposed Rule) under the Investment Advisers Act of 1940 (Advisers Act) and related amendments (together with the...more
I. Introduction - The rise of cryptocurrencies and digital assets in the financial markets, including the investment management industry, has given rise to a crucial question: which federal regulator - the Securities and...more