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New York Department of Financial Services Plays Pit Boss for Consumer Protection

Worried that the cards may be stacked against certain consumers and producers, the New York Department of Financial Services (DFS) released a circular letter and filing guidance note on July 17 to remind insurers of their...more

Social Media Influencers Take Center Stage

Securities products and social media don’t always mix. Just ask any of the celebrities who in recent years have faced SEC charges for unlawfully touting crypto asset securities. In March, the SEC settled charges against six...more

New York Pushes Mutual Fund Active Share Disclosure

New York’s Attorney General issued a report on its recent investigation of fees charged by actively managed equity mutual funds and a metric known as "Active Share." Denoted as a "percentage" from 0 to 100 percent, Active...more

Expect Focus - Volume IV, December 2017

EXPECTFOCUS is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A. ...more

SEC Scrutinizes Multi-Manager Arrangements

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 Cautions on Use of Distributed Ledger/Blockchain Technology to Raise Capital

In July, the SEC issued a report addressing the applicability of U.S. federal securities laws to the offer and sale of securities by "virtual corporations or capital raising entities that use distributed ledger or blockchain...more

More Fund Companies Sanctioned for Misusing Fund Assets for Distribution

The SEC recently settled enforcement actions against William Blair and two Calvert companies for using mutual fund assets to pay distribution-related expenses in violation of Investment Company Act Rule 12b-1 and for certain...more

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