On August 28, 2024, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its final rule requiring certain investment advisers to implement anti-money laundering (“AML”) compliance...more
9/10/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Exempt Reporting Advisers (ERAs) ,
Final Rules ,
FinCEN ,
Foreign Investment ,
Investment Adviser ,
Investment Management ,
Popular ,
Registered Investment Advisors ,
Reporting Requirements ,
Suspicious Activity Reports (SARs) ,
U.S. Treasury
In a 3-0 decision issued today, June 5, 2024, the Fifth Circuit Court of Appeals (the “Court”) vacated the new private funds rule adopted by the Securities and Exchange Commission (the “SEC”) on August 23, 2023 (the “Rule”)....more
6/6/2024
/ Dodd-Frank ,
Final Rules ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Private Funds ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Title IV ,
Title IX ,
Vacated
On August 23, 2023, the Securities and Exchange Commission (the “SEC”) approved by a 3-2 vote a final rule enacting a series of wide-sweeping changes to the regulation of the private funds industry (the “Final Rule”). While...more
8/25/2023
/ Compliance ,
Disclosure Requirements ,
Final Rules ,
Fund Managers ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Investors ,
Private Funds ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On December 22, 2020, the U.S. Securities and Exchange Commission (“SEC”) adopted amendments under the Investment Advisers Act of 1940 modernizing the rules governing investment adviser marketing. The amendments replace and...more
3/10/2021
/ Advertising ,
Amended Rules ,
Books & Records ,
Cash Solicitation Rule ,
Compliance ,
Form ADV ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Marketing ,
No-Action Letters ,
Securities and Exchange Commission (SEC)
On August 26, 2020, the Securities and Exchange Commission (“SEC”) amended the definition of “accredited investor,” one of the principal tests for determining eligibility for participation in private placements of securities....more
9/1/2020
/ Accredited Investors ,
Family Offices ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Limited Liability Company (LLC) ,
Qualified Institutional Buyers ,
Rule 144A ,
Rural Business Investment Companies (RBICs) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Venture Capital
On September 4, 2019, the Office of Compliance Inspections and Examinations (“OCIE”) published a risk alert identifying the most frequent compliance issues involving principal and agency cross transactions from exams...more