In the recent Supreme Court case, Navellier & Associates, Inc. v. Securities and Exchange Commission (SEC), the petitioners sought a writ of certiorari challenging the decisions of the lower courts regarding the scope of...more
5/16/2025
/ Appeals ,
Disgorgement ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Materiality ,
Petition for Writ of Certiorari ,
Registered Investment Advisors ,
Regulatory Violations ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Securities Litigation ,
Securities Regulation
On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more
4/17/2025
/ Appeals ,
Broker-Dealer ,
Conflicts of Interest ,
Disclosure Requirements ,
Enforcement Actions ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Materiality ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Summary Judgment ,
Transaction Fees
On November 22, the Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year (FY) 2024. As compared to FY 2023, the Division of Enforcement (the division) reported a 26% decline in the total...more
On October 21, the Securities and Exchange Commission’s (SEC) Division of Examinations announced its 2025 examination priorities (2025 guidance) for registered investment advisers and investment companies, broker-dealers,...more
On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more
On June 11, the Securities and Exchange Commission (SEC) announced the first settled case in its ongoing review of collaborations between investment advisors and short publishers. The SEC fined affiliated investment advisors...more
On April 26, the SEC’s Division of Examinations (EXAMS) issued a risk alert on the importance of broker-dealers and investment advisers (collectively, “firms”) establishing and following written policies and procedures aimed...more
On November 15, the U.S. Securities and Exchange Commission (SEC) announced its enforcement results for fiscal year 2022, which featured the following key metrics...more
The U.S. Securities and Exchange Commission (SEC) recently issued two risk alerts, highlighting issues found at investment firms that could lead to sanctions, following recent examinations of firms and advisers. Advisers have...more
On July 21, the Securities and Exchange Commission’s Division of Examinations (Division) released two separate “risk alerts,” encouraging investment advisers to implement written policies and procedures or review existing...more
On February 26, the SEC Division of Examinations (Division) (formerly the Office of Compliance Inspections and Examinations) issued a Risk Alert (Alert) relating to the offer, sale, and trading of digital assets that are...more
Who Needs to Know -
Public companies and their directors and officers as well as brokers, dealers, investment advisors, investment companies and their associated persons....more