Just before we said goodbye to 2020, the Securities and Exchange Commission (SEC) finalized amendments to its advertising and solicitation rules under the Investment Advisers Act of 1940, as amended (Advisers Act). The SEC...more
Covering legal developments and regulatory news for funds, their advisers and industry participants through October of 2020. ...more
11/17/2020
/ Accredited Investors ,
Amended Regulation ,
Coronavirus/COVID-19 ,
Investment Management ,
OCIE ,
Proxy Voting ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Shareholders
RULEMAKING AND GUIDANCE -
SEC Adopts Amendments to Exemptive Applications Procedures -
On July 6, 2020, the U. S. Securities and Exchange Commission adopted rule amendments to establish an expedited review procedure...more
9/21/2020
/ Amended Rules ,
Compliance ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Ethics ,
Fiduciary Rule ,
Final Rules ,
Financial Institutions ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Management ,
New Rules ,
OCIE ,
Securities and Exchange Commission (SEC)
SEC Grants Additional COVID-19 Relief to Business Development Companies -
On April 8, the SEC issued an order granting relief to business development companies (BDCs) by permitting BDCs to issue and sell senior securities...more
6/17/2020
/ Business Development Companies ,
Closed-End Funds ,
Co-Investment Rights ,
Coronavirus/COVID-19 ,
Form ADV ,
Form CRS ,
Investment Company Act of 1940 ,
Investment Management ,
OCIE ,
Offerings ,
Regulation Best Interest ,
Relief Measures ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
WKSIs
On January 7, the SEC’s Office of Compliance Inspections and Examinations (OCIE) announced its 2020 national examination priorities. This is the eighth year that OCIE has published its fiscal year examination priorities. ...more
1/31/2020
/ Digital Assets ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Information Security ,
MSRB ,
OCIE ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Retail Investors ,
Robo-Advisors ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
SEC Proposes to Update Accredited Investor Definition to Increase Access to Investments -
On December 18, 2019, the Securities and Exchange Commission (SEC) proposed amendments to the definition of “accredited investor” in...more
1/27/2020
/ Derivatives ,
ETFs ,
Fiduciary Duty ,
Financial Markets ,
Form N-CEN ,
Form N-LIQUID ,
Form N-PORT ,
Global Code of Ethics ,
Investment Adviser ,
Investment Management ,
OCIE ,
Proposed Rules ,
Registered Investment Companies (RICs) ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
Repurchase Agreements ,
Revenue Sharing ,
Risk Management ,
Rule 18f-4 ,
Rule 6c-11 ,
Rulemaking Process ,
Section 15(c) ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Share Classes ,
Wealth Management
SEC Adopts ETF Rule -
On September 25, 2019, the Securities and Exchange Commission (SEC) unanimously adopted Rule 6c-11 under the 1940 Act to modernize the regulation of exchange-traded funds by establishing a clear and...more
10/23/2019
/ Bank of New York (BNY) Mellon ,
Broker-Dealer ,
Disclosure Requirements ,
ETFs ,
Exchange-Traded Products ,
Exemptive Relief ,
Form N-1A ,
Investment Adviser ,
Investment Management ,
Mortgage Servicing Rules ,
No-Action Relief ,
OCIE ,
Popular ,
Prospectus ,
Proxy Voting Guidelines ,
Risk Alert ,
Rule 6c-11 ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Trading Platforms ,
Transparency