The U.S. District Court for the District of New Jersey recently issued its post-trial ruling in Kasilag et al. v. Hartford Investment Financial Services, LLC et al. The Hartford ruling is the second post-trial Section 36(b)...more
Mutual fund sales and distribution arrangements are once again under review. It has been reported that fund intermediaries are re-examining their practices relating to sales charges, share class structures and product...more
10/26/2016
/ Department of Labor (DOL) ,
Enforcement Actions ,
Fiduciary Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Intermediaries ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Mutual Funds ,
Securities and Exchange Commission (SEC) ,
Service Charges
The U.S. Department of Labor (the “DOL”) on April 6, 2016 released the final version of its “investment advice” regulation and accompanying prohibited transaction exemptions, a highly-anticipated milestone that is the...more
5/27/2016
/ Benefit Plan Sponsors ,
Best Interest Contract Exemptions ,
Brokers ,
Conflicts of Interest ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Final Rules ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Retirement Plan
The U.S. Securities and Exchange Commission (SEC or Commission) issued a cease and desist order (Order) on June 23, 2015, against Pekin Singer Strauss Asset Management Inc. (Adviser), an investment adviser registered under...more
8/6/2015
/ Asset Management ,
CCO ,
Cease and Desist Orders ,
Chief Compliance Officers ,
Compliance ,
Corporate Officers ,
Enforcement Actions ,
Ethics ,
Fraud ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Funds ,
Policy Violations ,
Portfolio Managers ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Tone At The Top
The July 14, 2015 compliance date for certain new money market fund reporting and disclosure requirements adopted by the U.S. Securities and Exchange Commission (SEC) is quickly approaching. In particular, money market funds...more
The Division of Investment Management (“Division”) of the U.S. Securities and Exchange Commission (“SEC”) recently published guidance (“Guidance”) addressing steps that funds and fund advisers should consider in light of...more
2/14/2014
/ Banking Sector ,
Broker-Dealer ,
Federal Reserve ,
Fixed Income Investments ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Investment Funds ,
Investment Management ,
Market Making ,
Market Risk Capital Rule ,
Securities and Exchange Commission (SEC) ,
Volcker Rule
The Office of Compliance Inspections and Examinations (“OCIE”) of the Securities Exchange Commission (“SEC”) on February 21, 2013 announced its examination priorities for this year. These highlight market-wide issues such as...more