On May 27, 2020, the staff of the SEC’s Division of Investment Management withdrew previously issued guidance addressing the intersection between state control share acquisition statutes (control share statutes) and the...more
COVID-19 RELATED DEVELOPMENTS –
SPECIAL REGULATORY UPDATE –
New SEC Guidance on PPP Loans, Form ADV Brochure Delivery and the Custody Rule -
On April 27, 2020, the staff of the Securities and Exchange Commission (the...more
On March 13, 2020, the staff of the SEC’s Division of Investment Management and Division of Corporation Finance issued guidance in response to various inquiries from issuers and shareholders regarding compliance with the...more
New Rules, Proposed Rules, Guidance and Alerts –
PROPOSED RULES –
Agencies Propose Volcker Rule Amendments Relating to Covered Funds –
On January 30, 2020, the Federal Reserve Board, FDIC, OCC, SEC and CFTC proposed...more
3/3/2020
/ Cybersecurity ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Investment Fund ,
Investment Funds ,
New Guidance ,
OCIE ,
Proposed Rules ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Sub-advisers ,
Volcker Rule
New Rules, Proposed Rules, Guidance and Alerts –
PROPOSED RULES –
SEC Proposes Rule Changes for Proxy Advisory Firms –
On November 5, 2019, the SEC issued a release proposing amendments to the federal proxy rules...more
12/20/2019
/ Anti-Fraud Provisions ,
Form CRS ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
MiFID II ,
New Guidance ,
Proxy Advisory Firms ,
Proxy Solicitations ,
Proxy Voting Guidelines ,
Rule 206(4)-5 ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals
On November 27, 2019, the Chief Accountant of the SEC’s Division of Investment Management issued a “Dear CFO” letter—the first in nearly 20 years—to update certain accounting guidance appearing in prior Dear CFO letters that...more
On October 18, 2019, the SEC’s Division of Investment Management issued guidance in the form of Frequently Asked Questions that address certain matters regarding the disclosure of conflicts of interest involving the receipt...more
12/10/2019
/ 12b-1 plan ,
Conflicts of Interest ,
Disclosure Requirements ,
Fiduciary Duty ,
Form ADV ,
Form CRS ,
Investment Adviser ,
New Guidance ,
Revenue Sharing ,
Securities and Exchange Commission (SEC) ,
Share Class Selection Disclosure Initiative (SCSD)
On July 11, 2019, FINRA issued Regulatory Notice 19-23 to restate and supplement its prior guidance to member firms on the circumstances under which FINRA awards credit for providing "extraordinary cooperation" during an...more
New Rules, Proposed Rules, Guidance and Alerts –
NEW RULES –
SEC Adopts New Rules Permitting Covered Investment Fund Research Reports –
On November 30, 2018, the SEC adopted Rule 139b under the Securities Act of...more
12/18/2018
/ Broker-Dealer ,
Division of Investment Management ,
Enforcement Actions ,
ETFs ,
Excessive Fees ,
Financial Adviser ,
Financial Services Industry ,
Investment Companies ,
Investment Funds ,
Investors ,
Life Insurance ,
Mutual Funds ,
New Guidance ,
New Rules ,
OCIE ,
Partial Summary Judgments ,
Proposed Rules ,
Regulatory Requirements ,
Reporting Modernization Rules ,
Risk Alert ,
Safe Harbors ,
Section 36(b) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
New Rules, Proposed Rules, Guidance and Alerts –
SEC STAFF GUIDANCE AND ALERTS –
OCIE Publishes Risk Alert on Compliance Issues Relating to Best Execution –
On July 11, 2018, the Office of Compliance Inspections and...more
8/21/2018
/ Best Execution ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Dismissals ,
Duty of Care ,
Enforcement Actions ,
Excessive Fees ,
Exemptions ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investors ,
JOBS Act ,
New Guidance ,
New Rules ,
OCIE ,
Pending Legislation ,
Policies and Procedures ,
Private Right of Action ,
Proposed Rules ,
Risk Alert ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
Virtual Currency
New Rules, Proposed Rules, Guidance and Alerts –
SEC STAFF GUIDANCE AND ALERTS -
SEC Staff Issues Guidance on Cryptocurrency-related Holdings -
On January 18, 2018, the staff of the SEC’s Division of Investment...more
2/13/2018
/ Arbitrage ,
Bitcoin ,
Broker-Dealer ,
Civil Monetary Penalty ,
Closed-End Funds ,
Conflicts of Interest ,
Cryptocurrency ,
Custody ,
Cybersecurity ,
Data Protection ,
De Minimis Claims ,
Disgorgement ,
Enforcement Actions ,
ETFs ,
Examination Priorities ,
Excessive Fees ,
Fee Disclosure ,
Fiduciary Duty ,
Fraud ,
Fund Sponsors ,
Index Funds ,
Investment ,
Investment Adviser ,
Investment Companies ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
Investment Opportunities ,
Investors ,
Liquidity ,
Market Manipulation ,
Mutual Funds ,
NAV ,
New Guidance ,
New Rules ,
OCIE ,
Penalties ,
Prejudgment Interest ,
Press Releases ,
Proposed Rules ,
Public Statements ,
Registration Statement ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Risk-Based Approaches ,
Robo-Advisors ,
Rule 22e-4 ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
SIFMA ,
Sub-advisers ,
Testimony ,
Valuation
New Rules, Proposed Rules, Guidance and Alerts -
NEW RULES -
SEC Delays Form N-PORT EDGAR Filing Requirement by Nine Months -
On December 8, 2017, the SEC adopted a temporary rule (the Temporary Rule) delaying by...more
12/21/2017
/ Administrative Law Judge (ALJ) ,
Department of Justice (DOJ) ,
Filing Requirements ,
Form N-PORT ,
Investment Adviser ,
Investment Companies ,
Liquidity Risk Management Rule ,
New Guidance ,
New Rules ,
Proposed Rules ,
Public Statements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury
New Rules, Proposed Rules, Guidance and Alerts -
SEC STAFF GUIDANCE AND ALERTS -
SEC Staff Issues No-Action Letters to Facilitate Cross-Border Compliance with the Research “Unbundling” Provisions of the European...more
11/21/2017
/ Asset Management ,
Broker-Dealer ,
Business Continuity Plans ,
CFTC ,
Department of Labor (DOL) ,
Derivatives ,
Disclosure Requirements ,
ETFs ,
EU ,
Fiduciary Rule ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Hyperlink ,
Incorporation by Reference ,
Independent Directors ,
Inducements ,
Insurance Regulations ,
Investment ,
Investment Adviser ,
Investment Management ,
Investors ,
Liquidity ,
MiFID II ,
New Guidance ,
New Rules ,
No-Action Letters ,
No-Action Relief ,
Proposed Rules ,
Public Comment ,
Regulatory Requirements ,
Research Funding ,
Risk Management ,
Safe Harbors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Transactions ,
Shareholders ,
Stress Tests ,
U.S. Treasury