Facing a 35-day government shutdown and new restrictions on the ability to recover disgorgement, it would be perfectly understandable if the SEC’s Division of Enforcement suffered a lackluster year. Nevertheless, according to...more
11/18/2019
/ Conflicts of Interest ,
Cryptocurrency ,
Digital Assets ,
Disgorgement ,
Distributed Ledger Technology (DLT) ,
Enforcement Actions ,
Kokesh v SEC ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
Share Class Selection Disclosure Initiative (SCSD) ,
Statute of Limitations ,
White Collar Crimes
It appears that the SEC has initiated a “sweep” examination to inquire into the sales practices applicable to retirement plans for teachers and state and local government employees. We understand that multiple SEC regional...more
11/7/2019
/ 403(b) Plans ,
457(b) Plans ,
Annuities ,
Broker-Dealer ,
Financial Services Industry ,
Investment Adviser ,
Military Service Members ,
NYDFS ,
Regulatory Standards ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Share Class Selection Disclosure Initiative (SCSD) ,
Teachers
The staff of the Securities and Exchange Commission’s (SEC) Division of Investment Management released frequently asked questions (FAQs) on October 18, 2019, which discuss certain compensation arrangements and related...more
10/30/2019
/ Broker-Dealer ,
Conflicts of Interest ,
Division of Investment Management ,
Duty of Loyalty ,
Fiduciary Duty ,
Form ADV ,
Investment Adviser ,
Mutual Funds ,
Revenue Sharing ,
Sale of Assets ,
Securities and Exchange Commission (SEC) ,
Share Class Selection Disclosure Initiative (SCSD)
On September 30, 2019, the SEC ordered an additional 16 self-reporting investment advisory firms to pay nearly $10 million in disgorgement. Some have referred to this as the “second wave” of the SEC Division of Enforcement’s...more
On August 29, 2019, the SEC filed a complaint against a registered investment adviser alleging failures to disclose four categories of conflicts of interest and seeking disgorgement of $10 million in undisclosed compensation....more
9/12/2019
/ Conflicts of Interest ,
Disclosure Requirements ,
Disgorgement ,
Enforcement Actions ,
Failure To Disclose ,
Investment Adviser ,
OCIE ,
Revenue Sharing ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Share Class Selection Disclosure Initiative (SCSD) ,
Share Classes