Last week, the Securities and Exchange Commission (the “SEC”) released a proposed rule (the “Proposed Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) that, if adopted as proposed, would require SEC...more
In November 2020, the staff of the SEC’s Division of Examinations (f.k.a. OCIE) (the “Examinations Division” and its staff, “Examinations Staff”) issued two risk alerts (the “Alerts”) that, in our view, offer particularly...more
In April and May 2020, the Securities and Exchange Commission (the “Commission”) entered a series of settled Orders assessing fines, instituting a bar, and ordering remedial action against registered investment advisers...more
On April 18, 2018, the Office of Compliance Inspections and Examinations (the “OCIE”) released a Risk Alert on the most frequent compliance issues relating to advisory fees and expenses. As a general matter, the OCIE...more