SEC's and CFTC's Enforcement Actions Against Multiple Firms -
In its continued pursuit of rooting out and penalizing broker-dealers and investment advisers for their failure to prevent unapproved communication methods, the...more
8/28/2024
/ Broker-Dealer ,
CFTC ,
Electronic Communications ,
Enforcement Actions ,
Financial Institutions ,
Investment Adviser ,
Noncompliance ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Text Messages ,
WhatsApp
The U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) has thrown a wrench into the gears of the U.S. Securities and Exchange Commission (the “SEC”) in its attempt to regulate those investment advisers that...more
6/11/2024
/ Disclosure Requirements ,
Fiduciary Duty ,
Final Rules ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Private Funds ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Transparency
In 2024, investment advisers – those registered with the U.S. Securities and Exchange Commission (SEC) and those that file notices as exempt reporting advisers - will continue to feel the impact of the SEC’s recent rule...more
1/30/2024
/ Disclosure Requirements ,
Enforcement Actions ,
Investment ,
Investment Adviser ,
Investment Management ,
Investors ,
New Regulations ,
Proposed Rules ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Regulation
On September 20, 2023, the Securities and Exchange Commission (“SEC”) adopted amendments to Rule 35d-1[1] (the “Names Rule”) under the Investment Company Act of 1940, as amended (“1940 Act”), as well as amendments to certain...more
9/28/2023
/ Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Amendments ,
New Rules ,
Publicly-Traded Companies ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Regulatory Reform ,
Regulatory Requirements ,
Reporting Requirements ,
Required Forms ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
The U.S. Securities and Exchange Commission (the “SEC”) last week adopted highly anticipated new rules and amendments (the “Adopted Rules”) to the Investment Advisers Act of 1940, as amended (the “Advisers Act”), that will...more
8/29/2023
/ Compliance ,
Final Rules ,
Fund Managers ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Investors ,
Private Funds ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Transparency
The U.S. Securities and Exchange Commission (the “SEC”) published on February 9, 2022 a release (the “Proposing Release”) in which it proposed new rules (collectively, the “Proposed Rules”) that would apply to investment...more
he U.S. Securities and Exchange Commission (the “SEC”) recently adopted new rules and rule and form amendments under the Investment Company Act of 1940 (the “1940 Act”) relating to, among other things, use of derivatives and...more
12/8/2020
/ Business Development Companies ,
Derivatives ,
ETFs ,
Exemptive Relief ,
Form N-CEN ,
Form N-PORT ,
Investment Company Act of 1940 ,
Investment Management ,
Leveraged Finance ,
New Rules ,
Reporting Requirements ,
Risk Management ,
Rule 18f-4 ,
Securities and Exchange Commission (SEC)
The U.S. Securities and Exchange Commission (the "SEC") proposed on December 18, 2019 amendments to, among other things, its current rules under the Securities Act of 1933 (the "Securities Act") relating to the definitions of...more
1/3/2020
/ Accredited Investors ,
Comment Period ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Reform ,
Investment Adviser ,
Private Funds ,
Proposed Amendments ,
Public Comment ,
Qualified Institutional Buyers ,
Regulation D ,
Rule 144A ,
Rural Business Investment Companies (RBICs) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation
The U.S. Securities and Exchange Commission (the “SEC”) re-proposed on November 25, 2019 rules under the Investment Company Act of 1940 (the “1940 Act”) relating to, among other things, use by investment companies of...more
12/9/2019
/ Business Development Companies ,
Closed-End Funds ,
Derivatives ,
ETFs ,
Form N-CEN ,
Form N-PORT ,
Investment Company Act of 1940 ,
Leveraged Finance ,
Open-Ended Fund Companies (OFCs) ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Rule 18f-4 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Transition Relief
The U.S. Securities and Exchange Commission (the “SEC”) proposed on November 4, 2019 significant amendments to its current rules under the Investment Advisers Act of 1940 (the “Advisers Act”) relating to investment adviser...more
11/18/2019
/ Advertising ,
Broker-Dealer ,
Comment Period ,
Disclosure Requirements ,
Form ADV ,
General Solicitation ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Guidance ,
No-Action Letters ,
Proposed Rules ,
Public Comment ,
Securities and Exchange Commission (SEC)
International law firm Sullivan & Worcester LLP acted as fund counsel to Exchange Traded Managers Group (ETFMG) on the launch of the first dry bulk shipping exchange-traded fund, Breakwave Dry Bulk Shipping ETF (NYSE ARCA:...more
Let’s start with this caveat: as we all know, under the still-new Trump Administration, priorities may and are likely to change. Now that we got that off our chest, it is nevertheless not the time to sit back and wait. The...more