The Securities and Exchange Commission (the SEC) proposed comprehensive modifications to the disclosure framework for mutual funds and exchange-traded funds (ETFs and, collectively with mutual funds, funds). The purpose of...more
As discussed in our previous alerts, over the past several weeks, the Securities and Exchange Commission (the SEC) and its staff (the Staff) have provided guidance and targeted, conditional, and temporary relief to investment...more
As discussed in our prior alert, on March 4, 2020, the Securities and Exchange Commission (SEC) Division of Investment Management extended the no-action position expressed in its 2019 no-action letter to the Independent...more
In a very unusual lawsuit, attorneys general from seven states and the District of Columbia recently sued the SEC, and its chair, Jay Clayton, for declaratory and injunctive relief seeking to block the effectiveness of...more
9/25/2019
/ Best Interest Standard ,
Broker-Dealer ,
Declaratory Relief ,
Disclosure Requirements ,
Dodd-Frank ,
Duty of Care ,
Fiduciary Duty ,
Injunctive Relief ,
Investment Adviser ,
Investment Management ,
Regulation Best Interest ,
Regulatory Agenda ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Transactions ,
Standard of Conduct
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert earlier this month from its national examination program warning investment advisers of the most common...more
9/24/2019
/ Brokers ,
Cross Trading ,
Disclosure Requirements ,
Failure to Comply ,
Fiduciary Duty ,
Form ADV ,
Investment Advisers Act of 1940 ,
Investment Management ,
OCIE ,
Private Funds ,
Risk Alert ,
Securities Regulation ,
Securities Transactions