On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the “Act”). While much of the Act was designed to provide smaller financial institutions and community...more
In This Issue:
- SEC Proposes Rule Requiring Hedging Disclosure
- SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers
- House Passes Bill to Ease Volcker Rule and Other...more
2/27/2015
/ Background Checks ,
Broker-Dealer ,
CFTC ,
Compliance ,
Cybersecurity ,
Data Protection ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
Equity Swaps ,
Financial Industry Regulatory Authority (FINRA) ,
Hedging ,
Investment Adviser ,
Investment Management ,
OCIE ,
Securities and Exchange Commission (SEC)
Yesterday, the Obama administration called on the Department of Labor to draft rules that, in effect, would require brokers who provide retirement advice to abide by a fiduciary standard. In a speech at an event hosted by...more
2/25/2015
/ Broker-Dealer ,
Brokers ,
Consumer Financial Protection Bureau (CFPB) ,
Department of Labor (DOL) ,
Dodd-Frank ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Adviser ,
Obama Administration ,
Proposed Regulation ,
Securities and Exchange Commission (SEC)
In This Issue:
- Regulation: Long-Awaited Money Market Fund Rules Adopted
- SEC Staff Offers Guidance Regarding Investment Advisers and Proxy Advisory Firms
- SEC Staff Closes Loophole on BDC Asset...more
9/17/2014
/ Banks ,
CFTC ,
Conflicts of Interest ,
CPO ,
Dodd-Frank ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Hedge Funds ,
Investment Adviser ,
Liquidity Fees ,
Money Market Funds ,
Municipal Advisers ,
NAV ,
Pay-To-Play ,
Proxy Advisors ,
Redemption Gates ,
Securities and Exchange Commission (SEC) ,
Strategic Enforcement Plan ,
Whistleblowers
The Securities and Exchange Commission’s (SEC) temporary stay on its final municipal advisor rules under Section 15B of the Securities Exchange Act of 1934 (the “Exchange Act”) expires July 1, 2014. Accordingly, municipal...more
Clearly signaling its intention to support whistleblowers who provide actionable evidence of wrong-doing, the SEC this week settled the first case brought under the authority granted by the Dodd-Frank Act enabling...more
The SEC’s Office of Compliance Inspections and Examinations (OCIE) announced this week that its National Exam Program (NEP) launched an initiative to “engage with” investment advisers that have never been examined by the SEC....more
Following closely on the heels of FINRA’s publication of its examination priorities for 2014 (see our recent client alert), OCIE’s National Exam Program (NEP) released a summary of its 2014 priorities. OCIE’s priorities...more
A recent SEC enforcement action illustrates the challenge of complying with changing regulations, particularly for newly registered advisers. The SEC found that the adviser violated the prohibition against charging...more
After the financial crisis, have you ever asked, “What does it all mean?”
Now, we have an answer for you: MoFo’s Regulatory Reform Glossary.
Since the great financial crisis, financial institutions have been...more
Last week, the SEC’s Investment Advisory Committee recommended that the SEC enact rules to impose a fiduciary duty on broker-dealers when they provide personalized investment advice to retail investors. The Committee’s draft...more
Two Halloween announcements by securities regulators may frighten investment advisers. The October 31 statements from the SEC and the North American Securities Administrators Association (NASAA) suggest that federal and...more
- Regulatory Updates:
CFTC Adopts “Substituted Compliance” Approach for Registered Investment Companies that are Commodity Pools; SEC’s Final Rules on General Solicitation and Bad Actor Disqualification for Investment...more
10/24/2013
/ Audits ,
Bad Actors ,
Broker-Dealer ,
CFTC ,
Commodity Pool ,
Compliance ,
Continuity of Enterprises ,
Dodd-Frank ,
Enforcement ,
Financial Industry Regulatory Authority (FINRA) ,
General Solicitation ,
Investment Adviser ,
JOBS Act ,
PCAOB ,
Private Funds ,
Rule 506 Offerings ,
Securities and Exchange Commission (SEC)
More than two years after an SEC Staff study recommended adoption of a uniform fiduciary standard for broker-dealers and investment advisers, the SEC has taken its first significant step towards possible implementation of the...more