On April 21, 2020, the U.S. Securities and Exchange Commission (“SEC”) proposed new Rule 2a-5 (the “Proposed Rule”) under the Investment Company Act of 1940 (the “Investment Company Act”) to address valuation practices of...more
In This Issue:
Regulatory Updates -
FINRA overhaul of communications rules becomes effective and ICI and CoC appeal Rule 4.5 ruling.
Enforcement + Litigation -
Enforcement Division priorities target hedge...more
2/14/2013
/ Administrative Law Judge (ALJ) ,
Brokers ,
CoC ,
Enforcement ,
Financial Industry Regulatory Authority (FINRA) ,
Fines ,
Hedge Funds ,
Investment Adviser ,
Investment Funds ,
Securities and Exchange Commission (SEC) ,
Stock Repurchases ,
Valuation
In a case involving fair valuation of structured notes, the SEC signaled that when investment company fund boards delegate the responsibility to fair value portfolio securities, they must provide “meaningful substantive...more