On 26 October 2022, the Securities and Exchange Commission (SEC) adopted final rule and form amendments (the Final Rules) representing major reforms to: 1) shareholder reports for open-end mutual funds and exchange-traded...more
On 9 February 2022, the U.S. Securities and Exchange Commission (the SEC) proposed new rules and amendments to existing rules (together, the Proposed Rules) addressing cybersecurity risk management under the Investment...more
3/10/2022
/ Amended Rules ,
Cybersecurity ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
New Rules ,
Policies and Procedures ,
Proposed Rules ,
Registered Investment Advisors ,
Risk Management ,
Securities and Exchange Commission (SEC)
The pandemic coronavirus (COVID-19) has significantly disrupted certain industries and markets, and captured the attention of market participants. This client alert reviews the March 4, 2020 SEC guidance issued in response to...more
PRESENTATION OUTLINE -
- Introduction
- Artificial Intelligence (AI):
- What is AI really??
- Subcategories of AI
- Use cases in the asset management industry
- Legal implications to consider
...more
On February 28, 2019, the staff of the Division of Investment Management of the U.S. Securities and Exchange Commission (“SEC”) issued a no-action letter to the Independent Directors Council (“IDC”) that provides boards of...more
On April 25, 2017, the Financial Industry Regulatory Authority, Inc. (“FINRA”) released a Regulatory Notice titled Social Media and Digital Communications: Guidance on Social Networking Websites and Business Communications...more
On October 13, 2016, the Securities and Exchange Commission (“SEC”) adopted new Rule 22e-4 (“Liquidity Rule”) under the Investment Company Act of 1940 (“1940 Act”), which requires registered open-end funds, including open-end...more
The Commodity Futures Trading Commission (CFTC) recently approved the National Futures Association’s Interpretive Notice to NFA Compliance Rules 2-9, 2-36 and 2-49, entitled Information Systems Security Programs (the...more
The Securities and Exchange Commission (“SEC”) on September 21, 2015, brought the first of its long-awaited “distribution in guise” cases against a mutual fund adviser and distributor. The case follows a number of warnings...more
On September 15, 2015, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert (the “2015 Risk Alert”) that announced its second round of cybersecurity...more
9/24/2015
/ Best Practices ,
Broker-Dealer ,
Compliance ,
Cybersecurity ,
Data Loss Prevention ,
Data Protection ,
Data Security ,
Financial Institutions ,
Financial Markets ,
Incident Response Plans ,
Investment Adviser ,
OCIE ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges
On February 3, 2015, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert (the “2015 Risk Alert”) with summary observations from its recently...more
2/16/2015
/ Broker-Dealer ,
Compliance ,
Cyber Attacks ,
Cybersecurity ,
Data Protection ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Investment Adviser ,
OCIE ,
Popular ,
Risk Management ,
Securities and Exchange Commission (SEC)