On May 23, 2024, the SEC approved exchange rule changes that will allow the listing and trading of a number of spot Ether exchange-traded products (ETPs). Ether is the second-largest cryptocurrency by market capitalization...more
On July 1, 2024, the SEC adopted tailored disclosure requirements and offering processes for non-variable annuity contracts—specifically, for registered index-linked annuities (RILAs) and annuity contracts that offer fixed...more
On June 6, 2024, the New York Stock Exchange (NYSE) filed an application with the SEC pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 and Rule 19b-4 thereunder, proposing a rule change that, if approved by...more
On June 26, 2024, the U.S. Court of Appeals for the Fifth Circuit vacated the SEC’s 2022 rescission of certain rule amendments regarding proxy advisory firms, holding that the SEC’s explanation for rescinding the amendments...more
On May 16, 2024, the SEC adopted amendments to Regulation S-P to enhance and modernize consumer privacy protections in light of technological developments in how individuals’ personal information is collected, shared and...more
On May 13, 2024, the SEC and FinCEN jointly proposed a new rule under the Bank Secrecy Act (BSA) that would impose new customer identification program (CIP) requirements on registered investment advisers and exempt reporting...more
On May 21, 2024, the SEC announced the settlement of administrative proceedings brought against a dually-registered broker-dealer and investment adviser for its alleged failure to address conflicts of interest in compliance...more
On May 1, 2024, the Financial Industry Regulatory Authority (FINRA) proposed a new series of rules—FINRA Rule 6500 Series—regarding reporting of securities lending transactions pursuant to the requirements under new Rule...more
On April 17, 2024, the SEC’s Division of Examinations issued its latest risk alert regarding Rule 206(4)-1 of the Investment Advisers Act of 1940, known as the Marketing Rule. Following the examinations staff’s June 2023 and...more
On April 15, 2024, the SEC announced the settlement of administrative proceedings brought against a registered investment adviser for alleged violations of Section 206(4) of the Investment Advisers Act of 1940 and Rule...more
On April 29, 2024, the SEC announced the settlement of administrative proceedings brought against a registered investment adviser for alleged violations of Section 17(d) of the Investment Company Act of 1940, Rule 17d-1...more
On April 12, 2024, the SEC announced the settlement of administrative proceedings brought against five registered investment advisers for alleged violations of Rule 206(4)-1 under the Investment Advisers Act of 1940, known as...more
On April 23, 2024, the U.S. Department of Labor (DOL) issued a final rule, amending the definition of an investment advice fiduciary for purposes of the Employee Retirement Income Security Act (ERISA) and the Internal Revenue...more
On March 27, 2024, the staff of the SEC’s Division of Examinations issued a risk alert highlighting its intent to focus, during examinations and outreach on market participants’ preparations for the shortening of the standard...more
On March 18, 2024, the SEC announced that it had settled charges against two investment advisers for allegedly making false and misleading statements about their use of artificial intelligence (AI) in providing advisory...more
On March 6, 2024, the SEC voted 3-2 to adopt final rules requiring public companies, excluding investment companies but not excluding business development companies, to disclose climate-related information in their...more
On February 23, 2024, the U.S. District Court for the District of Columbia, in a case dating back to 2019, vacated certain SEC rule amendments regarding proxy advisory firms, holding that “the SEC acted contrary to law and in...more
On March 27, 2024, the SEC adopted amendments to Rule 203A-2(e) (the Internet Adviser Exemption) under the Investment Advisers Act of 1940 to narrow the types of small investment advisers that can register with the SEC in...more
On July 12, 2023, in a 3-2 vote, the SEC adopted amendments to Rule 2a-7 under the Investment Company Act of 1940, representing the SEC’s latest reforms of the rules governing money market funds in its effort to improve their...more
On May 27, 2020, the SEC staff issued a no-action letter to the Investment Company Institute (ICI) and the Securities Industry and Financial Markets Association (SIFMA) permitting registered funds to participate in the Term...more
New Rules, Proposed Rules, Guidance and Alerts -
PROPOSED RULES -
SEC Proposes Amendments to Auditor Independence Rules -
On December 30, 2019, the SEC proposed amendments to Rule 2-01 of Regulation S-X, which sets...more
2/4/2020
/ Auditor Independence ,
Auditors ,
Derivatives ,
OCIE ,
Private Funds ,
Proposed Amendments ,
Retirement Plan ,
Risk Alert ,
SEC Examination Priorities ,
SECURE Act ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Swaps
On December 30, 2019, the SEC proposed amendments to Rule 2-01 of Regulation S-X, which sets forth the qualifications and independence standards for public company auditors, in order to carve out certain fact patterns...more
New Rules, Proposed Rules, Guidance and Alerts –
PROPOSED RULES –
SEC Proposes Rule Changes for Proxy Advisory Firms –
On November 5, 2019, the SEC issued a release proposing amendments to the federal proxy rules...more
12/20/2019
/ Anti-Fraud Provisions ,
Form CRS ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
MiFID II ,
New Guidance ,
Proxy Advisory Firms ,
Proxy Solicitations ,
Proxy Voting Guidelines ,
Rule 206(4)-5 ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals
On November 5, 2019, the SEC issued a release proposing amendments to Rule 14a-8 under the Securities Exchange Act of 1934, which is the rule that governs the process through which shareholders may submit proposals to be...more
12/10/2019
/ Corporate Governance ,
Proposed Amendments ,
Proposed Rules ,
Proxy Statements ,
Proxy Voting Guidelines ,
Public Comment ,
Rule 14a-8 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Shareholder Meetings ,
Shareholder Proposals
New Rules, Proposed Rules, Guidance and Alerts -
PROPOSED RULES –
SEC Proposes Rule Changes for Proxy Advisory Firms –
On November 5, 2019, the SEC issued a release proposing amendments to the federal proxy rules...more
11/26/2019
/ Corporate Governance ,
MiFID II ,
Proposed Rules ,
Proxy Advisors ,
Proxy Advisory Firms ,
Proxy Solicitations ,
Proxy Statements ,
Proxy Voting Guidelines ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Shareholders