As the world responds to COVID-19, we have identified a number of compliance and legal considerations for asset managers. We summarize a select list of these in our note below....more
3/20/2020
/ Asset Management ,
Broker-Dealer ,
Chief Compliance Officers ,
Commodity Pool ,
Commodity Trading Advisors (CTAs) ,
Compliance ,
Coronavirus/COVID-19 ,
Cyber Threats ,
Financial Industry Regulatory Authority (FINRA) ,
Force Majeure Clause ,
Futures ,
Information Security ,
Investment Adviser ,
Investment Companies ,
Liquidity ,
NFA ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Short Selling ,
Telecommuting ,
Valuation
On November 4, 2019, the U.S. Securities and Exchange Commission (SEC) proposed amendments to rules governing investment adviser advertisements and payment to solicitors under the Investment Advisers Act. The comment period...more
11/18/2019
/ Broker-Dealer ,
Disclosure Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
General Solicitation ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Guidance ,
No-Action Letters ,
OCIE ,
Proposed Amendments ,
Proposed Rules ,
Reasonable Care ,
Securities and Exchange Commission (SEC)
Two facts may come as a surprise about the U.S. Securities and Exchange Commission’s existing investment adviser advertising rule: that it literally fits on one page, and that it has not been updated since 1961. These facts...more
11/18/2019
/ Advertising ,
Broker-Dealer ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
General Solicitation ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Guidance ,
Proposed Amendments ,
Proposed Rules ,
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) has issued its examination priorities for 2019. In it, OCIE points out that its examination program covers some 13,200...more
1/15/2019
/ Anti-Money Laundering ,
Broker-Dealer ,
Cryptoassets ,
Cybersecurity ,
ETFs ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
MSRB ,
Mutual Funds ,
OCIE ,
Popular ,
Retail Investors ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
Introduction -
On November 27, 2013, the Securities and Exchange Commission (“SEC”) approved a change (the “Amendment”) to FINRA’s IPO allocation rule 5131 (the “Rule”).The Amendment allows a fund-of-funds to rely on a...more