On April 8, 2025, Acting SEC Chairman Mark T. Uyeda gave a speech signaling that the SEC may revisit the current minimum assets under management (“AUM”) threshold for federal registration, potentially reducing the number of...more
On March 2, 2025, the U.S. Department of the Treasury issued a press release announcing that it would not enforce any penalties or fines or take other enforcement actions against U.S. citizens or domestic reporting companies...more
2023’s excitement for generative artificial intelligence (AI) prompted the SEC to respond on multiple fronts – stump speeches, rulemaking, new exam priorities and sweeps and previewing potential enforcement actions. SEC Chair...more
ESG continues to be a hot topic for 2024 for investors and regulators alike. The specific concerns investors and regulators have – and what they expect to develop over the coming months – differ, however, across...more
4/1/2024
/ Breach of Duty ,
Disclosure Requirements ,
Enforcement ,
Environmental Social & Governance (ESG) ,
EU ,
Fiduciary Duty ,
Financial Statements ,
Form 10-K ,
Greenhouse Gas Emissions ,
Greenwashing ,
Investors ,
Jurisdiction ,
Proposed Rules ,
Regulation S-K ,
Regulation S-X ,
Regulatory Agenda ,
Sustainability ,
UK
Yesterday, the five SEC commissioners voted 3-2, along party lines, to approve the Private Fund Adviser Rules. The final Rules scale back from what was initially proposed 18 months ago, in ways that are likely to be a relief...more
Implications of SEC attempt to curb indemnification for private fund managers -
The SEC spent 2022 making multiple and sweeping proposals to amend rules under the Advisers Act, many of which have the ability to...more
On May 25, the Securities and Exchange Commission (“SEC”) issued proposed rules under the Investment Advisers Act of 1940 (“Advisers Act”) for advisers to private funds that consider environmental, social or governance...more
6/13/2022
/ Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Private Funds ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC)
The SEC last month proposed rules under the Advisers Act indicating a dramatic shift in how the SEC intends to reduce conflicts of interest involving private fund managers and their investors. As we previously noted in the...more
5/3/2022
/ Anti-Fraud Provisions ,
Clawbacks ,
Conflicts of Interest ,
Fund Managers ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Investors ,
Private Funds ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Final comments were due last week to the Securities and Exchange Commission (SEC)’s proposed cybersecurity risk management rules for registered investment advisers, registered investment companies and business development...more
4/28/2022
/ Cybersecurity ,
Data Privacy ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investment Management ,
Popular ,
Proposed Rules ,
Registered Funds ,
Risk Management ,
Securities and Exchange Commission (SEC)