On Oct. 7, 2020, the Securities and Exchange Commission (SEC) voted to adopt a new rule (Rule 12d1-4), and related amendments to existing rules and forms, to enact a comprehensive regulatory framework for “fund of funds”...more
Section 2(a)(41)(B) of the Investment Company Act of 1940 (1940 Act) requires that portfolio securities without readily available market quotations be valued at “fair value as determined in good faith by the board of...more
Last Monday, the Securities and Exchange Commission (SEC) voted to propose new Rule 2a-5 under the Investment Company Act of 1940 (1940 Act) establishing a framework for funds’ fair value determinations (Proposed Rule)....more
On Dec. 18, 2019, the Securities and Exchange Commission (SEC or Commission) proposed amendments to broaden the definition of “Accredited Investor” under Regulation D to cover a broader group of investors, including adding...more
12/20/2019
/ Accredited Investors ,
Comment Period ,
Fund Managers ,
Hedge Funds ,
Investment ,
Investment Funds ,
Investment Management ,
Private Equity ,
Private Funds ,
Proposed Amendments ,
Regulation D ,
Regulatory Agenda ,
Retail Investors ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
On Aug. 1, the Securities and Exchange Commission (the SEC) charged Commonwealth Equity Services LLC, dba Commonwealth Financial Network (Commonwealth), a registered independent investment adviser to private clients (but not...more
9/3/2019
/ Breach of Duty ,
Broker-Dealer ,
Conflicts of Interest ,
Disclosure Requirements ,
Disgorgement ,
Enforcement Actions ,
Failure To Disclose ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Funds ,
Investment Management ,
Mutual Funds ,
Permanent Injunctions ,
Prejudgment Interest ,
Revenue Sharing ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Share Classes ,
Statutory Violations ,
Unjust Enrichment
Both the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) recently released their respective 2018 examination priorities, providing a glimpse into their plans for the year to...more
3/2/2018
/ Anti-Money Laundering ,
Capital Raising ,
Cryptocurrency ,
Customer Due Diligence (CDD) ,
Digital Currency ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
Initial Coin Offering (ICOs) ,
Investment Funds ,
OCIE ,
Popular ,
Regulatory Agenda ,
Regulatory Oversight ,
SEC Examination Priorities ,
Secondary Markets ,
Securities and Exchange Commission (SEC) ,
Token Sales ,
Virtual Currency
On Oct. 26, 2017, the U.S. Treasury Department (Treasury) released the latest installment in a series of reports on financial regulation required by the president’s Feb. 3 executive order on the financial system....more
12/1/2017
/ Asset Management ,
Capital Markets ,
CFTC ,
Commodity Pool ,
Dodd-Frank ,
ETFs ,
Executive Orders ,
Financial Regulatory Reform ,
Insurance Industry ,
Investment Funds ,
Liquidity Risk Management Rule ,
Stress Tests ,
Trump Administration ,
U.S. Treasury ,
Volcker Rule