In the first of two episodes, Lynda A. Bennett talks with Matt Sabino and John McKenna, managing partners at ARC Excess and Surplus; Justin Kudler, senior vice president and senior claims counsel for ARC Excess and Surplus,...more
On November 25, 2024, the U.S. Department of Justice (DOJ) and the U.S. Securities and Exchange Commission (SEC, and collectively with DOJ, the Government) brought parallel criminal and civil enforcement actions against the...more
12/9/2024
/ Department of Justice (DOJ) ,
Enforcement Actions ,
Illegal Conduct ,
Investment ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investment Portfolios ,
Omnibus Trade and Competitiveness Act of 1988 ,
SEC Examination Priorities ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
On October 21, 2024, the U.S. Securities and Exchange Commission (SEC) Division of Examinations (the Division) released its annual Examination Priorities for fiscal year 2025 (the Report). The Report identifies certain...more
11/14/2024
/ Advisors Act ,
Bank Secrecy Act ,
Broker-Dealer ,
BSA/AML ,
Code of Conduct ,
Compliance ,
Enforcement Actions ,
Fiduciary Duty ,
Investment Adviser ,
Private Funds ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
The U.S. Supreme Court recently decided SEC v. Jarkesy. That decision held that individuals subject to U.S. Securities and Exchange Commission (SEC or Commission) enforcement actions in which the SEC seeks civil penalties for...more
7/19/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Enforcement Actions ,
Federal Rules of Civil Procedure ,
Jury Trial ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Seventh Amendment ,
Tariffs ,
Tribal Governments
On September 5, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against five investment advisers for violating Rule 206(4)-2 (the Custody Rule) and Rule 204-1(a) (the ADV Reporting Rule) of the...more
10/19/2023
/ Audited Financial Statements ,
Client Funds ,
Custodians ,
Custody Rule ,
Enforcement Actions ,
Form ADV ,
GAAP ,
Investment Advisers Act of 1940 ,
Marketing ,
PCAOB ,
Performance Standards ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to address what it perceives as certain conflicts...more
9/26/2023
/ Borrowers ,
Clawbacks ,
Compliance ,
Consent ,
Disclosure Requirements ,
Enforcement Actions ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Legacy Funds ,
Negligence ,
Notice Requirements ,
Portfolio Managers ,
Private Funds ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Willful Misconduct ,
Written Consent
As we previously wrote, the Securities and Exchange Commission (the “SEC”) proposed several rules that would impose additional requirements on private fund managers (“Managers”), many of which relate to various types of...more
As evidenced by an influx of recent activity over the past month, it’s becoming more and more apparent that the U.S. Securities and Exchange Commission (SEC) is strengthening its regulatory framework and pushing forward with...more
On November 2, the Securities and Exchange Commission’s Division of Enforcement (the Division) published its 2020 Annual Report (the Report), which details the Division’s fiscal year (FY) ending September 30, 2020,...more
11/10/2020
/ Broker-Dealer ,
Coronavirus/COVID-19 ,
Disgorgement ,
Enforcement ,
Enforcement Actions ,
Financial Fraud ,
Investment Adviser ,
OCIE ,
Securities and Exchange Commission (SEC) ,
Whistleblower Awards ,
Whistleblowers