After numerous calls for the U.S. Securities and Exchange Commission (SEC) to provide clarity on the role of “finders” in the capital markets ecosystem, the SEC sought to provide that clarity at a meeting held on October 7,...more
Cybersecurity has been a key examination priority for the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) for many years. On July 10, 2020, it issued a risk alert warning of...more
The staff of the Division of Investment Management (the “Division”) of the Securities and Exchange Commission (SEC) issued a statement on April 14, 2020, reminding investment companies of their regulatory obligations to...more
The Securities and Exchange Commission (SEC) recently adopted Rule 6c-11 under the Investment Company Act of 1940 (the “Act”), which removes the need for most exchange-traded fund (ETF) sponsors to obtain individual exemptive...more
10/18/2019
/ Amended Rules ,
Compliance ,
Exchange-Traded Products ,
Exemptive Orders ,
Final Rules ,
Form N-1A ,
Investment Company Act of 1940 ,
Policies and Procedures ,
Portfolio Managers ,
Proposed Rules ,
Rule 6c-11 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
As part of its “Reg BI Package”, approved on June 5, 2019, the Securities and Exchange Commission (the “SEC”) sought to clarify the fiduciary duty that an investment adviser owes to its clients under the Investment Advisers...more
7/24/2019
/ Broker-Dealer ,
Conflicts of Interest ,
Disclosure Requirements ,
Duty of Care ,
Duty of Loyalty ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Standard of Conduct