Last week, SEC Chair Gary Gensler gave the keynote speech for the 2021 Institutional Limited Partners Association’s virtual summit. Gensler focused his remarks exclusively on private funds and detailed his view that private...more
During last week’s testimony before the Senate Committee on Banking, Housing, and Urban Affairs, the questioning of SEC Chair Gary Gensler focused on the expected topics of cryptocurrency regulation, ESG disclosures, and...more
On February 26, 2021, the SEC’s Division of Examinations issued a Risk Alert signaling an exam focus this year on activities of investment advisers, broker-dealers, exchanges, and transfer agents related to Digital Asset...more
3/5/2021
/ Anti-Money Laundering ,
Broker-Dealer ,
Conflicts of Interest ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Investment Adviser ,
Offerings ,
Registration Requirement ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Transfer Agents
SEC Speaks, the annual PLI conference that gives practitioners the chance to hear directly from SEC Staff, was held on October 8 and 9 in a virtual setting. While the conference (like everything else) felt a bit different...more
Non-Enforcement -
Mutual Fund Directors Must Be Vigilant in Addressing Risks -
In remarks to the Mutual Fund Directors Forum, SEC Chair Mary Jo White outlined some of the risks and challenges that mutual fund...more
6/3/2016
/ 12b-1 plan ,
Civil Monetary Penalty ,
Conflicts of Interest ,
Custody Rule ,
Directors ,
Disgorgement ,
Enforcement Actions ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Liquidity ,
Mutual Funds ,
No-Action Relief ,
PCAOB ,
Permanent Injunctions ,
Prejudgment Interest ,
Private Funds ,
Risk Assessment ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Sub-advisers ,
Summary Judgment ,
Third-Party Service Provider
Non-Enforcement -
Remember to Update Your Risk Disclosure on an Ongoing Basis -
The staff of the Securities and Exchange Commission (SEC) issued guidance reminding mutual funds, exchange traded funds, and other...more
4/4/2016
/ Breach of Duty ,
Conflicts of Interest ,
Directors ,
Disclosure Requirements ,
Enforcement Actions ,
Exchange-Traded Products ,
Fees ,
Fiduciary Duty ,
Form ADV ,
Intermediaries ,
Investor Protection ,
Mutual Funds ,
New Guidance ,
Penalties ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
Non-Enforcement -
SEC Decides Against Mounting an Appeal in Koch Ruling -
The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more
11/2/2015
/ Auditors ,
Board of Directors ,
Breach of Duty ,
Cease and Desist Orders ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Compliance ,
Conflicts of Interest ,
Cyber Threats ,
Cybersecurity ,
Disclosure Requirements ,
Disgorgement ,
Division of Investment Management ,
Dodd-Frank ,
Enforcement Actions ,
Exemptive Orders ,
Fiduciary Duty ,
Fixed Income Investments ,
Guidance Update ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Company Act of 1940 ,
Investment Management ,
Investor Protection ,
Liquidity Risk Management Rule ,
Meals-Gifts-and Entertainment Rules ,
Mismanagement ,
Money Market Funds ,
Municipal Advisers ,
Mutual Funds ,
NRSRO ,
Popular ,
Prejudgment Interest ,
Private Funds ,
Proposed Regulation ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Risk Mitigation ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Testimonial Statements ,
Valuation
Non-Enforcement -
Form PF — What Purpose?
SEC registered investment advisers with at least $150 million of assets under management in private funds are required to periodically file Form PF with the SEC. The...more
8/31/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Board of Directors ,
Breach of Duty ,
CFTC ,
Chief Compliance Officers ,
Compliance ,
Conflicts of Interest ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
EU ,
European Securities and Markets Authority (ESMA) ,
Excessive Fees ,
Failure To Disclose ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Form PF ,
FSOC ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
IOSCO ,
Meals-Gifts-and Entertainment Rules ,
Mutual Funds ,
National Private Placement Regimes (NPPR) ,
Penalties ,
Private Funds ,
Risk Management ,
SCOTUS ,
SEC Examination Priorities ,
Section 36(b) ,
Securities and Exchange Commission (SEC) ,
Transparency ,
UK