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Quant Firm Applies to Issue ETF Share Classes in Mutual Funds

Dimensional Fund Advisors LP ("Dimensional"), a quantitative investment firm, recently filed an application for exemptive relief ("Application") with the Securities and Exchange Commission ("SEC"), seeking permission to offer...more

SEC Brings First Liquidity Rule Enforcement Action Against Investment Adviser and Fund Board

On May 5, 2023, the Securities and Exchange Commission ("SEC") filed charges against Pinnacle Advisors LLC ("Pinnacle Advisers"), an investment adviser, for allegedly aiding and abetting violations of Rule 22e-4 (the...more

SEC Amendments to Share Repurchase Disclosure Rules Impact BDCs and Exchange-Traded Registered Closed-End Funds

On May 3, 2023, the Securities and Exchange Commission ("SEC") adopted amendments to its existing rules regarding disclosures about purchases of an issuer's equity securities by or on behalf of the issuer or an affiliated...more

SEC Staff Issues Bulletin on the Care Obligations of Advisers and Broker-Dealers to Retail Investors

On April 20, 2023, the staff of the Securities and Exchange Commission (the “SEC”) published an FAQ‑style bulletin[1] that provides guidance on the care obligations of broker‑dealers and investment advisers in providing...more

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