The SEC just proposed major updates that could make life easier for BDCs, closed-end funds, and their advisers when it comes to co-investing. Under the proposed relief granted to FS Credit Opportunities Corp., the SEC is…
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/ Business Organizations, Finance & Banking, Securities Law
SEC Clarifies Marketing Rule, Warms up to Crypto and Private Placements under 506(c), and Backs off Form SHO; Latest Lessons from EXAMS: Duty of Care and Risk Identification Failures - Welcome to our February and March 2025…
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/ Administrative Law, Business Organizations, Finance & Banking, Science, Computers, & Technology, Securities Law
Many compliance officers live in hope that if they ramp up their persuasive skills, engage employees with spectacular training presentations, and provide succinct and prompt advice, they will receive the respect and recognition…
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/ Business Organizations, Commercial Law & Contracts, Securities Law
There has been a lot of conjecture that the SEC may become friendlier to registrants because of the new administration. Given the SEC’s mandate to protect the investing public, however, we do not expect SEC examiners to become…
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/ Business Organizations, Finance & Banking, Securities Law
For most investment advisers, March signals the beginning of Form ADV season, where compliance officers gather all kinds of firm data to update a document fraught with potential regulatory liability. For the uninitiated, Form…
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/ Finance & Banking, Securities Law
Trump Picks New SEC Head, SEC Enforcement Starts Strong in 2025, and Latest Lessons from EXAMS: Details Matter and Duty of Care Fails - Welcome to our January 2025 Regulatory Roundup, where we provide practical advice on the…
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/ Administrative Law, Business Organizations, Finance & Banking, Securities Law
As we look back on the SEC’s actions in 2024, we wanted to share our thoughts on lessons learned that we believe will carry through to 2025…
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/ Finance & Banking, Securities Law
Welcome to our December 20243 Regulatory Roundup, where we provide practical advice on the latest regulatory headlines. We start this issue with the SEC’s 2024 enforcement results, which fell somewhat short after its 2023 banner…
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/ Business Organizations, Finance & Banking, Securities Law
In addition to basic blocking and tackling, compliance officers often have the thankless job of performing the annual review of their compliance program required by Advisers Act Rule 206(4)-7…
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/ Business Organizations, Finance & Banking, Securities Law
Compliance officers love checklists, so we’ve put together some “to dos” to consider completing before the end of the year. Enjoy!…
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/ Business Organizations, Finance & Banking, Securities Law
After its fiscal year-end frenzy in September, the SEC relaxed slightly, with no new rule-making and fewer enforcement actions. So, I took a break last month and combined the October and November Roundups. (You’re welcome.)…
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/ Business Organizations, Finance & Banking, Securities Law
In the SEC’s burst of settlements at the end of its fiscal year, one case about the potential misuse of material nonpublic inside information (“MNPI”) shows just how far down in the weeds it is willing to go to prevent insider…
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/ Business Organizations, Finance & Banking, Securities Law
Advisers Drafted by FinCEN for AML Duty, More Fines for E-Comm Retention Failures and a September Miracle, SEC Falls Back on Broken Windows Strategy, and a Refusal to Give Up on Private Fund Rules - FinCEN added to advisers’…
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/ Administrative Law, Finance & Banking, Securities Law
September 30 is the SEC’s fiscal year-end, so it's no surprise to see an uptick in enforcement cases this month. The latest slew of settlements involved violations of the Marketing Rule (Advisers Act Rule 204(4)-1) for “untrue…
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/ Commercial Law & Contracts, Finance & Banking, Securities Law
More Flack on WhatsApp, Hypothetical Performance SmackDown, A Timely Warning on the Pay-to-Play Rule, and Updates to Qualifying Venture Capital Fund Exemption - This month's big news from the SEC was more piggy-bank breaking…
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/ Business Organizations, Finance & Banking, Securities Law
