CARES Act – Retirement Plan Distributions and Loans: Troutman Sanders and Pepper Hamilton COVID-19 Issues for Employers Podcast Series
The SEC recently settled enforcement actions against William Blair and two Calvert companies for using mutual fund assets to pay distribution-related expenses in violation of Investment Company Act Rule 12b-1 and for certain...more
Investment Adviser AXA Wins Excessive Fee Trial - A federal judge in New Jersey has ruled in favor of AXA Equitable Life Insurance Company (AXA Equitable) and its wholly owned subsidiary, AXA Equitable Funds Management...more
The Department of Labor (DOL) has issued the final version of its “investment advice” regulation (Final Rule), which is widely expected to impact significantly the financial services industry, including registered investment...more
Since at least March 2016, SEC examiners have reportedly been checking whether mutual fund firms are complying with the SEC staff’s recent guidance on “distribution-inguise.” The guidance suggests that fund boards,...more
On January 6, 2016, the Securities and Exchange Commission’s (“SEC”) Division of Investment Management issued its first written guidance (“New Guidance”) on payments made by mutual funds to intermediaries for distribution and...more
The SEC has long considered whether mutual funds are making distribution payments “in guise”—i.e., payments primarily intended to result in sales of fund shares but disguised as something else. See “Feds Dig for Disguised...more
"Wherefore Art Thou Due Process?" Part III - Why it matters: It is time for another installment in our continuing "Wherefore Art Thou Due Process?" coverage into the ongoing constitutional challenges to the SEC's...more