News & Analysis as of

Enforcement Actions Business Development Companies

Alston & Bird

Investment Management, Trading & Markets Updates – December 2021

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NFA Adds Virtual Currency and Micro Contract Questions to Annual Questionnaire On December 6, 2021, the National Futures Association (NFA) released Notice I-21-42 to notify NFA members that new questions had been added to the...more

Troutman Pepper

Investment Management Update - June 2021

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The Office of the Chief Accountant of the SEC’s Division of Investment Management periodically issues “Dear Chief Financial Officer” letters to help registered investment companies, business development companies (BDCs), and...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

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In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Goodwin

Financial Services Weekly Roundup: Priming The Pump – Additional Actions To Combat COVID-19

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Priming the Pump. As the COVID-19 outbreak continues, the Board of Governors of the Federal Reserve System (Federal Reserve), consistent with the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), took additional...more

Blank Rome LLP

Regulatory Update and Recent SEC Actions - January 2020

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REGULATORY UPDATES - FINRA Issues Regulation Best Interest Checklist for Brokers - On October 8, 2019, the Financial Industry Regulatory Authority (“FINRA”) announced it will provide new resources to assist member firms...more

Dechert LLP

SEC Enforcement Staff Takes Aim at the BDC Space in Two Recent Actions

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In December 2018, the SEC announced two enforcement actions involving business development companies (BDCs) – one against Fifth Street Management, LLC, the former external registered investment adviser to two BDCs, and the...more

Eversheds Sutherland (US) LLP

SEC fines BDC investment adviser for misallocation of expenses and valuation failures

On December 3, 2018, the Securities and Exchange Commission (the SEC) entered an order (the Order) to settle charges arising out of an enforcement action against Fifth Street Management, LLC (FSM). FSM disclosed in March 2016...more

Goodwin

Financial Services Weekly News Roundup - December 2014 #3

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Amendment to Swaps Push-out Provision of Dodd-Frank: Section 630 of the recently passed Consolidated and Further Continuing Appropriations Act, 2015 (“Omnibus Spending Bill” – see p. 249) amends Section 716 of the Dodd-Frank...more

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