Videocast: Asset management regulation in 2020 videocast series – The ADV season
Proposed amendments would significantly expand small entity thresholds and introduce automatic inflation adjustments. On January 7, 2026, the US Securities and Exchange Commission (SEC) proposed amendments (Proposal) to...more
On January 15, 2026, the staff of the Division of Investment Management (the “staff”) of the Securities and Exchange Commission (the “SEC”) updated its Marketing Compliance-Frequently Asked Questions (“FAQs”) to include two...more
On January 7, 2026, the Securities and Exchange Commission (“SEC”) proposed amendments to the rules that define which registered investment companies, investment advisers, and business development companies qualify as small...more
On January 7, 2026, the Securities and Exchange Commission (“SEC”) proposed amendments to the rules that define which registered investment companies, investment advisers, and business development companies qualify as “small...more
On December 29, 2025, the Securities and Exchange Commission (the “SEC”), through a rule amendment,1 delegated authority to the Director of the Division of Investment Management to authorize the issuance of orders to grant,...more
On December 29, 2025, the Securities and Exchange Commission (the “SEC”) issued a final rule delegating authority to the Director (the “IM Director”) of the Division of Investment Management (“IM”) to grant, deny, and revoke...more
As artificial intelligence (AI) systems such as ChatGPT and other generative tools gain traction across the financial services industry, investment advisers are increasingly exploring ways to leverage AI in their operations....more
On September 4, 2025, the U.S. Securities and Exchange Commission (SEC) brought its first enforcement action under the Marketing Rule since Chair Paul Atkins was sworn in earlier this year—charging Meridian Financial, LLC...more
Earlier this year, the U.S. Court of Appeals for the First Circuit vacated and remanded a $93 million district court judgment entered against a broker-dealer and investment adviser for allegedly inadequate disclosures of...more
Three recent enforcement actions highlight the risks of failing to adhere to representations made to investors regarding ESG and biblically responsible investing strategies....more
On September 9, 2024, approximately one year since its first flurry of similar Marketing Rule actions, the Securities and Exchange Commission (the SEC) announced settlements with nine SEC-registered investment advisers (the...more
On April 17, 2024, the SEC’s Division of Examinations issued its latest risk alert regarding Rule 206(4)-1 of the Investment Advisers Act of 1940, known as the Marketing Rule. Following the examinations staff’s June 2023 and...more
The staff of SEC’s Division of Examinations (the “Staff”) recently issued a Risk Alert (the “Alert”) outlining the Staff’s initial observations from sweep exams conducted to assess SEC registered investment advisers’ (“RIAs”)...more
On April 17th, the SEC issued a Risk Alert titled “Initial Observations Regarding Advisers Act Marketing Rule Compliance.” Perusing the list of failures, a sense of familiarity arose, given that one of our clients had been...more
On April 17, 2024, the Division of Examinations (the “Division”) of the Securities and Exchange Commission (the “SEC”) published a Risk Alert entitled: “Initial Observations Regarding Advisers Act Marketing Rule Compliance”...more
On April 17, 2024 the Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) issued a Risk Alert regarding investment advisers’ compliance with amended Investment Advisers Act Rule 206(4)-1 (the...more
On March 27, 2024, the US Securities and Exchange Commission (SEC) adopted amendments to Rule 203A-2(e) of the Investment Advisers Act of 1940 (the Advisers Act) (the Internet Adviser Exemption)....more
On March 27, 2024 the Securities and Exchange Commission (“SEC”) adopted amendments to Rule 203A-2(e) under the Investment Advisers Act of 1940 (the “Advisers Act”). Rule 203A-2(e) provides an exemption from the prohibition...more
Brief Overview - On 27 March 2024, the US Securities and Exchange Commission (SEC) adopted amendments (the Amendments) to Rule 203A-2(e) under the Investment Advisers Act of 1940 (Advisers Act). Rule 203A-2(e) is commonly...more
On March 27, 2024, the Securities and Exchange Commission adopted amendments to modernize the rule for internet investment advisers relying on the exemption that qualifies them for SEC registration as smaller investment...more
On September 5, the U.S. Securities and Exchange Commission (SEC) announced enforcement actions against five investment advisers for violating Rule 206(4)-2 (the Custody Rule) and Rule 204-1(a) (the ADV Reporting Rule) of the...more
On June 8, 2023, the Securities and Exchange Commission’s (“SEC”) Division of Examinations (“Division”) released a risk alert (the “Risk Alert”) outlining the SEC’s broadened examination priorities with respect to revised...more
On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) proposed to exercise its authority by amending and re-designating Rule 206(4)-2 under the Investment Advisers Act of 1940 (the Custody Rule)....more
On February 15, 2023, the U.S. Securities and Exchange Commission (“SEC”) issued a proposed rule (the “Proposal”) under the Investment Advisers Act of 1940 (the “Advisers Act”), which would (i) amend certain provisions of the...more
On February 15, 2022 the US Securities and Exchange Commission (SEC) proposed sweeping changes to Rule 206(4)-2 (the Custody Rule) under the Investment Advisers Act of 1940 (Advisers Act), which would be redesignated as Rule...more