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Investment Adviser Risk Management Disclosure Requirements

Lowenstein Sandler LLP

SEC Updates Guidance on the Use of Gross and Net Performance in Advertisements

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On March 19, the Securities and Exchange Commission (SEC) issued a new FAQ response1 that softens prior guidance on the use of gross and net performance in advertisements. The new FAQs (the New Guidance) reduce the burden of...more

Seward & Kissel LLP

Exchange-Traded Fund Fails to Clear SEC Staff Comment Process Prior to Launch

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Who may be interested: Exchange-Traded Funds, Registered Funds and their Investment Advisers - Quick Take: The Staff of the Securities and Exchange Commission (SEC) Division of Investment Management publicly issued a...more

Akin Gump Strauss Hauer & Feld LLP

SEC Staff Says it’s OK to Just Be Gross

On March 19, 2025, the staff of the U.S. Securities and Exchange Commission’s Division of Investment Management (the “Staff”) amended its FAQ page on marketing compliance and reversed its stand on a contentious issue with...more

SEC Compliance Consultants, Inc. (SEC³)

Predictions for 2025: What Private Fund Advisers Can Expect from SEC Examinations

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...more

Tannenbaum Helpern Syracuse & Hirschtritt LLP

SEC 2025 Exam Priorities and Considerations for the New Administration

On October 21, 2024, the Securities and Exchange Commission’s (the “SEC”) Division of Examinations (the “Division”) published its examination priorities for 2025. The published priorities inform SEC registrants, investors,...more

Woodruff Sawyer

Risk Mitigation for Asset Managers After the Demise of the Private Fund Adviser Rules

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While there is rest for weary legal and compliance pros at asset managers, and as you enjoy a cool Arnold Palmer in your hammock this Independence Day, spend a few minutes thinking about how your firm can leverage this moment...more

SEC Compliance Consultants, Inc. (SEC³)

Top Tips for Updating Your 2024 Compliance Program

Every year compliance officers face the unenviable job of performing their compliance program's annual review under Advisers Act Rule 206(4)-7). An essential element of that review is updating the firm's compliance policies...more

Guidepost Solutions LLC

Investment Advisers and Generative AI

Start Planning Now to Reduce Your Increased Money Laundering, Sanctions, and Conflicts of Interest Risks The introduction and use of generative artificial intelligence (GenAI) and predictive data analytics (PDAs) by...more

Seward & Kissel LLP

SEC Issues Updated Fall 2023 Regulatory Agenda

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Who may be interested: Registered Investment Companies, Investment Advisers - Quick Take: The Office of Information and Regulatory Affairs, a division of the Office of Management and Budget, recently issued the Fall 2023...more

ArentFox Schiff

2024 Examination Priorities for Investment Advisers from SEC Division of Examinations

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The US Securities and Exchange Commission (SEC) Division of Examinations recently released its 2024 Examinations Priorities, a yearly report that provides insight into the Division’s areas of focus to improve compliance,...more

Paul Hastings LLP

Public Company Watch: October 2023

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In the October edition of our Public Company Watch, we cover key issues impacting public companies, including the SEC adopting rules modernizing beneficial ownership reporting and short sale reporting, and issuing new C&DIs...more

Akin Gump Strauss Hauer & Feld LLP

SEC Releases Risk Alert on EXAMS Process

Investment Advisers: Assessing Risks, Scoping Examinations, and Requesting Documents* I. Introduction - The SEC-registered investment adviser (“adviser”) population is large and diverse, ranging from global asset managers...more

BakerHostetler

The SEC's Proposed Cybersecurity Rules: Regulatory Delay Does Not Bless Standing By

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The SEC’s Cybersecurity Proposals - The SEC has proposed four rules designed to address cybersecurity risk and management, including incident reporting by public companies....more

Goodwin

Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial...

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Regulatory Developments - Federal Reserve Invites Public Comment on Proposed Principles for Large Banking Organizations to Manage Climate-Related Financial Risks - On December 2, the Federal Reserve announced that it...more

White & Case LLP

Reminder: Voluntary ISS Annual Benchmark Policy Survey Due by August 31st

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Earlier this month, Institutional Shareholder Services ("ISS") released its annual global benchmark policy survey (the "ISS Survey"). The ISS Survey includes questions on "hot topics" in corporate governance, and its results...more

Moore & Van Allen PLLC

The Devil Really is in the Details: The SEC Proposed Rule on Cybersecurity Risk Management for Investment Advisors, Registered...

Late last month the Securities and Exchange Commission (“SEC”) charged JP Morgan, UBS and Trade Station with violations of Regulation S-ID based on a range of  inadequacies in their identity theft red flag policies and...more

Zuckerman Spaeder LLP

SEC Extends Comment Period on Proposed Rules Requiring Robust Climate-Related Disclosures

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On May 9, the U.S. Securities and Exchange Commission (“SEC”) announced that it will extend the public comment period on its proposed rules on climate-related disclosures by public companies. The comment period was scheduled...more

Mintz - Privacy & Cybersecurity Viewpoints

SEC Proposes New Cybersecurity Rules for Public Companies

Following closely on its proposal for substantial new cybersecurity requirements for investment advisers and registered investment companies, the Securities and Exchange Commission (SEC) unveiled a new slate of proposed...more

Ballard Spahr LLP

New SEC Proposed Cyber Rules Signal Concern About Systemic Risk

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After many years of signaling potential expansion of cybersecurity rules, the Securities and Exchange Commission (SEC) has issued in the past month two new sets of proposed rules governing cybersecurity.  The more recent set...more

White & Case LLP

SEC Proposes Mandatory Cybersecurity Disclosure Rules

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On March 9, 2022, the Securities and Exchange Commission ("SEC") proposed rules that would require public companies to make prescribed cybersecurity disclosures. The proposed rules would "strengthen investors' ability to...more

Alston & Bird

SEC Cements Expectations for Investment Advisers’ and Investment Companies’ Cyber Preparedness and Disclosure

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Our Privacy, Cyber & Data Strategy and Investment Management, Trading & Markets Teams review the Securities and Exchange Commission’s potentially transformative proposed rules that would require registered investment...more

Alston & Bird

SEC Proposes Rules for Private Fund Advisers

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Our Investment Management, Trading & Markets Team offers practical takeaways from the Securities and Exchange Commission’s pair of proposed rules that would bring extensive changes to how private fund advisers can do...more

Perkins Coie

SEC Proposes New Cybersecurity Risk Management Regime for Registered Funds and Advisers

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In today’s asset management landscape, cybersecurity threats are omnipresent, and with constantly evolving tools of attack, actual breaches have become increasingly prevalent. As the complexity, scope, and frequency of cyber...more

Burr & Forman

SEC Proposes Cybersecurity Rule for Advisers, Investment Companies

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On February 9, the SEC proposed new cybersecurity risk management regulations for investment advisers, registered investment companies (funds), and business development companies....more

Goodwin

Agencies Publish Notice and Request for Comment on Proposed Interagency Guidance on Third-Party Relationships

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In This Issue. The federal bank regulatory agencies requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships; the Office of the Comptroller of...more

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