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Securities and Exchange Commission (SEC) Commodities Futures Trading Commission Investment Adviser

Morgan Lewis

US Administration, Congress, and SEC and CFTC Leadership Push for Unified Digital Asset Framework

Morgan Lewis on

February 2025 has already proven to be a busy month in the congressional and US Securities and Exchange Commission public discourse regarding the digital assets sector. Members of the SEC and US Congress made significant...more

Morrison & Foerster LLP

Extended Compliance Date for Recent Form PF Amendments

The new year always marks the start of a busy regulatory filing season for registered investment advisers, including investment advisers that file Form PF (“Form PF Filers”). This year could be especially challenging since,...more

Mayer Brown Free Writings + Perspectives

SEC and CFTC Extend Compliance Deadline for Form PF Amendments

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have extended the compliance deadline for the amendments to Form PF, moving it from March 12, 2025 to June 12, 2025....more

Foley Hoag LLP

Important Dates and Reminders for Investment Advisers, Exempt Reporting Advisers, Commodity Trading Advisors and Commodity Pool...

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INVESTMENT ADVISERS - Annual Compliance Reviews - All investment advisers registered with the Securities and Exchange Commission (“SEC”) or at the state level are required to review their compliance policies and...more

Proskauer Rose LLP

SEC and CFTC Extend Compliance Date for Form PF Amendments

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On January 29, 2025, the Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (together, the “Agencies”) jointly announced that the compliance date for the new Form PF would be extended by three...more

Holland & Knight LLP

A Long Winter's Nap? SEC Off-Channel Communications Enforcement May Draw to a Close

Holland & Knight LLP on

The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 33

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Seward & Kissel LLP

Changes Are Coming

Seward & Kissel LLP on

Elections, as they say, have consequences. That bit of political wisdom certainly will be true again this time around—our president-elect has been announcing appointees for cabinet positions that are bound to bring about...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 32

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Morgan Lewis

The SEC’s Recent Off-Channel Communications Settlements Create More Uncertainty

Morgan Lewis on

Since December 2021, the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have been conducting a sweep of Wall Street’s “off-channel” communications—such as text messages, iMessages,...more

A&O Shearman

SEC Reaches Three Separate Resolutions In Continued Focus On Whistleblowers And Rule 21F-17(a)

A&O Shearman on

In September 2024, the Securities and Exchange Commission (“SEC” or “the Commission”) resolved three separate actions against corporate entities for reaching agreements with employees, potential employees, and clients that,...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 30

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Sullivan & Worcester

SEC and CFTC Continue Their Lucrative Pursuits of Penalizing Unapproved Communication Methods

Sullivan & Worcester on

SEC's and CFTC's Enforcement Actions Against Multiple Firms - In its continued pursuit of rooting out and penalizing broker-dealers and investment advisers for their failure to prevent unapproved communication methods, the...more

Alston & Bird

SEC and CFTC Rake In $474 Million in Fines for Off-Channel Communications, Rewarding Registrants That Self-Disclosed

Alston & Bird on

Two and a half years after the first major settlement with some of the world’s largest financial institutions, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) persist in their...more

Katten Muchin Rosenman LLP

Selection of Gov. Walz as VP Harris's Running Mate Triggers Federal Pay-to-Play Restrictions on Investment Advisers and Other...

Vice President Kamala Harris's selection of Minnesota Gov. Tim Walz as her running mate imposes restrictions on campaign contributions to the Harris-Walz campaign by federally registered investment advisers (RIAs), exempt...more

Morrison & Foerster LLP

Significant Investment Adviser Regulatory Developments in 2024

Alongside the rapid pace of Securities and Exchange Commission (SEC) rulemaking, the SEC and its Staff continue to shape regulatory obligations for investment advisers in 2024 through guidance, alerts, enforcement actions,...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: Presidential Election Campaign Donations May Trigger Investment Adviser “Pay to Play” Rule

Overview: Investment advisers that seek to manage public money need to consider the SEC’s “pay to play” rule, which restricts election-related contributions by the firms or their “covered associates” to elected state...more

Sullivan & Worcester

Taking Steps Toward Federal Blockchain and Cryptocurrency Regulation

Sullivan & Worcester on

On May 22, 2024, with bi-partisan support, the U.S. House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (“FIT21”), becoming the first major cryptocurrency legislation to...more

Proskauer Rose LLP

Proskauer's Hedge Start: What Key Exemptions Apply to Hedge Funds?

Proskauer Rose LLP on

We have separately discussed the common exemptions from registration of a fund manager with the Securities and Exchange Commission (SEC) as an investment adviser and from registration with the Commodity Future Trading...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - May 2024 - 2

Securities and Exchange Commission. Customer ID requirements. On May 13, 2024, SEC and FinCEN proposed a rule designed to make it more difficult for criminal actors to establish customer relationships with investment...more

Carlton Fields

Expect Focus - Volume II, May 2024

Carlton Fields on

Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Carlton Fields

SEC and CFTC Amend Form PF … Again: Private Fund Advisers Should “Kick the Tires” Before Next Race to File

Carlton Fields on

In February 2024, the SEC and the Commodity Futures Trading Commission (CFTC) adopted major amendments to Form PF to provide greater transparency into the operations and strategies of private funds, and to assist the...more

Proskauer Rose LLP

Proskauer's Hedge Start: When Is CFTC Registration Necessary?

Proskauer Rose LLP on

An initial question faced by a new hedge fund manager is whether or not registration with the U.S. Commodity Futures Trading Commission (CFTC) will be required. Limited Trading Exemption - CFTC Rule 4.13(a)(3), which...more

Latham & Watkins LLP

Key Takeaways From SEC’s First “Off-Channel Communications” Settlement With Stand-Alone Registered Investment Adviser

Latham & Watkins LLP on

The SEC’s enforcement action sends a clear message that the Commission intends to enforce “off-channel communication” violations against private fund advisers that are not affiliated with a broker-dealer....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SEC, Federal Regulators Target Employees’ Use of Text Messages, Off-Channel Communications

The U.S. Securities and Exchange Commission (SEC) and other financial regulators are targeting regulated entities over their employees’ use of personal messaging apps and other off-channel electronic communication platforms,...more

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