On March 6, the SEC released its long-anticipated adopting release amending Rule 605. Separately, in late February, FINRA issued Regulatory Notice 24-05 discussing new FINRA Rule 6151, which requires member firms to provide...more
On March 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted much-anticipated final rules for climate-related disclosures (Final Rules). The Final Rules, adopted by a 3-2 vote along party lines, will...more
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed rules to significantly expand and standardize climate-related disclosures in SEC periodic reports and registration statements. According to...more
In February 2022, the Financial Industry Regulatory Authority (FINRA) released the 2022 Report on FINRA’s Examinations and Risk Monitoring Program. This annual document aims to provide guidance to the broker-dealer industry....more
The Securities and Exchange Commission (“SEC”), under Chairman Gary Gensler, continues to propose rules at a rapid pace. Three of the most recent proposed rules would significantly impact investment advisers by:...more
On Oct. 13, 2021, senior officials from the U.S. Securities and Exchange Commission’s Division of Enforcement* convened for a panel discussion at the annual SEC Speaks conference, held virtually for the second consecutive...more
On May 20, 2021, President Biden took action to address the economic impact of climate change by signing an executive order on climate-related financial risk. The order directs federal agencies to begin analyzing and...more
Yesterday, the Securities and Exchange Commission (SEC) announced a new “Climate and ESG Task Force” to be housed within its Division of Enforcement and to be led by Acting Deputy Director of Enforcement Kelly L. Gibson. Ms....more
What is the Issue?
It may not be “death by a thousand cuts” but it may feel like it, as yet another mutual fund fee issue is being raised by the regulators. FINRA issued a “targeted examination letter” focused on Rights of...more
On November 9, 2020, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced the results of its examination of nearly 40 SEC-registered investment advisers that operate multiple branch offices (the...more