The Division of Investment Management of the U.S. Securities and Exchange Commission (the SEC) released new guidance on March 19, 2025 that replaces and relaxes prior guidance for registered investment advisers (RIAs) with...more
It’s election season in America – and for investment advisers (registered or exempt), that means a renewed focus on Rule 206(4)-5, the political contributions rule, commonly known as the “pay-to-play rule.”...more
On February 13, 2024, U.S. Department of the Treasury’s Financial Crimes Enforcement Network issued a Notice of Proposed Rulemaking seeking to expand the Bank Secrecy Act’s definition of “financial institution” to include...more
Effective January 1, 2024, new Treasury regulations under the Corporate Transparency Act (CTA) will require many U.S. entities and foreign entities doing business in the United States to report identifying beneficial owner...more
The United States (U.S.) Securities and Exchange Commission (SEC) has passed new rules imposing new requirements and obligations on the private fund industry. Whilst the rules are significantly less onerous than originally...more
The U.S. Securities and Exchange Commission (SEC) adopted final private fund rules under the U.S. Investment Advisers Act of 1940 (the Advisers Act) on August 23, 2023. Although the final rules are significantly less onerous...more
The U.S. Securities and Exchange Commission (the SEC) proposed new rules for broker-dealers and registered investment advisers (RIAs) on Wednesday, July 26, 2023 that are intended to address potential conflicts of interest...more
The U.S. Securities and Exchange Commission (SEC) adopted final amendments to Form PF, the confidential reporting form required for certain SEC-registered investment advisers (RIAs) to private funds, on 3 May 2023. The...more
Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation...more
Silicon Valley Bank (SVB), the U.S.’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit Insurance Corporation...more
Silicon Valley Bank (SVB), the US’s 16th largest bank, was closed on Friday, March 10, 2023, by the California Department of Financial Protection and Innovation which appointed the Federal Deposit Insurance Corporation (FDIC)...more
The U.S. Securities and Exchange Commission (SEC) proposed broad changes to Advisers Act Rule 206(4)-2, popularly known as the “custody rule,” on February 15, 2023. The amendments would create a new Rule 223-1 that would...more
On February 7, the Division of Examinations within the U.S. Securities and Exchange Commission (the SEC) released its annual list of examination priorities for investment advisers regulated by the SEC under the U.S....more
The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) proposed joint amendments to Form PF, a confidential reporting form required of certain SEC-registered investment advisers...more
8/23/2022
/ CFTC ,
Commodities Traders ,
Commodity Trading Advisors (CTAs) ,
Compliance ,
Form PF ,
Fund Managers ,
Hedge Funds ,
Investment Adviser ,
Private Funds ,
Proposed Amendments ,
Public Comment ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On 25 May, the Securities and Exchange Commission (the SEC) introduced a proposal to amend certain rules and forms under the U.S. Investment Advisers Act of 1940 (the Advisers Act) and the U.S. Investment Company Act of 1940...more
On March 29, the Division of Examinations1 (the Division) within the U.S. Securities and Exchange Commission (the SEC) released its annual list of examination priorities for investment advisers regulated by the SEC under the...more
The U.S. Securities and Exchange Commission (SEC) proposed new rules promulgated under the U.S. Advisers Act of 1940 (the Advisers Act) on Wednesday, 9 February 2022. Pointing to over US$18 trillion in assets under private...more
The U.S. Securities and Exchange Commission (SEC) proposed a new exemptive order on Wednesday, October 7, which would exempt certain “finders” from broker-dealer registration under Section 15(a) of the U.S. Securities...more
10/15/2020
/ Broker-Dealer ,
Financial Services Industry ,
Financial Transactions ,
Finders ,
Fund Managers ,
Investment Adviser ,
Investment Management ,
Regulatory Agenda ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation
The U.S. Securities and Exchange Commission (SEC) adopted amendments on Wednesday, August 26 to several rules under the U.S. Securities Act of 1933 (Securities Act) to modernize, expand, and clarify the definition of...more
Last week, the U.S. Securities and Exchange Commission (SEC) proposed new rules to expand and clarify the definition of "accredited investor" under the U.S. Securities Act of 1933. Among other things, the rules would open...more
Funds Bulletin (a monthly round-up of topical legal, regulatory and tax issues affecting the fund industry). Features our summary of the FSCP's position paper on the impact of Brexit on financial services consumers, as well...more
3/7/2017
/ Deregulation ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Markets ,
FSMA ,
Investment Funds ,
IOSCO ,
Packaged Retail And Insurance-Based Investment Products (PRIIPS) ,
Regulatory Oversight ,
Tax Reform ,
Transparency Directive ,
Trump Administration ,
Two For One Rule ,
UCITS ,
UK ,
UK Brexit
Earlier this month, the Securities and Exchange Commission (SEC) announced its Office of Compliance Inspections and Examinations’ (OCIE) 2017 Examination Priorities regarding certain practices, products, and services that...more
1/31/2017
/ AML/CFT ,
Anti-Money Laundering ,
Broker-Dealer ,
BSA/AML ,
Cybersecurity ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
OCIE ,
Personally Identifiable Information ,
Popular ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Terrorism Funding