As reported today, Vice President Harris has announced Tim Walz, the sitting governor of Minnesota, as her running mate. This announcement is particularly significant for investment advisers due to the Advisers Act Political...more
As we reach the midpoint of 2024, the SEC has maintained its rigorous enforcement stance on the private funds industry, proposing new rules and oversight tools to better identify and investigate market practices. As 2024...more
6/14/2024
/ Artificial Intelligence ,
Data Retention ,
Employee Training ,
Enforcement ,
Fraud ,
Fund Managers ,
Hedge Funds ,
Indemnification ,
Instant Messaging Apps ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
New Rules ,
Pay-To-Play ,
Policies and Procedures ,
Private Funds ,
Recordkeeping Requirements ,
Retail Investors ,
Securities and Exchange Commission (SEC)
The SEC’s recent settlement involving a “pay-to-play” rule violation by a private equity firm is a timely reminder for fund managers, especially with the November elections approaching.
As a refresher, Rule 206(4)-5 of...more
5/29/2024
/ Compliance ,
Employee Training ,
Enforcement ,
Exempt Reporting Advisers (ERAs) ,
Fund Managers ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Pay-To-Play ,
Political Contributions ,
Private Equity Firms ,
Securities and Exchange Commission (SEC) ,
Settlement
On January 13, 2020, the United States Supreme Court denied certiorari to an appeal of a June 2019 order from the United States Court of Appeals for the D.C. Circuit that dismissed an action seeking to invalidate certain...more
2/27/2020
/ Broker-Dealer ,
Compelling Governmental Interest ,
Denial of Certiorari ,
Financial Industry Regulatory Authority (FINRA) ,
First Amendment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
MSRB ,
Pay-To-Play ,
Political Contributions ,
Quid Pro Quo ,
Regulatory Requirements ,
Rule G-37 ,
Securities and Exchange Commission (SEC) ,
Time-Barred Claims
The SEC’s pay-to-play rule has given advisers reason to worry about potential foot faults since its adoption. As we have noted in prior posts, the rule is filled with landmines and is therefore difficult to navigate. As was...more
Private investment funds and advisers are likely to face new regulatory challenges and increased litigation risks in 2017, not only because of a change in the administration, but also because many advisers have not corrected...more
2/10/2017
/ Acquisition Agreements ,
Advertising ,
Business Development ,
Business Litigation ,
Capital Raising ,
Conflicts of Interest ,
Dodd-Frank ,
Financial Institutions ,
Financial Markets ,
Hedge Funds ,
Industry Examinations ,
Initial Public Offering (IPO) ,
Internal Controls ,
Investment ,
Marketing ,
Merger Agreements ,
OCIE ,
Pay-To-Play ,
Portfolio Companies ,
Private Equity ,
Private Funds ,
Public Offerings ,
Regulatory Oversight ,
Restructuring ,
Securities ,
Securities and Exchange Commission (SEC) ,
Snapchat ,
Unicorns ,
Valuation ,
Venture Capital ,
Whistleblowers