On March 19, 2025, the Securities and Exchange Commission’s (SEC) Division of Investment Management updated its Marketing Compliance Frequently Asked Questions (FAQ) to address industry confusion that has arisen in the wake...more
On June 5, 2024, the Fifth U.S. Circuit Court of Appeals (the Fifth Circuit) ruled, in a unanimous 3-0 decision, to vacate the U.S. Securities and Exchange Commission’s (SEC) much maligned Private Fund Advisers; Documentation...more
Investment managers required to file Form N-PX pursuant to Rule 14Ad-1 of the Securities Exchange Act of 1934, as amended, will face their initial Form N-PX filing deadline on August 31, 2024. Although the filing obligation...more
On December 26, 2023, the Securities and Exchange Commission (the SEC) issued an administrative cease and desist order against a middle market private equity firm (the Private Equity Firm) for failure to enforce its own...more
On August 23, 2023, the Securities and Exchange Commission (the SEC) adopted new rules and rule amendments (collectively, the “Rules”) under the Investment Advisers Act of 1940, as amended (the Advisers Act) to enhance the...more
8/25/2023
/ Books & Records ,
Investment ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Management ,
Private Funds ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Effective February 1, 2022, the Department of Labor (DOL) began enforcement of portions of the Prohibited Transaction Exemption 2020-02 (PTE 2020-02 or the Exemption). ...more
On December 18, 2020, the United States Department of Labor (the DOL) adopted Prohibited Transaction Exemption 2020-02, Improving Investment Advice for Workers & Retirees (PTE 2020-02 or the Exemption), a new prohibited...more
12/29/2021
/ Corporate Counsel ,
Department of Labor (DOL) ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Management ,
Prohibited Transactions ,
Regulation Best Interest ,
Retirement Plan
On August 26, 2020 the Securities Exchange Commission (SEC) announced the adoption of amendments to expand the definition of “accredited investor” and “qualified institutional buyer”. The amendments, published in the Federal...more
On October 7, 2020, the Securities and Exchange Commission (SEC) proposed an exemptive order which would permit “finders” (i.e., natural persons engaged by issuers) to solicit accredited investors in connection with private...more
On June 23, 2020, the Office of Compliance Inspections and Examination (OCIE) of the Securities and Exchange Commission (SEC) published a risk alert (Risk Alert) that highlighted certain compliance deficiencies observed by...more
As the outbreak of the coronavirus disease (COVID-19) spreads across the globe, its impact on markets, businesses and portfolios continues to grow. The challenges and opportunities COVID-19 presents to those in the investment...more