On January 11 and 19, 2018, the Fort Worth, Texas Regional Office (the Office) of the Securities and Exchange Commission (the SEC) hosted conference calls during which the Director and Associate Regional Director of the...more
In April 2017, the full text of an updated version of the CHOICE Act (CHOICE 2.0) was released followed by a hearing on its contents. On June 8, 2017, the House Financial Services Committee released the draft of CHOICE 2.0, a...more
On June 27, the staff of the Securities and Exchange Commission’s (Commission or SEC) Division of Investment Management (IM) issued a Guidance Update on business continuity planning for registered investment companies...more
7/18/2016
/ Business Continuity Plans ,
Chief Compliance Officers ,
Compliance ,
Cybersecurity ,
Disaster Preparedness ,
Guidance Update ,
Investment Advisers Act of 1940 ,
OCIE ,
Popular ,
Proposed Regulation ,
Registered Investment Companies (RICs) ,
Securities and Exchange Commission (SEC) ,
Third-Party Service Provider
In response to requests for comment from the U.S. Securities and Exchange Commission (SEC), Sutherland Asbill & Brennan LLP recently submitted comment letters on two SEC rulemaking projects pertinent to business development...more
The U.S. Securities and Exchange Commission (SEC) Division of Investment Management recently issued a notice with regard to the application for co-investment relief filed by Apollo Investment Corporation and certain of its...more
On July 16, 2015, the agencies responsible for implementing the Volcker rule (Agencies) issued FAQ 16, which provides guidance on the circumstances under which a seed investment would not cause (i) a registered investment...more
Emphasizing the critical importance of cybersecurity to registered investment companies (RICs), including insurance separate accounts and business development companies, and to investment advisers, the SEC’s Division of...more
On March 10, 2015, the Internal Revenue Service released Notice 2015-18, which provides advance notification of a provision that is expected to be included in final regulations to be issued under section 529A of the Internal...more
The U.S. Securities and Exchange Commission (SEC) Division of Investment Management (the Division) just published guidance that will permit business development companies (BDCs) to co-invest with certain persons considered...more
On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based...more
On December 10, 2013, the Federal Reserve Board (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission, and the Commodity Futures...more
1/15/2014
/ Antitrust Provisions ,
Bank Holding Company Act ,
Banks ,
CFTC ,
Collateralized Debt Obligations ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
OCC ,
Private Funds ,
Proprietary Trading ,
Securities and Exchange Commission (SEC) ,
Volcker Rule
On December 10, 2013, the U.S. Federal Reserve, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Commodity Futures Trading Commission, and the Securities and Exchange Commission...more
1/10/2014
/ Banks ,
Business Development Companies ,
Dodd-Frank ,
FDIC ,
Federal Reserve ,
Investment Company Act of 1940 ,
OCC ,
Proprietary Trading ,
RICs ,
Securities and Exchange Commission (SEC) ,
Volcker Rule
During an open meeting of the U.S. Securities and Exchange Commission (the SEC) on July 10, 2013, the SEC adopted a rule that lifts the ban on general solicitation of unregistered securities offerings and paves the way for...more
On December 4, 2012, the Commodity Futures Trading Commission’s (CFTC’s) Division of Swap Dealer and Intermediary Oversight (DSIO) issued no-action relief from commodity pool operator (CPO) registration requirements for...more