SFDR and Asset Allocators. The European Green Deal declared climate change and environmental degradation as existential threats to Europe and the world. The European Union (EU) has set out to mobilize private financial...more
12/12/2022
/ AIFM ,
Climate Change ,
Corporate Governance ,
Disclosure Requirements ,
Due Diligence ,
EU ,
Financial Services Industry ,
Fund Managers ,
Greenwashing ,
Investment ,
Portfolio Companies ,
SFDR ,
Sustainability
On June 23, 2020, the U.S. Securities and Exchange Commission (SEC) Division of Examinations (EXAMS) issued a risk alert based on 5 years of examinations of registered investment advisers that manage private equity funds or...more
On June 15, 2021, the Securities and Exchange Commission (SEC) announced settled charges against real estate settlement services company First American Financial Corporation for disclosure controls and procedures violations...more
On March 15, the SEC announced a 90 day consultation period on mandatory climate change disclosure. Acting Chair Lee cited to the December 2020 work of the ESG Sub-Committee of the Asset Management Advisory Committee which in...more
Three recent developments in relation to ESG related disclosures are of note: (1) on March 10th, the US Department of Labor announced it would not enforce its own rules related to ESG investing, (2) on the same day the EU’s...more
3/16/2021
/ Climate Change ,
Corporate Counsel ,
Corporate Governance ,
Corporate Misconduct ,
Department of Labor (DOL) ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Investment ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
SFDR
On February 26, 2021, the SEC’s Division of Examinations issued a Risk Alert signaling an exam focus this year on activities of investment advisers, broker-dealers, exchanges, and transfer agents related to Digital Asset...more
3/5/2021
/ Anti-Money Laundering ,
Broker-Dealer ,
Conflicts of Interest ,
Cryptocurrency ,
Digital Assets ,
Disclosure Requirements ,
Investment Adviser ,
Offerings ,
Registration Requirement ,
Risk Alert ,
Securities and Exchange Commission (SEC) ,
Securities Exchanges ,
Transfer Agents
On February 24, 2021, Acting Chair of the Securities and Exchange Commission Allison Herren Lee released a public statement directing the Division of Corporation Finance to enhance its focus on climate-related risk...more
On November 2, 2020, the SEC’s Division of Enforcement issued its 2020 Annual Report for the fiscal year ending September 30, 2020. While the Enforcement Division filed 405 standalone enforcement actions – the lowest total in...more
11/12/2020
/ Audits ,
Compensation ,
Coronavirus/COVID-19 ,
Custody Rule ,
Disclosure Requirements ,
Fund Transfers ,
Insider Trading ,
Investment Advisers Act of 1940 ,
Misallocation of Funds ,
MNPI ,
Past Performance ,
Private Funds ,
Securities and Exchange Commission (SEC)
Non-Enforcement -
Remember to Update Your Risk Disclosure on an Ongoing Basis -
The staff of the Securities and Exchange Commission (SEC) issued guidance reminding mutual funds, exchange traded funds, and other...more
4/4/2016
/ Breach of Duty ,
Conflicts of Interest ,
Directors ,
Disclosure Requirements ,
Enforcement Actions ,
Exchange-Traded Products ,
Fees ,
Fiduciary Duty ,
Form ADV ,
Intermediaries ,
Investor Protection ,
Mutual Funds ,
New Guidance ,
Penalties ,
Registered Investment Advisors ,
Registered Investment Companies (RICs) ,
Risk Assessment ,
Securities and Exchange Commission (SEC)
Non-Enforcement -
SEC Decides Against Mounting an Appeal in Koch Ruling -
The July 2015 ruling by the D.C. Circuit Court in Koch v. SEC will apparently not be challenged by the SEC. The Court ruled in that...more
11/2/2015
/ Auditors ,
Board of Directors ,
Breach of Duty ,
Cease and Desist Orders ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Compliance ,
Conflicts of Interest ,
Cyber Threats ,
Cybersecurity ,
Disclosure Requirements ,
Disgorgement ,
Division of Investment Management ,
Dodd-Frank ,
Enforcement Actions ,
Exemptive Orders ,
Fiduciary Duty ,
Fixed Income Investments ,
Guidance Update ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Company Act of 1940 ,
Investment Management ,
Investor Protection ,
Liquidity Risk Management Rule ,
Meals-Gifts-and Entertainment Rules ,
Mismanagement ,
Money Market Funds ,
Municipal Advisers ,
Mutual Funds ,
NRSRO ,
Popular ,
Prejudgment Interest ,
Private Funds ,
Proposed Regulation ,
Recordkeeping Requirements ,
Registered Investment Advisors ,
Risk Mitigation ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Testimonial Statements ,
Valuation
Non-Enforcement Cybersecurity Is At the Top of SEC Examination Concerns In a recent SEC “risk alert” for registered broker-dealers and investment advisers, the SEC’s Office of Compliance Inspections and Examinations (OCIE)...more
10/1/2015
/ Blue Sky Laws ,
Board of Directors ,
Broker-Dealer ,
Chief Compliance Officers ,
Civil Monetary Penalty ,
Cyber Attacks ,
Cyber Threats ,
Cybersecurity ,
Data Breach ,
Data Privacy ,
Data Protection ,
Data Security ,
Derivatives ,
Disclosure Requirements ,
ETFs ,
Free Identity Theft Protection ,
Hackers ,
Investment Portfolios ,
Liquidity Risk Management Rule ,
Mutual Funds ,
NAV ,
New Guidance ,
OCIE ,
Personally Identifiable Information ,
Policies and Procedures ,
Proposed Regulation ,
Registered Investment Advisors ,
Regulation S-P ,
Remedial Actions ,
Reporting Requirements ,
Risk Alert ,
Risk Assessment ,
Risk Management ,
Sanctions ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments ,
Senior Managers ,
Servicing Agreements ,
Share Redemption ,
Shareholder Distributions ,
Swing Pricing