Kilpatrick Townsend’s Kate McCurry and Thomas Cain recently attended the Institutional Limited Partners Association’s Legal Conference. The conference provided an opportunity to discuss trending legal topics in the private...more
Last week, the Securities and Exchange Commission (the “SEC”) proposed amendments to Regulation S-P (the “Proposal”) that would require registered investment advisers (“RIAs”), broker-dealers (“BDs”), investment companies...more
Each year, the SEC’s Division of Examinations (the “Division”) releases its priorities for the upcoming year, providing SEC registrants with a helpful tool to assist in managing, reviewing, and updating their compliance...more
This week, a federal district court in the Middle District of Florida invalidated the Department of Labor’s ("DOL") policy as to when advice provided by a financial institution or financial professional on a rollover from an...more
On January 5, 2023, the Federal Trade Commission (“FTC”) issued a proposed rule that would prohibit almost all non-compete agreements between employers and workers (e.g., employees and independent contractors)....more
The Securities and Exchange Commission (the “SEC”) has again set its sights on registrants’ environmental, social, and governance (“ESG”)-related investing. In another major action against registrants involving ESG-related...more
Last week, the Securities and Exchange Commission (the “SEC”) released a proposed rule (the “Proposed Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) that, if adopted as proposed, would require SEC...more
On October 26, 2022, the Securities and Exchange Commission (the “SEC”) adopted final rule and form amendments (the “Rules”) updating the annual and semi-annual shareholder reports (collectively, “Reports”) that mutual funds,...more
November 4, 2022, the compliance date for the Securities and Exchange Commission’s (the “SEC”) new marketing rule (Rule 206(4)-1 under the Advisers Act) (the “Marketing Rule”), is quickly approaching. Have you reviewed your...more
On May 25, 2022, the Securities and Exchange Commission (the “SEC”) announced proposed amendments (the “Proposal”) to Rule 35d-1 under the Investment Company Act of 1940 (the “Names Rule”), aimed at modernizing the Names Rule...more
In a recent administrative order (the “Order”), the Securities and Exchange Commission (the “SEC”) charged a registered broker-dealer (the “Broker-Dealer”) with improper switching or replacing of variable annuities in...more
The Securities and Exchange Commission (the “SEC”) has regularly emphasized its focus on environmental, social, and governance (“ESG”)-related investing and the importance of registrants having accurate disclosures on ESG...more
On May 3, 2022 the Securities and Exchange Commission (the “SEC”) announced the addition of 20 new positions to the Division of Enforcement’s newly renamed Crypto Assets and Cyber Unit (formerly known as the Cyber Unit),...more
Each year, the SEC’s Division of Examinations (the “Division”) releases its priorities for the upcoming year, providing SEC registrants with a helpful tool to assist in managing, reviewing, and updating their compliance...more
With cybersecurity incidents increasing in frequency and notoriety, the Securities and Exchange Commission (the “SEC”) has set its sights on fortifying cybersecurity regulations across the entire financial industry, including...more
On February 9, 2022, the Securities and Exchange Commission (the “SEC”) released proposed rules (the “Proposed Rules”) under the Investment Advisers Act of 1940 (the “Advisers Act”) that, if adopted as proposed, would...more
Not long after we released our recent alert titled SEC Continues Focus on Conflicts Disclosures in Enforcement Actions Totaling $106 Million in Fines and Disgorgement, the U.S. Securities and Exchange Commission (the...more
The U.S. Securities and Exchange Commission (the “Commission”) recently entered into four consent orders (collectively, the “Orders” and each, an “Order”) with registered investment advisers (“RIAs” and each, an “RIA”) that...more
In recent weeks, we have observed significant new developments in securities regulation related to two enforcement actions by the U.S. Securities and Exchange Commission (the “Commission”) and an unexpected (and, to our...more
FINRA Rules -
On July 15, 2021, FINRA announced that it has updated its rules regarding the offering of private placement securities to expand the existing requirement that each broker-dealer that issues and/or sells a...more
On June 23, 2021, the U.S. Securities and Exchange Commission (the “Commission”) entered an administrative order1 (the “Order”) that, among other things, fined a broker-dealer (“BD”) $208,912 for alleged violations of Rule...more
On April 9, 2021, the SEC’s Division of Examinations (f.k.a. OCIE) (the “Division”) released a risk alert (the “Alert”) highlighting observations from exams of registered investment advisers (“RIAs”), registered investment...more
Each year, the SEC’s Division of Examinations (f.k.a. OCIE) (the “Division”) releases its priorities for the upcoming year, providing SEC registrants with a helpful tool to assist in managing, reviewing, and updating their...more
4/12/2021
/ Anti-Money Laundering ,
Broker-Dealer ,
Environmental Social & Governance (ESG) ,
ETFs ,
Fiduciary Duty ,
FinCEN ,
FinTech ,
Form CRS ,
Investment Adviser ,
OCIE ,
Registered Investment Advisors ,
Regulation Best Interest ,
REIT ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)