REGULATORY UPDATES -
Recent SEC Leadership Changes -
The Securities and Exchange Commission (the “SEC”) announced the appointment of Deborah J. Jeffrey as Inspector General effective May 7, 2023. Prior to this...more
REGULATORY UPDATES -
Recent SEC Leadership Changes -
On January 10, 2023, the Securities and Exchange Commission (the “SEC”) announced the appointment of Cristina Martin Firvida as director of the Office of the Investor...more
4/17/2023
/ AARP ,
Cybersecurity ,
Dodd-Frank ,
Enforcement Actions ,
IFRS ,
Investors ,
Popular ,
Proposed Rules ,
Registered Investment Advisors ,
Regulation S-P ,
Retail Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Self-Regulatory Organizations ,
Special Purpose Acquisition Companies (SPACs)
REGULATORY UPDATES -
Recent SEC Leadership Changes -
The Securities and Exchange Commission (the “SEC”) announced that Megan Barbero, currently SEC Principal Deputy General Counsel, will be appointed General Counsel,...more
1/19/2023
/ 10b5-1 Plans ,
Broker-Dealer ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
ETFs ,
Final Rules ,
Insider Trading ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Proposed Rules ,
Proxy Voting ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Shareholders
REGULATORY UPDATES -
SEC Announces Leadership Changes -
Anthony (“Tony”) C. Thompson was appointed to a second term as a board member of the Public Company Accounting Oversight Board (“PCAOB”), which will run until...more
10/18/2022
/ Board of Directors ,
Diversity ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investors ,
PCAOB ,
Proposed Amendments ,
Proxy Voting ,
Rule 14a-8 ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals
REGULATORY UPDATES -
Senate Confirms Jackson as Supreme Court Justice -
The Senate has voted to confirm Judge Ketanji Brown Jackson as the 116th Supreme Court justice and the first Black woman and former public defender to...more
REGULATORY UPDATES -
William Birdthistle Named Director of Division of Investment Management -
On December 21, 2021, the Securities and Exchange Commission (“SEC”) announced the appointment of William A. Birdthistle as...more
1/19/2022
/ Electronic Filing ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
ETFs ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
PCAOB ,
Popular ,
Proxy Voting ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC)
REGULATORY UPDATES -
SEC Leadership Changes -
On April 17, 2021, Gary Gensler was sworn into office as the Chair of the Securities and Exchange Commission (the “SEC”). Gensler served as chair of the U.S. Commodity Futures...more
7/16/2021
/ Broker-Dealer ,
Corporate Governance ,
Diversity ,
Dodd-Frank ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Popular ,
Proxy Voting ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
Swap Data Repositories ,
Universal Proxy Cards
REGULATORY UPDATES -
SEC -
Leadership Changes On April 14, 2021, the U.S. Senate voted to approve President Biden’s nomination of Gary Gensler as Chairman of the Securities and Exchange Commission (the “SEC”) through June...more
4/16/2021
/ CFTC ,
Department of Labor (DOL) ,
Employee Retirement Income Security Act (ERISA) ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
No-Action Relief ,
OCIE ,
Popular ,
Retail Investors ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC)
REGULATORY UPDATES -
SEC Proposes Conditional Exemption for Finders Assisting Small Businesses with Capital Raising -
On October 7, 2020, the Securities Exchange Commission (the “SEC”) proposed a conditional exemption...more
1/27/2021
/ Auditor Independence ,
Auditors ,
Broker-Dealer ,
CFTC ,
Derivatives ,
Dodd-Frank ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Investment Adviser ,
Popular ,
Regulation S-X ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps
REGULATORY UPDATES -
SEC Adopts Amendments to Exemptive Applications Procedures -
On July 6, 2020, the Securities and Exchange Commission (the “SEC”) announced the adoption of rule amendments that establish an expedited...more
COVID-19 RELATED REGULATORY UPDATES -
SEC Provides Temporary, Conditional Relief for BDCs Making Investments in Small and Medium-Sized Businesses...more
COVID-19 RELATED REGULATORY UPDATES -
SEC Emphasizes the Importance of Delivering Timely and Material Information to Investment Company Investors...more
As the coronavirus (“COVID-19”) continues to impact this country and all countries across the globe, businesses in every industry, including the investment company industry, must adapt to the quarantining and other...more
REGULATORY UPDATES -
FINRA Issues Regulation Best Interest Checklist for Brokers -
On October 8, 2019, the Financial Industry Regulatory Authority (“FINRA”) announced it will provide new resources to assist member firms...more
1/17/2020
/ Business Development Companies ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Institutional Shareholder Services (ISS) ,
Investment Adviser ,
Investment Company Act of 1940 ,
OCIE ,
Proposed Amendments ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Shareholders
REGULATORY UPDATES -
Allison Herren Lee Sworn in as Commissioner -
On July 8, 2019, Allison Herren Lee was sworn into office as a Securities and Exchange Commission (“SEC") Commissioner. Lee was nominated to the SEC by...more
11/6/2019
/ Division of Investment Management ,
Enforcement Actions ,
ETFs ,
Fiduciary Duty ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
OCIE ,
Proxy Voting Guidelines ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC) ,
Testing-the-Waters Communications
REGULATORY UPDATES -
Allison Herren Lee Sworn in as Commissioner -
On July 8, 2019, Allison Herren Lee was sworn into office as a Securities and Exchange Commission (“SEC") Commissioner. Lee was nominated to the SEC by...more
REGULATORY UPDATES -
Investors Continue to Press Regulators for Disclosure of Environmental, Social, and Governance (“ESG”) Risks...more
7/19/2019
/ Broker-Dealer ,
Cybersecurity ,
Department of Labor (DOL) ,
Division of Investment Management ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
ETFs ,
Fiduciary Duty ,
Fiduciary Rule ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Investors ,
Mutual Funds ,
OCIE ,
Popular ,
Regulation S-P ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC)
REGULATORY UPDATES -
Financial Industry Regulatory Authority (“FINRA”) Releases Its 2019 Priorities -
On January 22, 2019, FINRA released its Annual Risk Monitoring and Examination Priorities Letter, which highlighted the...more
4/19/2019
/ Arbitration ,
Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
EDGAR ,
Emerging Growth Companies ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Fixing America’s Surface Transportation Act (FAST Act) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
No-Action Letters ,
Popular ,
Securities and Exchange Commission (SEC) ,
SIFMA
Fund and Investment Management January 2019 (No. 1) REGULATORY UPDATES Policy Initiatives Set Forth by the U.S. Securities and Exchange Commission’s (“SEC”) Investment Management Division On September 28, 2018, Division of...more
1/18/2019
/ Broker-Dealer ,
CCO ,
Cybersecurity ,
Data Breach ,
DTCC ,
Email ,
Enforcement Actions ,
ETFs ,
Investment Companies ,
Investment Management ,
Investors ,
NASAA ,
OCIE ,
Proposed Regulation ,
Securities and Exchange Commission (SEC)
REGULATORY UPDATES -
The U.S. Securities and Exchange Commission (“SEC”) Rule Permitting Electronic Delivery of Materials as Default Method Faces Backlash -
On August 8, 2018, the Coalition for Paper Options (“CPO”),...more
REGULATORY UPDATES -
U.S. Securities and Exchange Commission (“SEC”) Proposes Rule Change to Address Auditor Independence -
On May 3, 2018, the SEC proposed to amend its auditor independence rule, Rule 2-01 of...more
7/30/2018
/ Administrative Law Judge (ALJ) ,
Anti-Money Laundering ,
Auditor Independence ,
Auditors ,
Department of Labor (DOL) ,
Enforcement Actions ,
Fiduciary Rule ,
Financial Industry Regulatory Authority (FINRA) ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Proposed Amendments ,
Regulation S-X ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Shareholders ,
Trump Administration
REGULATORY UPDATES -
U.S. Securities and Exchange Commission (“SEC”) Offers Responses to Frequently Asked Questions on New Liquidity Rule -
On January 10, 2018, the Division of Investment Management issued responses to a...more
Funds and Investment Management -
REGULATORY UPDATES -
Novel Exchange Traded Fund (“ETF”) to be Powered by IBM’s Watson -
On October 17, 2017, San Francisco-based “EquBot” announced that it is launching an ETF...more
Investment Firm VanEck Launches Bitcoin Exchange Traded Fund (“ETF”) One Week after Calling Bitcoin a “Fad” -
On August 10, 2017, Joe Foster, portfolio manager and strategist for the money management firm VanEck, expressed...more
10/17/2017
/ Bitcoin ,
Cyber Threats ,
Digital Currency ,
EDGAR ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
Investment Adviser ,
OCIE ,
Popular ,
Securities and Exchange Commission (SEC)
REGULATORY UPDATE -
Ten Investment Advisory Firms Subject to Steep Penalties after Violating Pay-to-Play Rules -
In January 2017, 10 investment advisory firms agreed to settle with the U.S. Securities and Exchange...more