Asset Management, Securities Exchange Act of 1934

SEC Initiates Sweep of Adviser on T+1 Compliance

K&L Gates LLP on 7/22/2024

Over the last week, several registered investment advisers have received examination letters, issued from both the Securities and Exchange Commission’s national office in Washington, D.C., and from at least one regional...more

Supreme Court Limits Shareholder Suits based on "Pure Omissions" in Corporate Disclosures

K&L Gates LLP on 4/17/2024

On Friday, 12 April 2024, the United States Supreme Court unanimously ruled that a corporation’s failure to disclose certain information about its future business risks, without more, cannot form the basis of a private...more

SEC Expands "Dealer" Definition to Capture Liquidity Providers

K&L Gates LLP on 3/4/2024

Introduction - On 6 February 2024, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt two new rules that significantly expand the definitions of a “dealer” and “government securities dealer” in Sections...more

US Asset Management Regulatory Year in Review 2023

K&L Gates LLP on 1/22/2024

It is a dramatic understatement to describe 2023 as a busy year in the United States for asset management regulation. With 24 rules adopted and 18 new rules or rule amendments proposed, the US Securities and Exchange...more

SEC Reopens Comment Period for Beneficial-Ownership Reporting Requirements Rule Proposal

Dechert LLP on 5/3/2023

The U.S. Securities and Exchange Commission (the “SEC”) announced on April 28, 2023, that it has reopened the comment period for its February 2022 Modernization of Beneficial Ownership Reporting rule proposal (the “Proposed...more

Progress for M&A Brokers: Congress Passes New Exemption from Securities Broker Registration

K&L Gates LLP on 1/20/2023

As noted in our prior blog post, on 29 December 2022, President Biden signed into law the Consolidated Appropriations Act of 2023 (H.R. 2617). Among the routine federal funding provisions, the bill included a holiday surprise...more