Consumer Finance Monitor Podcast Episode: A Deep Dive into Mass Mailings by Debt Relief Law Firms
The SEC recently announced the settlement of multiple enforcement actions for violations of its whistleblower protection rule, which prohibits “any action to impede an individual from communicating directly with the...more
On September 4, the Securities and Exchange Commission (SEC) issued an order against three investment adviser firms for violating the whistleblower protections of Rule 21F-17(a) under the Securities Exchange Act of 1934. This...more
Who may be interested: Investment Advisers; Compliance Staff - Quick Take: The SEC announced that it had settled charges against a registered investment adviser (Adviser) for failing to establish, maintain, and enforce...more
Eighth Circuit Invalidates Missouri's Two-Year Lobbying Ban for Former Legislators and Staffers - The Eighth Circuit Court of Appeals invalidated a Missouri state constitutional amendment that imposed a two-year lobbying...more
The Securities and Exchange Commission (SEC) announced charges against 26 broker-dealers, investment advisers, and dually-registered firms for widespread and longstanding failures to maintain and preserve electronic...more
Who may be interested: Registered Investment Companies, Investment Advisers, Broker-Dealers - Quick Take: The SEC settled charges against a firm and the former head of the firm’s equity syndicate desk, arising out of a...more
Who may be interested: Investment Advisers, Broker-Dealers - Quick Take: The SEC settled charges against a firm that allegedly prevented brokerage customers and advisory clients from reporting potential securities law...more
We have often written about the SEC’s whistleblower program and, in particular, the success of the program with respect to detecting and preventing violations of the federal securities laws. The success of the program...more
Who may be interested: Investment Advisers. Quick Take: The SEC recently settled charges with nine investment advisers related to their use of hypothetical performance information on their websites without adopting or...more
Recently, the U.S. Securities and Exchange Commission (the “SEC”) announced charges against an investment adviser (the “Adviser”) for using hypothetical performance metrics in advertisements that were misleading pursuant to...more
The Maine Office of Securities enforces Maine’s securities laws, licenses broker-dealers, broker-dealer agents, investment advisers, and investment adviser representatives, and reviews registration statements and exemption...more
Who may be interested: Registered Investment Companies; Registered Investment Advisers; Boards of Directors; Compliance Staff. Quick Take: The SEC recently settled charges against a registered investment adviser (Adviser)...more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC recently settled charges against an investment adviser (Adviser) and one of the Adviser’s partial owners for breach of fiduciary duty in...more
Who may be interested: Registered Investment Advisers, Robo-advisers, Compliance Staff. Quick Take: The SEC settled charges against a registered adviser for misstating and omitting material information about the...more
Who may be interested: Registered Investment Advisers. Quick Take: The SEC settled charges against a registered investment adviser alleging that the adviser failed to timely disclose to its private fund clients its...more
Who may be interested: Registered Investment Advisers, Mutual Funds, Compliance Officers - Quick Take: The SEC settled charges against two affiliated registered investment advisers, alleging that the advisers failed to...more
Quick Take: The SEC settled charges with a valuation service provider in relation to the provider’s failure to disclose to its customers that its valuation methodologies could allow for valuations of certain fixed-income...more
The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more
Tracking the key areas of concern to SEC enforcement can be beneficial for issuers, investment advisers and others that may be subject to scrutiny by the Commission. For example, identifying key areas of focus by determining...more
On October 15, 2020, the Securities and Exchange Commission issued a settled administrative order charging Andeavor LLC with failing to devise and maintain adequate internal controls surrounding its buyback of company stock...more
The Securities and Exchange Commission (“Commission” or “SEC”) recently instituted settled administrative and cease-and-desist proceedings against a chief compliance officer of a registered investment adviser for record...more
On September 17, 2020, the SEC announced the imposition of a cease-and-desist order against private equity firm Welsh, Carson, Anderson & Stowe (Welsh Carson), an SEC-registered investment manager, in connection with alleged...more
This newsletter discusses noteworthy updates, key regulatory decisions and upcoming compliance reminders. In this edition, we review: ...SEC Changes Approach to Shareholder Proposal No-Action Requests ...SEC Issues...more
On April 30, 2019, the D.C. Circuit issued an important decision in Robare Group, Ltd. v. SEC, Slip Op. No. 16-1453, which rejected the long-standing approach of the Securities and Exchange Commission (Commission or SEC) that...more
In This Issue. The Securities and Exchange Commission (SEC) withdrew interpretive guidance pertaining to reliance on voting recommendations of proxy advisory firms in advance of their upcoming Roundtable on the U.S. proxy...more