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Corporate Governance › Investment Company Act of 1940 › Enforcement Actions

Carlton Fields

Can Shareholders Rescind an Investment Company’s Contracts Based on 1940 Act Violations?

Carlton Fields on

Section 47(b) of the Investment Company Act of 1940 provides that contracts that violate or “whose performance involves, a violation of” the act are not enforceable by “either party.” ...more

WilmerHale

Cross-Trading at a Crossroads

WilmerHale on

Once upon a time, in 1994, when I was a young lawyer in the SEC’s Division of Investment Management (Division), Office of Chief Counsel, we received a request to modify a previously granted but totally impractical no-action...more

Blank Rome LLP

Regulatory Update and Recent SEC Actions - July 2021

Blank Rome LLP on

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

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2015: Developing and Maintaining a Modern U.S. Compliance Program

Dechert LLP on

When the SEC adopted Rules 38a-1 under the Investment Company Act of 1940 (Investment Company Act) and 206(4)-7 under the Investment Advisers Act of 1940 (Advisers Act) in 2003 – which required registered funds and registered...more

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