News & Analysis as of

Cryptoassets Investment Advisers Act of 1940

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for March 2024

Each month we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •The Fifth Circuit’s stay of the SEC’s recent adoption of...more

Freiberger Haber LLP

Enforcement News: SEC Files Complaint in Connection with a $300 Million Ponzi Scheme and Affinity Fraud

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By: Jeffrey M. Haber On many occasions, we have written about Ponzi schemes that have been the subject of enforcement actions brought by, and/or settlements with, the Securities and Exchange Commission (“SEC” or the...more

Davis Wright Tremaine LLP

Investment Adviser Expectations in 2024

Like many other industries, Registered Investment Advisers ("RIAs") have dealt with significant regulatory, technological, and systemic change in recent years. Compared to FINRA-regulated entities, RIAs often face these...more

Dechert LLP

SEC Division of Examinations Releases 2024 Priorities

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The SEC’s Division of Examinations (EXAMS) published its report on 2024 Examination Priorities on October 16, 2023. The 2024 Examination Priorities continue to reflect an examination program that is vigorous and broad...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

K&L Gates LLP

The SEC Publishes 2024 Examination Priorities Ahead of Schedule, Previewing Key Areas of Focus for Registered Entities

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On 16 October 2023, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year (the Report). The Division released this Report...more

Latham & Watkins LLP

SEC Outlines 2024 Examination Priorities

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The priorities highlight emerging and core risk areas for investment advisers, broker-dealers, and other entities, including cybersecurity and crypto assets. On October 16, 2023, the Securities and Exchange Commission’s...more

ArentFox Schiff

2024 Examination Priorities for Investment Advisers from SEC Division of Examinations

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The US Securities and Exchange Commission (SEC) Division of Examinations recently released its 2024 Examinations Priorities, a yearly report that provides insight into the Division’s areas of focus to improve compliance,...more

Seward & Kissel LLP

SEC Charges FinTech Investment Adviser with First Violation of the Marketing Rule and Additional Compliance Violations

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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

Orrick, Herrington & Sutcliffe LLP

SEC charges fintech investment adviser for misleading advertising

On August 21, the SEC announced charges against a New York-based fintech investment adviser for using hypothetical performance metrics in misleading advertisements, compliance failures that led to misleading disclosures, and...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: June 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Bracewell LLP

FINRA Facts and Trends: May 2023

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Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This...more

Hogan Lovells

SEC proposes overhaul of ‘custody rule’ to include all assets as part of new ‘safeguarding rule’

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The U.S. Securities and Exchange Commission (SEC) proposed broad changes to Advisers Act Rule 206(4)-2, popularly known as the “custody rule,” on February 15, 2023. The amendments would create a new Rule 223-1 that would...more

Proskauer - Blockchain and the Law

Regulation in the Post-FTX Environment: SEC’s Proposed Enhanced Custody Rule and Its Effects on Crypto

When it rains, it pours. On January 23, 2023, the New York Department of Financial Services announced that it had issued certain Guidance on Custodial Structures for Customer Protection in the Event of Insolvency in which it...more

Snell & Wilmer

SEC Division of Examinations Priorities for 2023

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On February 7, 2023, the Division of Examinations (the Division) of the U.S. Securities and Exchange Commission (the SEC) issued its annual examination priorities.1 Consistent with its 2022 examination priorities and the...more

Seward & Kissel LLP

The New Whopper: SEC Proposes New Safeguarding Rule Which Would Have Significant Impact on Advisers That Engage with...

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Just days after a flurry of crypto-related enforcement actions, the SEC voted to propose the new “Safeguarding Rule” under the Advisers Act, a whopper of a rule proposal which would amend and replace the current Custody Rule...more

Foley & Lardner LLP

SEC Proposed Safeguarding Rule

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On February 15th 2023, the Securities and Exchange Commission (the “SEC”, or the “Commission”) proposed a new safeguarding rule. Comments must be received by the SEC on or before 60 days after the rule’s publication in the...more

Cooley LLP

Why Crypto Fund Managers Are Distressed Over the SEC’s Newly Proposed Safeguarding Rule

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Note: This post is not intended to be a comprehensive summary of the Safeguarding Rule. Rather, it is intended to highlight some of the key requirements for fund managers should the SEC adopt the rule, as well as immediate...more

Tonkon Torp LLP

SEC Division of Examinations Announces 2023 Priorities

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On February 7, 2023, the Securities and Exchange Commission’s Division of Examinations announced its fiscal year 2023 examination priorities. This year, the Division continues its focus on protecting investors by prioritizing...more

Goodwin

DOL Finalizes Rule Opening Door to ESG Investing in Retirement Plans

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Regulatory Developments - CFPB Issues Guidance on Investigation Practices by Consumer Reporting Agencies - On November 22, the DOL announced a final rule under the Employee Retirement Income Security Act (ERISA) to...more

ArentFox Schiff

First-of-a-Kind Crypto Insider Trading Prosecution: SEC-v-Wahi et al Action May Have Broad Implications Across the Digital Asset...

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As use of cryptocurrency investment has increased throughout the world, regulators have faced a bevy of novel questions, especially related to applying different strains of law to regulate novel digital assets. To date,...more

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