News & Analysis as of

Financial Services Industry Investment Adviser

Allen Matkins

What Is A Franchise?

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If you ask for a definition of "franchise" in California law, there are at least three answers.  Two are statutory and one is judicial.  Corporations Code Section 31005 defines "franchise" for purposes of California's...more

K&L Gates LLP

QPAM Amendments Impact on CITs: What Banks and Their Advisers Need to Know

K&L Gates LLP on

Effective 17 June 2024, the US Department of Labor (DOL) adopted comprehensive amendments to Prohibited Transaction Exemption (PTE) 84-14, also known as the “QPAM exemption” (Exemption)....more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - December 2024

Key Points - - During its 2024 term, the U.S. Supreme Court is poised to provide important guidance on the Private Securities Litigation Reform Act’s (PSLRA’s) particularity requirement in NVIDIA Corp. v. E. Ohman J:or...more

Barnea Jaffa Lande & Co.

Call For Public Comment: A Report on AI Use in the Financial Sector

Barnea Jaffa Lande & Co. on

This month, an interim report on artificial intelligence in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities...more

Conyers

ケイマン諸島籍クローズドエンドファンドに関する規制に要注意

Conyers on

ケイマン諸島は世界有数のオフショアファンド法域です。2023年時点でのケイマン諸島における登録ファンド数は約29,500で、ケイマン諸島籍ファンドは、全世界の米国籍以外のファンド全体の68%を占めています。...more

Conyers

Attention! Know The Regulatory Obligations Of Your Cayman Closed-Ended Fund

Conyers on

The Cayman Islands is a pre-eminent offshore funds jurisdiction. In fact, with around 29,500 registered funds in 2023, Cayman accounts for 68% of funds set up outside of the United States....more

Royer Cooper Cohen Braunfeld LLC

SEC’s 2025 Examination Priorities

On November 21, 2024, the Securities and Exchange Commission (SEC) released its examination priorities for 2025. The release offers critical insights into the areas that the SEC will focus on....more

Proskauer - Regulatory & Compliance

Mansion House Speech 2024 – Growth and Competitiveness

Background On 14 November 2024, the United Kingdom’s Chancellor of the Exchequer delivered a speech setting out the UK Government’s vision to grow and enhance the competitiveness of the financial services sector (the...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - November 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Seward & Kissel LLP

Financial Services Firm Affiliates Settle Five SEC Enforcement Actions for Allegedly Misleading Customers and Failing to Act in...

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies; Registered Investment Advisers; Broker Dealers; Compliance Officers; Boards of Directors - Quick Take: The SEC recently settled five separate enforcement proceedings...more

Katten Muchin Rosenman LLP

SEC Division of Examinations Publishes 2025 Priorities

On October 21, the Securities and Exchange Commission's (SEC) Division of Examinations (Division) published its examination priorities for its fiscal year 2025 (Oct. 1, 2024–Sept. 30, 2025). First published in 2013, the SEC's...more

Katten Muchin Rosenman LLP

Key LP Investments Trends in 2024 and Beyond

C.S. Lewis once wrote, "Onwards and upwards! To Narnia and the North," and this seems to have been echoed by the private equity market in 2024 thus far. Except this time, it appears the destination is not Narnia but rather...more

Carlton Fields

FINRA and SEC Float Concerns Over Social Media Finfluencers

Carlton Fields on

Social media marketing is an important form of advertising in our digital world, particularly with a target audience of younger investors. This has caught the eye of FINRA and the SEC....more

Holland & Knight LLP

FDIC Proposes Significant Revisions to Brokered Deposit Regulations

Holland & Knight LLP on

The Federal Deposit Insurance Corporation (FDIC) announced a proposed rule that would revise brokered deposit regulations promulgated under Section 29 of the Federal Deposit Insurance Act....more

Carlton Fields

SEC Penalties for Off-Channel Communications: Still Blowing in the Wind

Carlton Fields on

The SEC has increased its enforcement efforts against firms that are registered as broker-dealers and/or investment advisers for alleged violations of federal securities laws involving “off-channel communications.” Such...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Pacing Growth and Maintaining Discipline with Wellington Management’s Shanna O’Reilly

Welcome to Season 4 of Private Market Talks! In our newest episode, we are joined by Shanna O’Reilly, co-head of Private Investments at Wellington Management, one of the world’s largest investment managers. Shanna helped...more

DLA Piper

IMpact: Investment Management News – September 2024

DLA Piper on

Welcome to IMpact: Investment Management News. In this regular bulletin, DLA Piper lawyers share their insights on key developments that are impacting the investment management industry....more

DLA Piper

Blockchain and Digital Assets News and Trends - September 2024

DLA Piper on

This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

Jones Day

Investment Advisers Subject to AML and SARs Requirements

Jones Day on

The Situation: The Financial Crimes Enforcement Network ("FinCEN") has adopted a rule that subjects certain investment advisers to anti-money laundering/countering the financing of terrorism program ("AML") requirements...more

Skadden, Arps, Slate, Meagher & Flom LLP

How and When SEC Recordkeeping Rules May Apply to AI-Generated Content

AI has revolutionized the way many businesses operate. Firms in the financial sector are eager to take advantage of rapidly developing technologies but do not want to risk running afoul of relevant Securities and Exchange...more

Ballard Spahr LLP

FinCEN Finalizes Rule Subjecting Investment Advisers to AML/CFT Regulations

Ballard Spahr LLP on

Following up on its Notice of Proposed Rulemaking (“NPR”), which we discussed back in March, the Financial Crimes Enforcement Network (FinCEN) released on August 28th a final rule extending Anti-Money Laundering/Countering...more

Wilson Sonsini Goodrich & Rosati

Fintech in Brief: Recent SEC Enforcement Activity on the Custody Rule: Clues for the Focus of Anticipated Rules on Safekeeping...

The U.S. Securities and Exchange Commission (SEC) has announced two settled charges involving alleged violations of Rule 206(4)-2 under the Investment Advisers Act of 1940 (Advisers Act), known as the “Custody Rule.” These...more

Troutman Pepper Locke

SEC Charges Broker-Dealer and Two Affiliated Investment Advisers With Violating Whistleblower Protection Rule

Troutman Pepper Locke on

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

Alston & Bird

Investment Advisers Face New AML/CFT Compliance Obligations from FinCEN

Alston & Bird on

Our Financial Services, Investment Funds, and White Collar, Government & Internal Investigations Teams break down the latest Financial Crimes Enforcement Network (FinCEN) rule investment advisers must prepare for....more

Katten Muchin Rosenman LLP

Judge Dismisses Case Against Seeking Alpha: Implications for Publishers of Financial Information

In a recent decision, the US District Court for the Southern District of New York dismissed a proposed class action against Seeking Alpha, Inc., ruling that the financial content platform falls within the "publisher's...more

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