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Regulatory Agenda Investment Management Securities and Exchange Commission (SEC)

Mayer Brown Free Writings + Perspectives

SEC Abandons Review of Vacated Private Fund Adviser Rules

The Securities and Exchange Commission let pass the deadline to seek a review of the decision by the US Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) to vacate the SEC’s final rule relating to private fund...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - September 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

SEC Releases Spring 2024 Regulatory Agenda, Plans to Re-Propose Several Key Rules

Seward & Kissel LLP on

The Office of Information and Regulatory Affairs, a division of the Office of Management and Budget, released its Spring 2024 Unified Agenda of Regulatory and Deregulatory Actions, which includes short- and long-term...more

Manatt, Phelps & Phillips, LLP

SEC Moves Closer to Regulating the Use of AI by Broker-Dealers and Investment Advisers

The Securities and Exchange Commission (SEC) held an open meeting of its Investment Advisory Committee on June 6, 2024, which featured a panel to review the use of artificial intelligence in investment decision making....more

Proskauer - The Capital Commitment

Top Ten Regulatory and Litigation Risks for Private Funds in 2024

To understand the litigation and regulatory risks that are coming in 2024 for private capital, it is helpful to look back briefly on recent events. Arguably, the single most important event over the last 18 months was the...more

K&L Gates LLP

US Asset Management Regulatory Year in Review 2023

K&L Gates LLP on

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

Carlton Fields

Tailored Specifically: Recent SEC Regulatory Developments Relating To Advertising

Carlton Fields on

I. INTRODUCTION AND OVERVIEW - Gary Gensler’s tenure-to-date as Chairman of the Securities and Exchange Commission (“SEC”) is striking for its exceptionally active rulemaking agenda. Two rulemakings of tremendous import to...more

Carlton Fields

SEC Proposal Balances AI-Like Technology Use With Investor Best Interests: Has the Regulator Picked a Winner?

Carlton Fields on

Like other savvy businesses, investment advisers and broker-dealers have increasingly embraced the use of predictive data analytics, artificial intelligence, and similar technologies (AI-like technologies) to help generate...more

Akerman LLP

The SEC’s Newly Adopted Rules and Rule Amendments for Private Fund Advisers

Akerman LLP on

On August 23, 2023, the Securities and Exchange Commission (the SEC) adopted new rules and rule amendments (collectively, the “Rules”) under the Investment Advisers Act of 1940, as amended (the Advisers Act) to enhance the...more

Eversheds Sutherland (US) LLP

ESG in the United States: A complex landscape

The United States is in the process of transitioning ESG disclosure from voluntary, market-led reporting to a regulatory-driven scheme, principally led by the US Securities and Exchange Commission’s (SEC) anticipated (but...more

Goodwin

SEC Regulatory Agenda Showcases Important Rules by Fall 2023

Goodwin on

The federal Office of Information and Regulatory Affairs recently published the SEC’s Spring 2023 “Reg Flex” agenda. Chairman Gary Gensler sets the SEC’s agenda, which identifies rules that the agency expects to consider over...more

McDermott Will & Emery

International News: Spotlight on ESG, Impact & Sustainability

McDermott Will & Emery on

ESG is understood to be an acronym for “environmental, social and governance,” but the term can be challenging because it’s used to describe similar but distinct communities of practice, including corporate social...more

Mayer Brown Free Writings + Perspectives

Upcoming SEC Open Meeting

The Securities and Exchange Commission will host an open meeting on March 22, 2023 at 10 a.m, which will be open to the public via webcast on the SEC website.  The Division of Investment Management will present on Enhancing...more

Morgan Lewis

Current Developments in SEC Examinations & Enforcement: A Special Report for Private Funds 2022-2023

Morgan Lewis on

Private funds were a major focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect 2023 to be even more active. The Division of Examinations’...more

Perkins Coie

SEC Proposes Rules To Enhance Order Competition

Perkins Coie on

The U.S. Securities and Exchange Commission (SEC or the Commission) proposed amendments on December 14, 2022, to Regulation National Market System (NMS) that, if adopted, would significantly alter the way certain orders in...more

Goodwin

SEC Regulatory Agenda Showcases 52 Proposed and Final Rules by Spring 2023

Goodwin on

The SEC’s Fall 2022 “Reg Flex” agenda was recently published by the federal Office of Information and Regulatory Affairs (OIRA). Chair Gensler sets the agency’s agenda, which provides a glimpse into how the agency will...more

Sullivan & Worcester

SEC Proposes Changes to Liquidity Risk Management and Swing Pricing Rules

Sullivan & Worcester on

On November 2, 2022, the Securities and Exchange Commission (“SEC”) proposed  amendments to the current rules relating to liquidity risk management and swing pricing (the “Proposal”)....more

Mintz

SEC States That Considering Diversity When Recommending Investment Advisers Is Consistent With An Advisor's Fiduciary Duty

Mintz on

Earlier this month, the SEC issued an FAQ concerning "an adviser's fiduciary duty when considering factors relating to diversity, equity, and inclusion (DEI) in the selection or recommendation of other investment advisers."...more

J.S. Held

Crosscurrents: J.S. Held’s Environmental, Social & Governance Observations (Fiduciary Duties Become Political)

J.S. Held on

The Attorneys General for both Indiana and Louisiana have issued opinions that environmental, social, and governance (ESG) criteria violate the fiduciary duty owed to corporate investors absent full disclosure of the use of...more

Dechert LLP

SEC Issues Proposed Rule Amendments Regarding Fund Naming Conventions

Dechert LLP on

Overview - The U.S. Securities and Exchange Commission, by a vote of three-to-one, proposed for public comment on May 25, 2022, amendments to the rule governing naming conventions of funds1 subject to the U.S. Investment...more

Proskauer Rose LLP

Regulation of Custodial Practices Under the Investment Advisers Act of 1940 Rule 206(4)-2: June 2022

Proskauer Rose LLP on

Background - A. Adoption in 1962 - The SEC has regulated custodial practices of investment advisers since 1962, when it first adopted rule 206(4)-2 (the “Custody Rule”) under the Investment Advisers Act of 1940...more

Mayer Brown Free Writings + Perspectives

US SEC Proposes Rules Regarding ESG for Certain Funds and Advisers

At an open meeting on May 25, 2022, the US Securities and Exchange Commission (“SEC” or “Commission”) approved two new proposals that will impact the fund and investment management industry. One of the proposals is directed...more

Proskauer - The Capital Commitment

Conflicts of Interest: How High Will the Bar be Raised?

The SEC last month proposed rules under the Advisers Act indicating a dramatic shift in how the SEC intends to reduce conflicts of interest involving private fund managers and their investors. As we previously noted in the...more

Proskauer - Corporate Defense and Disputes

Major SPAC News, Rules May Be Coming This Week

On Thursday, March 24th, the Securities and Exchange Commission announced an agenda for a March 30th open meeting for the Divisions on Corporate Finance and Investment Management. The meeting has only one agenda item: SPACs,...more

Proskauer Rose LLP

SEC Proposes Monthly Short Sale Reporting Requirements: Aggregated Information to be Public; New Order Marking Requirements...

Proskauer Rose LLP on

The SEC recently proposed to require investment managers to report short sale information on a monthly basis if such activity exceeds certain thresholds, and to require broker dealers to begin to mark “buy to cover” trades...more

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