National Society of Compliance Professionals Releases CCO Liability Framework
The framework looks to clarify the role of CCOs when determining their personal responsibility for a firm’s potential compliance failures
January 18, 2022
SEC Enforcement Case Calls into Question Hedge Clauses in Retail Advisory Contracts
This case has potentially significant ramifications for advisers to retail clients who have hedge clauses in advisory contracts.
January 14, 2022
Tags: Hedge Clauses, SEC Enforcement
IAA Supports Australian Licensing Exemptions for FFSPs
The IAA commends the Australian Government for proposing to restore previously well-established regulatory relief provided for FFSPs that are licensed and regulated in jurisdictions with comparable financial service rules and obligations.
January 14, 2022
Tags: International
IAA Supports SEC Proxy Advice Proposal, Requests Rescission of Guidance for IAs
The IAA recently submitted a comment letter in response to the SEC’s proposed amendments to its regulations regarding proxy voting advice provided by proxy advisory firms.
January 05, 2022
Tags: Proxy Voting, SEC
DOL Pulls Back on 2020 Statement on Use of Private Equity in Defined Contribution Plans
The DOL’s Employee Benefits Security Administration has issued a Supplemental Statement on the use of private equity investments in defined contribution plans that significantly limits a June 2020 Information Letter.
January 04, 2022
Tags: DOL, Private Equity
Private Fund Managers – 2021 SEC Enforcement Results and What to Expect Next
In 2021, the SEC has been in transition. In 2022, the SEC will likely focus more on private fund managers. The last few month have given us an idea of what to expect.
December 22, 2021
Tags: Private Funds, SEC Enforcement
IAA Supports the DOL ESG and Proxy Proposal with Recommended Changes
The IAA has commented on the DOL’s proposed amendments to its ERISA investment duties regulation regarding ESG and proxy voting. We support the proposed amendments, with a number of recommendations that we believe would improve on the proposal.
December 21, 2021
Tags: DOL, ESG, Proxy Voting
IAA Files Comment Letter on Proposal to Report Say-on-Pay Proxy Votes
The IAA has commented on the SEC’s re-proposal of a rule and form amendments to facilitate the disclosure of say-on-pay (executive compensation) proxy votes by institutional investment managers that are subject to Section 13(f) of the Exchange Act.
December 21, 2021
SEC Proposes Money Market Funds Reforms – Again
In a 3-2 vote, the SEC has proposed significant amendments to the rules governing money market funds, seeking to improve funds' resiliency after a redemption rush at the beginning of the COVID-19 pandemic that stressed short-term funding markets.
December 21, 2021
Tags: Money Market Funds, COVID-19, Mutual Funds
SEC Staff Issues Statement as LIBOR Transition Looms
SEC staff is reminding market participants of their obligations when recommending LIBOR-linked securities and reminding issuers of asset-backed securities of their disclosure obligations related to the LIBOR transition.
December 21, 2021
Tags: Libor