Category: IAA Today
SEC Charges Quantitative Analyst in Front-Running Scheme
The SEC has charged a quantitative analyst in a front-running scheme the SEC claims resulted in over $8.5 million in trading profits.
October 06, 2021
Tags: Code of Ethics, Insider Trading, MNPI, SEC Enforcement
The SEC is suing a Missouri adviser for allegedly investing client assets in expensive mutual fund share classes to avoid paying transaction fees.
October 06, 2021
Tags: Conflicts of Interest, SEC Enforcement, Share Class Disclosure, Wrap Fees
SEC Considers Potential Rulemaking on Complex Exchange-Traded Products
SEC staff is reviewing the potential risks of complex exchange-traded products and will present rulemaking proposals to address those risks.
October 06, 2021
Tags: Allison Herren Lee, Caroline Crenshaw, ETFs, Gary Gensler
Adviser, Principals Fined for Charging Clients Fees Without Providing Advice
A Michigan-based investment adviser and two of its principals are paying more than $900,000 to settle SEC charges related to a breach of their fiduciary duties and failing to disclose conflicts of interest.
October 05, 2021
Tags: Conflicts of Interest, Disclosure, Fees and Expenses, Fiduciary, SEC Enforcement
SEC Proposes Reporting Say-on-Pay Votes, Updates to Fund Proxy Reporting
In a 4-1 vote at Chair Gary Gensler’s first open meeting, the SEC proposed requiring institutional investment managers that are required to file Form 13F to report “say-on-pay” votes, which are non-binding shareholder votes related to corporate executive compensation.
October 05, 2021
Tags: Elad Roisman, ESG, Gary Gensler, Hester Peirce, Mutual Funds, Proxy, SEC Investment Management
SEC Chair Gensler Takes Aim at Potential Alternative Rate to LIBOR
SEC Chair Gary Gensler singled out his preference for the Secured Overnight Financing Rate (SOFR) as the alternative reference rate to LIBOR.
October 05, 2021
Tags: Gary Gensler, Libor
The CFA Institute has published an exposure draft outlining proposed verification procedures for its ESG Disclosure Standards for Investment Products and requests comments from stakeholders.
September 22, 2021
Tags: Disclosure, ESG
SEC Sues Adviser for Violation of Principal Trading Rules
The SEC has settled an enforcement action with a dually-registered investment adviser and broker-dealer for effecting over 200 fixed-income transactions on a riskless principal basis with advisory clients, without disclosing to the clients in writing before the completion of each transaction the capacity in which it was acting and obtaining transaction-by-transaction client consent.
September 22, 2021
Tags: Compliance Policies, Trading
Dealing with the New Derivatives Rule: A Guide for Legal and Compliance Professionals
This Compliance Corner article provides an overview of the requirements of Rule 18f-4 and practical considerations related to the design of compliance programs under that rule.
September 09, 2021
Tags: Columns, Compliance Corner, Derivatives
Dealing with the New Derivatives Rle:A Gide for Legal and Compliance Professionals By Stephen A. Keen and Andrew P. Cross, Perkins Coie LLP In October 2020, the .S. Secrities and...
September 09, 2021
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