Adviser Fined in Connection with Disclosure of Share Classes Used by Model Provider
The SEC has settled charges against a Nebraska-based dual-registrant in connection with share class selection disclosures.
December 21, 2020
UK-based Adviser Pays $170 Million in Connection with Transfer of Traders to Proprietary Fund
The SEC has fined a UK-based investment adviser in connection with the firm’s transfer of almost half of the traders assigned to a private fund sold to external clients to a proprietary fund with a similar trading strategy that was created to attract and retain traders and senior managers.
December 21, 2020
Tags: Disclosure, Private Funds, SEC Enforcement
SEC’s Investor Advisory Committee Adds New Members
The SEC’s Investor Advisory Committee recently met to discuss corporate disclosure during COVID-19 and the implications of the pandemic for the upcoming proxy season and announced new officers.
December 21, 2020
Tags: Coronavirus, COVID-19, IAC, Proxy Voting
Regulators Issue Joint Statement on AML Obligations Related to Digital Assets
Leaders of the CFTC, FinCEN, and the SEC issued a joint statement reminding “financial institutions” of their anti-money laundering and countering the financing of terrorism (AML/CFT) obligations.
December 17, 2020
Tags: AML, Digital Assets
OCIE Risk Alert Reminds Advisers of Large Trader Obligations
The SEC’s examination staff has shared observations to assist investment advisers and broker-dealers in complying with the Large Trader Rule (Rule 13h-1 under the Exchange Act).
December 17, 2020
Tags: OCIE, Risk Alert, Trading
The State of New York has adopted rules to require the registration of Investment Adviser Representatives (IARs) in New York.
December 15, 2020
In a move that elevates FinTech as a priority within the SEC, the agency has announced the formation of a separate stand-alone office for innovation and financial technology.
December 15, 2020
Tags: FinTech
The SEC’s Division of Investment Management announced a new web intake form for no-action and interpretive letter requests and related procedures.
December 15, 2020
SEC Names Director of Atlanta Regional Office
The SEC has named Nekia Hackworth Jones as Director of its Atlanta Regional Office.
December 15, 2020
Tags: SEC Appointments
SEC Adopts Fair Value Rule for Registered Funds
The SEC has adopted new Rule 2a-5 under the Investment Company Act on December 3, which governs the valuation practices for registered investment companies and business development companies.
December 10, 2020
Tags: Fair Value, Mutual Funds