Category: Legal and Regulatory Updates
IRS Updates Life Expectancy Tables Used to Determine Required Minimum Distributions
The IRS has adopted updates to life expectancy tables used to calculate required minimum distributions from retirement plans, IRAs, and annuities.
November 17, 2020
Tags: ERISA, IRAs, IRS, Retirement Plans, SECURE Act, Taxes, Treasury Department
SEC IM Director Dalia Blass Reflects on Division’s Work
In a recent speech, the SEC’s Division of Investment Management Director Dalia Blass reflected on the Division’s hard work and accomplishments throughout the year.
November 17, 2020
Tags: Coronavirus, COVID-19, Custody, Dalia Blass, Proxy Voting, Registered Funds, SEC Investment Management
SEC Examination Office Issues Risk Alert on Multiple Branch Offices
OCIE has issued a Risk Alert regarding staff observations from examinations of investment advisers operating from multiple branch offices.
November 12, 2020
Tags: Advertising Rule, Branch Office Supervision, Code of Ethics, Custody
New SEC Action Will Make it Easier for Issuers to Conduct Private Offerings
In a 3-2 vote, the SEC has significantly amended its exempt offering rules to promote capital formation and expand investment opportunities while preserving or improving important investor protections.
November 11, 2020
Tags: Private Funds, Private Offerings
The SEC’s Asset Management Advisory Committee has made preliminary recommendations to address COVID-19-related operational issues, including electronic delivery, remote work, e-authorization, and dematerialization.
November 10, 2020
Tags: AMAC, Compliance, Coronavirus, COVID-19, E-Delivery, Electronic Delivery
CFTC Announces Organizational Changes to Boost Operational Effectiveness
The Commodity Futures Trading Commission has announced a new reorganization plan that includes the creation of four new operating divisions.
November 05, 2020
Tags: CFTC
CFTC Chairman Issues Directive on Staff Letters and Guidance
CFTC Chairman Heath Tarbert has publicly issued a directive to the staff on the use of staff letters and guidance.
November 05, 2020
Tags: CFTC, Heath Tarbert
Virginia Adviser Pays Over $1 Million for Failing to Reduce Fees as a Result of Write Downs
The SEC has fined a private equity fund adviser concerning management fees that it charged to a fund under its management.
October 29, 2020
Tags: Fees and Expenses, Private Equity, Private Funds, SEC Enforcement
SEC Proposes Exemptions from B-D Registration for Certain “Finders” of Issuers of Private Offerings
The SEC recently voted 3-2 to propose a new exemption from broker-dealer registration for two types of “finders” acting as agents of private issuers to “find” accredited investors.
October 26, 2020
Tags: Reg D, Private Offerings, Solicitation Rule
CFTC Chair Warns of Risks, Presses for Transition Away From LIBOR
CFTC Chairman Heath Tarbert is calling on the private sector to do its part to embrace the ISDA supplement and fallback protocol as the markets transition away from LIBOR.
October 20, 2020
Tags: CFTC, Heath Tarbert, Libor
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