Category: Legal and Regulatory Updates
The SEC has settled charges with a New York-based private equity fund adviser for failing to fully disclose its practice of charging portfolio companies for the cost of certain in-house services and the associated conflicts of interest such that it could obtain informed consent.
April 27, 2020
Tags: Conflicts of Interest, Fees and Expenses, Private Equity, SEC Enforcement
Adviser Fined $1 Million for Misleading Private Fund Marketing Materials, Performance Information
A Massachusetts-based investment adviser is paying $1 million to settle SEC charges of providing misleading marketing materials related to a private fund and failing to follow its compliance policies and procedures.
April 27, 2020
Tags: Advertising, Advertising Rule, Private Funds, SEC Enforcement
NFA Permits Gross Performance in Advertisements by CTAs Also Registered as SEC Advisers
The NFA Board has amended NFA Compliance Rule 2-29: Communications with the Public and Promotional Material and issued related interpretive guidance.
April 27, 2020
New York Proposes to Register Investment Adviser Representatives, Solicitors
The New York Investor Protection Bureau of the Department of Law is proposing to require any investment adviser representative in New York to register with the state through the Investment Adviser Registration Depository.
April 27, 2020
Two New Associate Directors in SEC Chicago Regional Office’s Examination Program
Louis Gracia and Vanessa Horton have been named Associate Directors of the Investment Adviser/Investment Company (IA/IC) examination program in the SEC’s Chicago Regional Office.
April 27, 2020
Tags: SEC Appointments
Bureau of Economic Analysis Collecting Data on Foreign Direct Investments
The U.S. Department of Commerce’s Bureau of Economic Analysis is collecting information in its BE-10 benchmark survey of U.S. direct investment abroad for fiscal years ending in 2019.
April 27, 2020
Assistant Secretary Rutledge to Leave DOL
Jeanne Klinefelter Wilson, Principal Deputy Assistant Secretary, will serve as Acting Assistant Secretary upon Rutledge’s departure.
April 27, 2020
Tags: DOL
SEC Closes Out SCSD Initiative with Three Final Settlements
The SEC has announced settled charges against three more investment advisers that self-reported in its Share Class Selection Disclosure (SCSD) initiative.
April 18, 2020
As part of its regulatory response to COVID-19, the SEC has issued exemptive relief to enable business development companies to make additional investments in small and medium-sized businesses.
April 17, 2020
New SEC Staff Resource for COVID-19 FAQs
The SEC’s Division of Investment Management has created a new web page that consolidate information related to the COVID-19 pandemic.
April 17, 2020
Tags: Coronavirus, COVID-19
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