SEC Announces 2020 National Compliance Outreach Seminar on April 21
In-person attendance will be limited to 500 people. The event also will be made available via live and archived audio webcast .
March 11, 2020
Tags: Compliance
SEC Names New Head of Philadelphia Regional Office
The SEC announced that Kelly L. Gibson has been named director of the SEC’s Philadelphia Regional Office.
March 11, 2020
Tags: SEC
In response to the coronavirus, the SEC’s Division of Investment Management extended no-action relief that it provided in February 2019 from certain in-person voting requirements for fund directors.
March 04, 2020
SEC Finds Breaches of Fiduciary Duty and Duty of Best Execution in Connection with Mutual Fund Share
A Pennsylvania-based dual registrant agreed to pay disgorgement, prejudgment interest, and a civil penalty totaling $927,107.
February 27, 2020
Tags: Conflicts of Interest, SEC Enforcement, Share Class Disclosure
The SEC and the CFTC have settled charges against an investment adviser of a mutual fund that is also registered as a commodity pool operator for materially misleading investors about risk management procedures and failing to manage the fund’s risks consistent with the fund’s prospectus and other representations.
February 27, 2020
Tags: CFTC, CPO, SEC Enforcement
CFTC Proposes New Rules on Position Limits for Derivatives (Again)
After several false starts and the reversal by a federal court of an early rulemaking attempt, the CFTC has reproposed long-awaited amendments to its regulations on speculative position limits in commodity derivatives markets.
February 27, 2020
Tags: CFTC, Derivatives
SEC Charges Adviser for Failing to Disclose Financial Conflicts of Interest
The SEC has filed a complaint against a California-based investment adviser and its former co-owners for failing to disclose side compensation arrangements when recommending investments to clients.
February 27, 2020
Tags: Conflicts of Interest, Disclosure, Private Funds, SEC Enforcement
LIBOR Update– ARRC Creates Transition Checklist for Asset Managers, Owners
The Federal Reserve Board’s Alternative Reference Rates Committee (ARRC) has created a checklist to assist asset managers and asset owners with issues raised by the transition from LIBOR to the ARRC’s recommended alternative, the Secured Overnight Financing Rate (SOFR).
February 20, 2020
Tags: Federal Reserve Board, House Financial Services, Libor
NASAA Requests Comment on Proposed IAR CE Requirement
The North American Securities Administrators Association has requested comment on a proposed continuing education requirement for investment adviser representatives.
February 20, 2020
Tags: Continuing Education, NASAA
SEC Investor Advisory Committee: Revise, Republish Proxy Proposals
The SEC’s Investor Advisory Committee (IAC) responded strongly to the SEC’s proposals regarding proxy voting advice and shareholder proposals.
February 10, 2020
Tags: Proxy, Proxy Advisory Firms