The rules generally prohibit allocations to broker-dealers, investment advisers, and others that own or control, directly or indirectly, more than 10 percent of a broker-dealer.
November 25, 2019
CFTC Adopts Select Amendments to CPO and CTA Registration and Reporting Rules
The CFTC adopted rules on November 25 that codify certain no-action relief and amend registration and compliance requirements for commodity pool operators and commodity trading advisors.
November 25, 2019
Tags: CFTC, CPO, CTA, Dan M. Berkovitz, Family Office, Heath Tarbert, Rostin Behnam
SEC Co-Director of Enforcement Outlines Additional Areas of Undisclosed Conflicts
In a recent speech, Stephanie Avakian, Co-Director of the SEC’s Division of Enforcement, discussed the Division’s focus on identifying material conflicts of interest that are harmful to investors.
November 25, 2019
Updates from the IRS, and IAA comments on the DOL Electronic Disclosures Proposal.
November 25, 2019
Tags: IRS, Retirement
In a case that will have ramifications for investment advisers, the SEC charged a large broker-dealer with fraudulent misrepresentations relating to its mutual fund share class selection process.
November 25, 2019
The SEC is seeking a permanent injunction prohibiting future violations of the Advisers Act, disgorgement, and a civil penalty.
November 25, 2019
Tags: Dual Registrant, Massachusetts, SEC Enforcement, Share Class Disclosure
SEC Grants No-Action Relief for NY Trust Company to Use Blockchain to Settle Equity Trades
The two-year relief permits the company to use this technology to settle certain equity securities trades subject to strict limitations intended to protect market participants.
November 25, 2019
Tags: No-Action Letter, New York
SEC Extends MiFID II Research Unbundling No-Action Relief from 2020 to 2023
The IAA is working on a letter to the SEC on the impact of the no-action letter, especially on advisers that are not themselves subject to MiFID II.
November 25, 2019
Tags: No-Action Letter, MiFID II
SEC Names New Associate Director in OCIE’s Investment Adviser/Investment Company Examination Program
Natasha Vij Greiner has been named to a newly-created position in OCIE of Associate Director in OCIE’s investment adviser and investment company examination program.
November 25, 2019
Tags: OCIE
SEC Fines Adviser for Failing to Comply with Trade Aggregation Policies
The SEC censured and fined a Chicago-based investment adviser $50,000 for failing to comply with its written trade aggregation policies and procedures.
November 25, 2019
Tags: SEC Enforcement, Trading