Legal and Regulatory Updates Archives

SEC Offering Amnesty to Firms Impacted by SolarWinds Cyberattack – If They Cooperate

The SEC’s Enforcement staff is conducting an investigation related to the widely publicized December 2020 SolarWinds cyberattack. As part of this investigation, beginning on June 17, the staff sent letters to regulated entities it believed may have been victims of the cyberattack, including public and private companies, investment advisers, broker-dealers, transfer agents, clearing agencies, and exchanges.

July 19, 2021

Tags: Cybersecurity, Enforcement

Adviser to Pay $97 Million in Connection with Rollover Conflicts

A New York-based firm dually registered as an investment adviser and broker-dealer has agreed to pay $97 million to settle charges by the SEC and the New York Attorney General’s office (NYAG) that it made inaccurate and misleading statements and failed adequately to disclose conflicts of interest in connection with thousands of rollover recommendations.

July 13, 2021

Tags: Compliance Policies, Conflicts of Interest, Disclosure, SEC Enforcement

SEC’s AMAC Tackles Diversity and ESG, Explores Retail Access to Private Investments, Advisers’ Use of Technology

In a lengthy open meeting on July 7, the SEC’s Asset Management Advisory Committee adopted subcommittee recommendations on diversity and inclusion (DEI) and ESG, considered an interim report from the Subcommittee on Private Investments, and heard presentations on technology-enabled personalization in the provision of investment advice.

July 12, 2021

Tags: AMAC, Diversity & Inclusion, ESG, Private Offerings, Technology

UK FCA, IOSCO Issue Consultations on ESG, Focus on Asset Management and Products

The UK Financial Conduct Authority (FCA) has issued a consultation paper on climate-related disclosures for asset managers and investment products. The proposal would require asset managers to provide annual entity-level disclosures consistent with recommendations of the Financial Stability Board’s Task Force on Climate-Related Financial Disclosures (TCFD).

July 11, 2021

Tags: ESG, International

SEC Charges Adviser and its CCO with Cherry-Picking

The SEC has filed a complaint in federal district court charging an Illinois-based investment adviser and its CCO, who is also its COO and co-owner, with defrauding the firm’s clients through a multi-year cherry-picking scheme.

July 08, 2021

Tags: Allocation, SEC Enforcement

SEC Charges Trader with Front Running Employer’s Client Accounts

The SEC has filed a complaint in New York federal district court charging a trader at a Canada-based asset management and hedge fund adviser with engaging in a fraudulent front-running scheme involving several retail client accounts.

July 07, 2021

Tags: SEC Enforcement, Trading

SEC Fines Adviser $1.75 Million for Failure to Protect Client Assets

The SEC has settled charges against a Nebraska-based SEC-registered adviser for failing to implement policies and procedures reasonably designed to prevent the misappropriation of funds from client accounts

July 07, 2021

Tags: AML, SEC Enforcement

SEC’s Gensler Discusses ESG Disclosures, Market Structure, Transparency

SEC Chair Gary Gensler discussed several of the SEC’s regulatory initiatives in a recent speech, focusing on climate- and ESG-related disclosures, market structure, and transparency.

June 29, 2021

Tags: Elad Roisman, ESG, Gary Gensler, Regulatory Agendas

« Previous 1 … 5 6 7 8 9 … 34 Next »

You are now leaving Investment Adviser Association

The IAA provides links to web sites of other organizations in order to provide visitors with certain information. A link does not constitute an endorsement of content, viewpoint, policies, products or services of that web site. Once you link to another web site not maintained by the IAA, you are subject to the terms and conditions of that web site, including but not limited to its privacy policy.

You will be redirected to

Click the link above to continue or CANCEL

IAA Today

You are now leaving Investment Adviser Association