Category: Legal and Regulatory Updates
SEC Enforcement Case Calls into Question Hedge Clauses in Retail Advisory Contracts
This case has potentially significant ramifications for advisers to retail clients who have hedge clauses in advisory contracts.
January 14, 2022
Tags: Hedge Clauses, SEC Enforcement
Adviser, Principal Fined for Misrepresentations and Compliance Issues
The enforcement case found hedge fund misrepresentation, principal trading without consent, and lack of policies and procedures.
January 04, 2022
Tags: Hedge Funds, SEC Enforcement
SEC Staff Releases Additional Form CRS Observations
Following a new review, SEC staff has released additional observations regarding the content, format, and web posting of Form CRS disclosures.
December 21, 2021
Tags: Discl, Disclosure, Fiduciary, Form CRS
IAA Responds to SEC’s Form 13F Proposal
The IAA has commented on re-proposed amendments to Form 13F to require additional identifying information and certain technical amendments.
December 21, 2021
Commissioner Roisman Departing the SEC
Democrats will have a 3-1 majority on the SEC once Commissioner Elad Roisman's resignation takes effect at the end of January 2022.
December 21, 2021
Tags: Elad Roisman, SEC Appointments
William Birdthistle Appointed SEC Investment Management Director
Chicago-Kent College of Law Professor William Birdthistle has been named Director of the SEC’s Division of Investment Management.
December 21, 2021
NY Electronic Recordkeeping Enforcement Action Sparks Wider SEC Probe
A NY-based firm pays $125 million to settle charges related to failures to maintain and preserve written communications found on personal devices.
December 21, 2021
Tags: Books & Records, SEC Enforcement
SEC Fines PE Fund Adviser $4.5 Million in Connection with Fee Calculations
The SEC has fined an adviser to private equity funds $4.5 million for not offsetting management fees as discussed in fund disclosures.
December 21, 2021
Tags: Disclosure, Fees and Expenses, Private Equity, SEC Enforcement
Adviser, Principal Fined for Fund Management, Proxy, Valuation Issues
The SEC has fined a New Jersey-based registered investment adviser and its principal in connection with the adviser’s management of a mutual fund.
December 10, 2021
Tags: Compliance, Mutual Funds, SEC Enforcement, Valuation
New Industry Report on T+1 Settlement Cycle, SEC Rule Proposal Expected
A new industry study targets the first half of 2024 to go live with the transition to a T+1 trade settlement cycle.
December 10, 2021
Tags: Trading
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