Category: Legal and Regulatory Updates
SEC Fines Adviser for Undisclosed Third-Party Loans to its IARs
The SEC brought an enforcement action against an Arizona-based investment adviser for failing to disclose to clients the existence of and conflicts of interest created by loans its IARs received from a third-party broker-dealer, an investment adviser affiliated with the broker-dealer, and their parent company.
June 15, 2021
SEC Chair Names New Corp Fin Director, General Counsel
Boston College Law Professor Renee Jones will join the SEC as Chair Gary Gensler’s pick to lead the Division of Corporation Finance.
June 15, 2021
Tags: John Coates, Renee Jones, SEC Appointments, SEC Corporation Finance
New York City Bar Recommends SEC Framework for CCO Liability
The New York City Bar Association Compliance Committee recently issued a detailed Framework for Chief Compliance Officer Liability in the Financial Sector.
June 15, 2021
Tags: CCO, Compliance, Enforcement
CFTC Staff Issues Updated Form CPO-PQR FAQs to Reflect Revised Form
The CFTC Market Participants Division has published 20 new frequently asked questions related to Form CPO-PQR and CFTC Rule 4.27, both of which were revised in October 2020.
June 15, 2021
SEC’s Gensler Questions Executive Stock Ownership Plans
SEC Chair Gary Gensler told a Chief Financial Officers forum that he’s asked SEC staff to come up with recommendations to “freshen up” the 20-year-old rule that allows corporate insiders to buy and sell company stock under formal “Rule 10b5-1 plans.”
June 09, 2021
Tags: Caroline Crenshaw, Gary Gensler, IAC, Insider Trading, MNPI
Biden Expands Prohibitions on Investments in China to Include Chinese Surveillance Technology Firms
President Biden has amended an executive order issued under the Trump administration that imposed limits on U.S. persons investing in Chinese military companies.
June 09, 2021
Tags: OFAC, Treasury Department
CFA Institute Seeks Comment on Exposure Draft on Disclosure Standards for ESG Investment Products
The CFA Institute is seeking comment on an exposure draft that outlines its proposed ESG Disclosure Standards for Investment Products (Standards).
June 02, 2021
Tags: Disclosure, ESG
OFAC has issued new guidance in connection with the prohibitions on transactions in securities of Communist Chinese Military Companies.
June 02, 2021
Tags: OFAC, Treasury Department
OFAC Removes Limits on Financial Transactions with Sudan
OFAC has updated its regulations to remove limits on financial transactions with the Government of Sudan and Sudanese nationals.
May 26, 2021
Tags: AML, OFAC, Treasury Department
SEC Investment Management Highlights Focus Areas in Statement on Funds Investing in Bitcoin Futures
The SEC’s Division of Investment Management (IM) staff has issued a statement regarding registered funds investing in the Bitcoin futures market.
May 19, 2021
Tags: Bitcoin, SEC Investment Management
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