SEC Modernizes Advertising and Solicitation Rules
In a victory for long-term IAA advocacy, the SEC has voted unanimously to adopt significant amendments to the marketing rules for investment advisers.
December 23, 2020
The DOL has adopted a prohibited transaction class exemption to allow investment advice fiduciaries to receive compensation for providing fiduciary investment advice and to engage in certain principal transactions.
December 21, 2020
Tags: DOL, ERISA, Fiduciary, IRAs, Retirement Plans
The DOL has adopted amendments to the ERISA proxy voting rule, once again expressing significant skepticism about ESG investing.
December 16, 2020
Tags: DOL, ESG, Proxy, Shareholder Proposals
SEC to Vote on Advertising/Solicitation Rule Amendments
The SEC has scheduled an Open Meeting to consider, among other things, amendments to the rules governing investment adviser marketing practices.
December 10, 2020
Tags: Advertising Rule
Agencies Announce More Leadership Changes
Heath Tarbert and Stehpanie Avakian will depart the CFTC and SEC, respectively.
December 10, 2020
Tags: CFTC, Heath Tarbert, Jay Clayton, SEC Appointments, Stephanie Avakian
Preparing to Leave the SEC, Clayton Reviews Accomplishments, Identifies Areas for Further Review
Jay Clayton returned to the venue of his first speech as Chairman to review the SEC’s accomplishments over the last “three-plus years.”
November 24, 2020
Tags: Accredited Investor, Form CRS, Jay Clayton
SEC Examination Staff Issues Risk Alert on Adviser Compliance Programs
OCIE has issued a Risk Alert providing an overview of notable compliance issues identified in a sample of deficiency letters from recent adviser exams.
November 19, 2020
Tags: Compliance Policies, Examinations
SEC Amends Rules to Facilitate Electronic Submission of Filings
The SEC has taken two further actions acknowledging the widespread use of electronic signatures and related technological developments, as well as the continuing need to support remote workforces.
November 18, 2020
Tags: Coronavirus, COVID-19, E-Signature
The SEC has adopted an “updated and more comprehensive” rule to govern the use of derivatives by registered funds and has declined to adopt a new sales practice rule for advisers that the IAA strongly opposed.
November 18, 2020
Tags: Derivatives, Fiduciary
The SEC brought and settled its first actions in connection with the Division of Enforcement’s Exchange-Traded Products Initiative.
November 17, 2020
Tags: OCIE, Compliance Policies, SEC Enforcement