SEC Proposes Rules on Advisers’ Use of Technology
On Wednesday, the SEC proposed rules addressing conflicts of interest associated with the use of predictive data analytics by advisers and broker-dealers in investor interactions.
July 27, 2023
Considerations When Drafting an ESG 80% Policy
Coordination of disclosure, compliance, and marketing is critical when developing an ESG 80% Policy. Here are five potential approaches from K&L Gates to make it work.
February 14, 2022
Tags: Columns, Compliance, Compliance Policies, Disclosure, ESG, Gary Gensler, Names Rule
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
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, Principals Fined for Charging Clients Fees Without Providing Advice
A Michigan-based investment adviser and two of its principals are paying more than $900,000 to settle SEC charges related to a breach of their fiduciary duties and failing to disclose conflicts of interest.
October 05, 2021
Tags: Conflicts of Interest, Disclosure, Fees and Expenses, Fiduciary, SEC Enforcement
The CFA Institute has published an exposure draft outlining proposed verification procedures for its ESG Disclosure Standards for Investment Products and requests comments from stakeholders.
September 22, 2021
Tags: Disclosure, ESG
The SEC has fined an Ohio-based dual-registrant for violating the Custody Rule because the firm did not provide investors in two private funds that it advised with audited financial statements or alternatively retain an independent public accountant to conduct surprise examinations of the private funds’ assets.
September 22, 2021
Tags: Custody, Disclosure, Private Funds, SEC Enforcement
SEC Brings More Revenue Sharing Disclosure Cases
Revenue sharing disclosure violations are at the heart of two new enforcement actions by the SEC.
August 17, 2021
Tags: Conflicts of Interest, Disclosure, Revenue Sharing, SEC Enforcement
SEC Adds Lack of Disclosure of Margin Interest Mark-Ups to Share Class-Related Violations
The SEC has fined a Connecticut-based dual-registrant for breaches of fiduciary duty in connection with advising clients to purchase and hold mutual fund share classes that charged 12b-1 fees when lower cost fund shares were available.
August 04, 2021
Tags: Conflicts of Interest, Disclosure, SEC Enforcement, Share Class Disclosure
SEC’s Gensler Previews Upcoming ESG Proposals
In a recent speech, SEC Chair Gary Gensler outlined the proposals that he has asked the SEC staff to develop related to ESG disclosures.
August 02, 2021
Tags: Allison Herren Lee, Disclosure, ESG, Gary Gensler