With a ruling issued on August 25, 2023, the Supreme Judicial Court of Massachusetts (the “Massachusetts Supreme Court”) revived the Massachusetts fiduciary duty rule (the “Rule”) that raises the fiduciary standard for...more
On July 26, 2023, the Securities and Exchange Commission (the “SEC”) adopted new rules (the “Rules”) that will require public companies and foreign private issuers to disclose material cybersecurity incidents within four...more
On June 8, 2023, the Security and Exchange Commission’s (“SEC’s”) Division of Examinations (the “Division”) published a Risk Alert (the “Alert”) announcing “additional areas of emphasis” during the next leg of sweep...more
On June 16, 2023, the Securities and Exchange Commission (“SEC”) issued a press release announcing a $2.5 million settlement order of an enforcement action (the “Order”) against a multi-trillion dollar registered investment...more
On May 5, 2023, the Securities and Exchange Commission (the “SEC”) announced its first enforcement action against an investment adviser for violations of Rule 22e-4(b) (the “Liquidity Rule”) of the Investment Company Act of...more
On May 3, 2023, the Securities and Exchange Commission (the “SEC”) adopted a new rule (the “Rule”) that amends Form PF, the confidential reporting form for certain SEC-registered investment advisers to privately-offered...more