Registered investment advisers should take note of recent pronouncements by the staff of the SEC's Division of Investment Management (the "Division") regarding Rule 206(4)-2 (the "Custody Rule") of the Investment Advisers Act...more
SEC Updates to Form PF FAQs -
On January 18, the Securities and Exchange Commission’s Division of Investment Management updated its Form PF FAQs. Registered investment advisers managing private funds with at least $150...more
1/30/2017
/ Article 50 Treaty of the EU ,
Asset Management ,
EU ,
Form PF ,
Hart-Scott-Rodino Act ,
IOSCO ,
MSRB ,
Regulation AT ,
Residual Interest ,
Threshold Requirements ,
UK ,
UK Brexit
On August 25, the Securities and Exchange Commission (SEC) adopted amendments to Form ADV and to certain rules promulgated under the Investment Adviser Act of 1940, as amended (the "Advisers Act"). These amendments will be...more
BREXIT UPDATE -
Nathaniel Lalone, a Financial Services partner at Katten Muchin Rosenman UK LLP, will continue to share his insight into the evolution of the relationship between the United Kingdom and European Union in...more
7/18/2016
/ Block Trades ,
C&DIs ,
Comment Period ,
EU-US Privacy Shield ,
GAAP ,
IFRS ,
Proposed Regulation ,
Qualified Client ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
UK Brexit
On June 28, the Securities and Exchange Commission (SEC) proposed a new rule, Rule 206(4)-4 (the "Proposed Rule") under the Investment Advisers Act of 1940 (the "Advisers Act"), that would make it unlawful for an...more
On November 16, 2015, the Securities and Exchange Commission (SEC) sued an investment adviser, Virtus Investment Advisers, Inc., who had hired another adviser, F Squared Investments, Inc., to sub-advise certain mutual funds...more
On September 22, 2015, the Securities and Exchange Commission (SEC) filed a settled administrative proceeding[1] alleging that a registered investment adviser failed to adopt cybersecurity procedures in violation of an SEC...more
On June 29, the Securities and Exchange Commission charged Kohlberg Kravis Roberts & Co. (KKR) with violations of Sections 206(2) and 206(4) of the Investment Advisers Act of 1940, as amended, and Rule 206(4)-7 thereunder for...more
In June, the Securities and Exchange Commission’s Division of Investment Management issued a Guidance Update relating to Rule 204A-1 under the Investment Advisers Act of 1940. Rule 204A-1 provides that a registered investment...more
The Securities and Exchange Commission’s Rule 206(4)-5 (Pay-to-Play Rule) under the Investment Advisers Act of 1940, as amended, prohibits, among other restrictions, an investment adviser subject to the rule, and its covered...more
In this issue:
- SEC Seeks Comment on Possible Enhancement of Audit Committee Disclosures
- SEC Proposes Rule Requiring Executive Compensation Clawbacks
- FINRA Requests Comment on Revised Discretionary...more
7/13/2015
/ Audit Committee ,
CFTC ,
Clawbacks ,
Cross-Border ,
Enforcement Actions ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Futures ,
Greece ,
Hong Kong ,
Margin Requirements ,
MiFID II ,
Securities and Exchange Commission (SEC) ,
Swaps
I. Cybersecurity; Its Importance and Relevance – How We Got to Where We Are Today -
In the past few months, the White House, Home Depot, JP Morgan, Hard Rock Hotels, Tesla, the St. Louis Federal Reserve, the Internal...more
6/24/2015
/ Best Practices ,
CFTC ,
Cyber Attacks ,
Cybersecurity ,
Data Breach ,
Department of Justice (DOJ) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
NASD ,
NFA ,
Popular ,
Regulation S-P ,
Regulatory Agencies ,
Regulatory Agenda ,
Risk Assessment ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Strategic Planning
Every five years, the US Department of Commerce's Bureau of Economic Analysis (BEA) conducts a survey concerning the extent of investment abroad by US individuals and entities (US persons). In the past, only US persons...more
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) announced that it is launching an initiative, as part of its existing National Exam Program, to examine investment advisers who...more
In this issue:
- OTC Markets Proposes Amendments to OTCQX Rules and New Rules for US Banks
- SEC Approves Changes to FINRA BrokerCheck Disclosure Rule 8312
- SEC to Examine Never-Before Examined...more
2/24/2014
/ Bank Holding Company ,
Banking Sector ,
Broker-Dealer ,
Disclosure Requirements ,
Dodd-Frank ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Reform ,
Foreign Banks ,
Investment Adviser ,
IRS ,
Over The Counter Derivatives (OTC) ,
Securities and Exchange Commission (SEC) ,
Tax Preparers ,
Tax Returns
It is well-known that high-profile jurisdictions such as California and New York City have in certain instances placed lobbyist registration requirements on investment managers that solicit investment advisory business from...more