Trump Picks New SEC Head, SEC Enforcement Starts Strong in 2025, and Latest Lessons from EXAMS: Details Matter and Duty of Care Fails - Welcome to our January 2025 Regulatory Roundup, where we provide practical advice on the...more
2/3/2025
/ Cryptocurrency ,
Disclosure Requirements ,
Enforcement Actions ,
Enforcement Priorities ,
Fiduciary Duty ,
Form PF ,
Investment Adviser ,
Presidential Appointments ,
Private Funds ,
Regulation D ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Trump Administration
Welcome to our December 20243 Regulatory Roundup, where we provide practical advice on the latest regulatory headlines. We start this issue with the SEC’s 2024 enforcement results, which fell somewhat short after its 2023...more
12/31/2024
/ Asset Management ,
Beneficial Owner ,
Compliance ,
Corporate Governance ,
Corporate Transparency Act ,
Disclosure Requirements ,
Enforcement Actions ,
Investment Adviser ,
Investment Firms ,
Publicly-Traded Companies ,
Reporting Requirements ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
After its fiscal year-end frenzy in September, the SEC relaxed slightly, with no new rule-making and fewer enforcement actions. So, I took a break last month and combined the October and November Roundups. (You’re welcome.)...more
11/27/2024
/ Asset Management ,
Compliance ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Greenwashing ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Firms ,
Private Funds ,
Registered Investment Advisors ,
Regulation S-P ,
Regulatory Requirements ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations
In the SEC’s burst of settlements at the end of its fiscal year, one case about the potential misuse of material nonpublic inside information (“MNPI”) shows just how far down in the weeds it is willing to go to prevent...more
10/21/2024
/ Capital Markets ,
Debt Restructuring ,
Distressed Debt ,
Enforcement Actions ,
Investment Adviser ,
Investment Firms ,
MNPI ,
Non-Disclosure Agreement ,
Private Funds ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Advisers Drafted by FinCEN for AML Duty, More Fines for E-Comm Retention Failures and a September Miracle, SEC Falls Back on Broken Windows Strategy, and a Refusal to Give Up on Private Fund Rules - FinCEN added to advisers’...more
10/1/2024
/ Anti-Money Laundering ,
Asset Management ,
Enforcement Actions ,
Exempt Reporting Advisers (ERAs) ,
FinCEN ,
Investment Adviser ,
Investors ,
Private Funds ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Settlement ,
Suspicious Activity Reports (SARs)
September 30 is the SEC’s fiscal year-end, so it's no surprise to see an uptick in enforcement cases this month. The latest slew of settlements involved violations of the Marketing Rule (Advisers Act Rule 204(4)-1) for...more
More Flack on WhatsApp, Hypothetical Performance SmackDown, A Timely Warning on the Pay-to-Play Rule, and Updates to Qualifying Venture Capital Fund Exemption - This month's big news from the SEC was more piggy-bank breaking...more
9/4/2024
/ Asset Management ,
Broker-Dealer ,
Campaign Contributions ,
Compliance Monitoring ,
Enforcement Actions ,
Fines ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Marketing ,
Pay-To-Play ,
Recordkeeping Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Self-Reporting ,
Settlement ,
Venture Capital ,
Workplace Communication
SEC Loses in ALJ Case, DOL’s Latest Fiduciary Rule Put on Hold, and SEC Reconsiders AI and Custody Rule Proposals - Welcome to our July Regulatory Roundup, where we provide a quick look at the latest regulatory developments....more
7/31/2024
/ Administrative Authority ,
Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Civil Monetary Penalty ,
Compliance ,
Cybersecurity ,
Department of Labor (DOL) ,
Enforcement Actions ,
Financial Markets ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Investment Adviser ,
Popular ,
Preliminary Injunctions ,
Prohibited Transactions ,
Regulatory Authority ,
Regulatory Oversight ,
Risk Management ,
SCOTUS ,
SEC v Jarkesy ,
Securities and Exchange Commission (SEC) ,
Securities Fraud ,
Seventh Amendment