The withdrawal aligns with the SEC’s “back to basics” approach, but it does not preclude scrutiny of ESG in asset managers’ strategies, marketing, and fund documentation....more
6/27/2025
/ Asset Management ,
Corporate Governance ,
Disclosure Requirements ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Greenwashing ,
Investment Companies ,
Investment Funds ,
Investment Management ,
Proposed Rules ,
Registered Investment Advisors ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC)
Interpretive guidance unlocks general solicitation in Regulation D offerings with user-friendly, bright-line approach.
On March 12, 2025, Latham & Watkins obtained SEC Staff guidance on the use of general solicitation in...more
Covered institutions will need to review their cybersecurity and incident response policies and procedures ahead of the applicable compliance deadline. ...more
8/12/2024
/ Broker-Dealer ,
Brokers ,
Compliance ,
Covered Entities ,
Cyber Incident Reporting ,
Cybersecurity ,
Disclosure Requirements ,
Incident Response Plans ,
Investment Companies ,
New Rules ,
Policies and Procedures ,
Registered Investment Advisors ,
Regulation S-P ,
Securities and Exchange Commission (SEC) ,
Transfer Agents
Covered institutions will need to review their cybersecurity and incident response policies and procedures ahead of the applicable compliance deadline.
The Securities and Exchange Commission (SEC) recently adopted...more
8/9/2024
/ Broker-Dealer ,
Compliance ,
Compliance Dates ,
Cyber Incident Reporting ,
Cybersecurity ,
Incident Response Plans ,
Investment Adviser ,
Investment Companies ,
Policies and Procedures ,
Popular ,
Registered Investment Advisors ,
Risk Mitigation ,
S&P ,
Securities and Exchange Commission (SEC) ,
Transfer Agents
RIAs and ERAs may soon be required to implement procedures to verify their clients’ identities.
On May 13, 2024, the Securities and Exchange Commission (SEC) and the US Department of the Treasury’s Financial Crimes...more
This spring Latham & Watkins lawyers provided guidance on the US Securities and Exchange Commission’s (SEC’s) new rules for private fund advisers at the firm’s inaugural Texas Private Funds Breakfast Series in Houston....more
The priorities highlight emerging and core risk areas for investment advisers, broker-dealers, and other entities, including cybersecurity and crypto assets.
On October 16, 2023, the Securities and Exchange Commission’s...more
11/3/2023
/ Broker-Dealer ,
Clearing Agencies ,
Compliance ,
Cryptoassets ,
Cybersecurity ,
FinTech ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Market Participants ,
Marketing ,
Private Funds ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
On August 23, 2023, the Securities and Exchange Commission (SEC) adopted a final rule package (each a Rule, and together, the Rules) that modifies the regulation of private fund advisers under the US Investment Advisers Act...more
8/29/2023
/ Compliance ,
Disclosure Requirements ,
Final Rules ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Private Funds ,
Private Investment Funds ,
Proposed Rules ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
Form 13F filers will need to file their first Form N-PX covering the period of July 1, 2023, to June 30, 2024, by August 31, 2024.
Rule 14Ad1 of the Securities Exchange Act of 1934 (Exchange Act), which was adopted by...more
On May 3, 2023, the US Securities and Exchange Commission (SEC), in a 3-2 decision, adopted a final rule that modifies Form PF’s reporting requirements for certain registered investment advisers to private equity funds, hedge...more
The SEC proposals track EU requirements in certain respects, but differences in content and scope could leave advisory firms with increasingly complex compliance challenges.
Key Points:
..The proposal on ESG...more
In another move related to strengthening its cybersecurity enforcement efforts, the SEC announced that it will nearly double the size of its cyber enforcement unit.
On May 3, 2022, the SEC announced that it will allocate...more
On March 28, 2022, the US Securities and Exchange Commission (SEC) proposed rules (Proposing Release) that would require securities market participants that engage in dealer-like activities - such as a proprietary trading...more
The proposed amendments will have a substantial regulatory impact on private fund managers if adopted.
On February 9, 2022, the Securities and Exchange Commission (SEC) published a proposed rule that, if adopted, would...more
Upon publication of the proposed rule in the Federal Register, stakeholders will have a 30- day period in which to comment.
On January 26, 2022, the Securities and Exchange Commission (SEC) published a proposed rule that,...more
As a major LIBOR transition milestone approaches, a Staff Statement provides key considerations for market participants regarding their obligations.
On December 7, 2021, the Staff of the Securities and Exchange...more
12/13/2021
/ Alternative Reference Rates Committee (ARRC) ,
Asset-Backed Securities ,
Broker-Dealer ,
Investment Adviser ,
Libor ,
Municipal Securities Issuers ,
Publicly-Traded Companies ,
Registered Investment Advisors ,
Regulation Best Interest ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
As COVID-19 continues to disrupt routine operations, OCIE reminds broker-dealers and investment advisers of their ongoing obligations.
On August 12, 2020, the US Securities and Exchange Commission (SEC) Office of...more
While the findings are not new or surprising, they do serve as a reminder of the regulator’s focus on advisers’ fiduciary and supervisory duties.
On June 23, 2020, the Securities and Exchange Commission’s (SEC’s) Office of...more
The extension benefits market participants in the US seeking to comply with EU MiFID II research rules, but significant issues remain.
Key Points:
..The no-action relief has been extended for three additional years from...more
The SEC’s Regulation Best Interest has important implications for institutionally focused broker-dealers and investment bankers.
On June 5, 2019, the US Securities and Exchange Commission (SEC) adopted Regulation Best...more
7/8/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Duty of Care ,
Fiduciary Duty ,
Financial Services Industry ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Regulation BI ,
Retail Investors ,
Securities and Exchange Commission (SEC)