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First Circuit’s Reversal of Summary Judgment Clarifies Materiality Standard for Advisory Conflicts

A recent ruling may raise the bar for the Securities and Exchange Commission (SEC) in charging registered investment advisers for omissions of potential conflicts and seeking disgorgement, giving the defense bar additional...more

SEC Examination Risk Alert Signals Focus on Digital Asset Securities

On February 26, 2021, the SEC’s Division of Examinations issued a Risk Alert signaling an exam focus this year on activities of investment advisers, broker-dealers, exchanges, and transfer agents related to Digital Asset...more

Division of Examinations Issues Risk Alert on Securities Investment that Finance Communist Chinese Military Companies

On January 6, 2021, the Division of Examinations (“Division”) issued a Risk Alert to notify investment advisers, broker-dealers, and other market participants of a recent action relating to investments in securities...more

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