On September 20, 2023, the US Securities and Exchange Commission (the “SEC”) voted, by a 4-1 vote, to adopt certain amendments (the “final rule” or the “amendments”) to Rule 35d-1 (the “Names Rule”) under the Investment...more
10/5/2023
/ Amended Rules ,
Compliance ,
Compliance Dates ,
Derivatives ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
Final Rules ,
Form N-PORT ,
Investment Company Act of 1940 ,
Investment Funds ,
Notice Requirements ,
Prospectus ,
Recordkeeping Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
On November 2, 2022, the U.S. Securities and Exchange Commission (“SEC”), by a vote of 3-2, proposed amendments to rules under the Investment Company Act of 1940 that would modify the existing liquidity risk management...more
11/8/2022
/ Comment Period ,
Compliance Dates ,
Disclosure Requirements ,
ETFs ,
Investment Company Act of 1940 ,
Liquidity ,
Open-Ended Fund Companies (OFCs) ,
Proposed Amendments ,
Reporting Requirements ,
Risk Management ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
FDIC Takes Action Against False or Misleading Crypto-Related Representations -
On August 19, the FDIC issued letters (the Letters) to five companies demanding that they cease and desist from making false and misleading...more
8/29/2022
/ Banking Sector ,
Cease and Desist ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
Deposit Insurance ,
Disclosure Requirements ,
False Statements ,
FDIC ,
Federal Reserve ,
Financial Reporting ,
FTC Act ,
Misleading Statements ,
Overdraft Fees ,
Section 5 ,
Securities and Exchange Commission (SEC) ,
Supervision ,
Swap Dealers
On February 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) proposed a package of new rules and amendments to enhance cybersecurity preparedness and improve cyber resilience of investment advisers and investment...more
2/11/2022
/ Comment Period ,
Cyber Attacks ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Disclosure Requirements ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investment Companies ,
Investment Company Act of 1940 ,
New Rules ,
Policies and Procedures ,
Proposed Rules ,
Public Comment ,
Recordkeeping Requirements ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
In This Issue. The Financial Crimes Enforcement Network (FinCEN) issued a proposed rule about the establishment of a limited-duration pilot program for sharing suspicious activity reports (SARs); FinCEN published the final...more
1/28/2022
/ Borrowers ,
Broker-Dealer ,
Civil Monetary Penalty ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Cross-Border ,
Deposit Insurance ,
Disclosure Requirements ,
Division of Investment Management ,
European Securities and Markets Authority (ESMA) ,
Examination Procedures ,
FDIC ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Fund Distribution ,
Inflation Adjustments ,
Investors ,
Irrevocable Trusts ,
Lenders ,
Marketing ,
Mortgage Servicers ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
Pilot Programs ,
Proposed Rules ,
Public Comment ,
Reporting Requirements ,
Revocable Trusts ,
Securities and Exchange Commission (SEC) ,
Student Loans ,
Suspicious Activity Reports (SARs)
In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more
1/7/2022
/ Antitrust Division ,
Banking Sector ,
Banks ,
Beneficial Owner ,
Best Practices ,
Board of Governors ,
Broker-Dealer ,
Climate Change ,
Comment Period ,
Community Banks ,
Corporate Transparency Act ,
Department of Justice (DOJ) ,
Depository Institutions ,
Disclosure Requirements ,
Division of Investment Management ,
FDIC ,
Federal Reserve ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Foreign Corporations ,
Form CRS ,
Mergers ,
Notice of Proposed Rulemaking (NOPR) ,
OCC ,
Ownership Requirements ,
PCAOB ,
Proposed Rules ,
Public Comment ,
Publicly-Traded Companies ,
Registered Investment Advisors ,
Reporting Requirements ,
Repurchases ,
Retail Investors ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
In This Issue. The U.S. Securities and Exchange Commission (SEC) adopted amendments to modernize filing fee disclosure and payment methods; the Financial Industry Regulatory Authority (FINRA) announced an examination of...more
10/15/2021
/ Anti-Money Laundering ,
Automated Clearing House (ACH) ,
Bank Secrecy Act ,
Broker-Dealer ,
BSA/AML ,
Disclosure Requirements ,
Filing Fees ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Investment Companies ,
Investors ,
Payment Methods ,
Securities and Exchange Commission (SEC) ,
Special Purpose Acquisition Companies (SPACs) ,
Terrorism Funding
In This Issue. The Consumer Financial Protection Bureau (CFPB) released a new Compliance Aid; the U.S. Securities and Exchange Commission (SEC) proposed amendments to Form N-PX with the goal of making it easier and more...more
10/11/2021
/ Collection Agencies ,
Comment Period ,
Consumer Financial Protection Bureau (CFPB) ,
Debt Collection ,
Debt Collectors ,
Debtors ,
Disclosure Requirements ,
FDCPA ,
Federal Reserve ,
Final Rules ,
Financial Services Industry ,
International Organization for Standardization ,
Investment Companies ,
Investment Funds ,
Investment Management ,
Investors ,
Proposed Amendments ,
Proxy Voting ,
Public Comment ,
Regulation F ,
Securities and Exchange Commission (SEC)
In This Issue. The federal bank regulatory agencies requested public comment on proposed guidance designed to help banking organizations manage risks associated with third-party relationships; the Office of the Comptroller of...more
7/30/2021
/ Banking Sector ,
Climate Change ,
Comment Period ,
Cross Trading ,
Disclosure Requirements ,
FDIC ,
Fees ,
Fiduciary Duty ,
Financial Services Industry ,
Fixed Income Investments ,
Investment Adviser ,
OCC ,
Policies and Procedures ,
Proposed Guidance ,
Public Comment ,
Registered Investment Advisors ,
Regulatory Agencies ,
Risk Alert ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Third-Party Risk