Builder of Investment Models Deviates From Blueprints Employee’s Rogue Remodeling Costs Builder Plenty -
The SEC’s recent order instituting administrative and cease-and-desist proceedings (OIP) against registered...more
5/8/2025
/ Algorithms ,
Annuities ,
Compensation & Benefits ,
Employee Benefits ,
Enforcement Actions ,
Financial Services Industry ,
Investment ,
Investment Adviser ,
Investment Funds ,
Investment Management ,
Life Insurance ,
Registered Investment Advisors ,
Retirement Plan ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
A shift in leadership at the Securities and Exchange Commission often brings significant changes in regulatory priorities and enforcement approaches. As anticipated in our firm’s EO Watch alert, “Immediate Practical...more
3/25/2025
/ Administrative Appointments ,
Cryptocurrency ,
Executive Orders ,
Financial Markets ,
Financial Regulatory Reform ,
Investment ,
Investment Adviser ,
Proposed Rules ,
Regulatory Agencies ,
Regulatory Agenda ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Trump Administration
The Mysterious Boundary Beyond Which “Personal” Relationships Jeopardize a Director’s Independence -
In a recent enforcement action, the SEC concluded that the relationship between James Craigie and an officer of Church &...more
2/11/2025
/ Blockchain ,
Board of Directors ,
BSA/AML ,
Consumer Insurance Products ,
Corporate Governance ,
EFTs ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Enforcement Actions ,
Fiduciary Duty ,
Investment ,
Investment Contract ,
Publicly-Traded Companies ,
Retirement ,
Securities and Exchange Commission (SEC) ,
Variable Insurance
Section 47(b) of the Investment Company Act of 1940 provides that contracts that violate or “whose performance involves, a violation of” the act are not enforceable by “either party.” ...more
1/30/2025
/ Corporate Governance ,
Enforcement Actions ,
Investment ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
Mutual Funds ,
Private Right of Action ,
SCOTUS ,
Section 47(b) ,
Securities Litigation ,
Securities Regulation ,
Securities Violations ,
Shareholders
Gone With the Wind?
Closed-End Funds Risk Extinction -
Shares of SEC-registered closed-end funds (CEFs) have long held significant potential advantages for some investors. For example, unlike shares of mutual funds...more
10/16/2024
/ Cybersecurity ,
Employee Benefits ,
Employee Retirement Income Security Act (ERISA) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Insurance Regulations ,
Investment ,
Investment Adviser ,
Investment Management ,
Life Insurance ,
NAIC ,
Retirement Plan ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Social Media
Shares of SEC-registered closed-end funds (CEFs) have long held significant potential advantages for some investors. For example, unlike shares of mutual funds (which are open-end funds), CEF shares cannot be redeemed by the...more
“Tontines” are a very old form of investment, and there have been many variations. The basic idea is that the longest surviving investors in tontines will be credited with tontine assets attributable to investors who...more
With increasing frequency, petitioners representing the securities industry are asking courts to decide that rules adopted by the SEC exceed the agency’s authority, even when the rules have barely left the starting blocks....more
The SEC recently adopted amendments to its investment company “names” rule that apply to most SEC-registered funds, including underlying funds in which registered insurance company separate accounts invest....more
Though “insider trading” has long been recognized as an illegal and abusive way to cheat in the securities trading game, new potential forms of this activity have recently emerged. ...more
In February 2023, the SEC adopted rule amendments that require most securities transactions effected by broker-dealers to be settled within one business day (T+1), rather than the currently required two business days. The SEC...more
Marketing Private Life Insurance Separate Accounts to Smaller Banks -
Subject to certain exceptions, the so-called “Volcker rule” provisions of the Dodd-Frank Act and regulations thereunder (collectively, the Volcker Rule)...more
10/4/2018
/ BOLI ,
Covered Funds ,
Dodd-Frank ,
Federal Reserve ,
Financial Institutions ,
Financial Regulatory Reform ,
Insurance Industry ,
Insurance Investment Products ,
Investment ,
Life Insurance ,
Regulatory Oversight ,
Regulatory Standards ,
SIFIs ,
Threshold Requirements ,
Volcker Rule
EXPECTFOCUS® is a quarterly review of developments in the insurance and financial services industry, provided on a complimentary basis to clients and friends of Carlton Fields Jorden Burt, P.A.
...more
10/20/2017
/ Annuities ,
Best Interest Contract Exemptions ,
Big Data ,
Blockchain ,
Capital Raising ,
Conflicts of Interest ,
Cybersecurity ,
Data Security ,
Distributed Ledger Technology (DLT) ,
Elder Abuse ,
ETFs ,
Fiduciary Duty ,
Fiduciary Rule ,
Insurance Industry ,
Interest Rates ,
Investment ,
Investment Management ,
Life Insurance ,
NAIC ,
OCIE ,
Securities and Exchange Commission (SEC) ,
STOLI
On March 22, the Securities and Exchange Commission (“Commission”) adopted a rule amendment that shortens the time by which most securities transactions effected by a broker-dealer are required to settle. Under the amendment,...more
The Securities and Exchange Commission (SEC) staff has reportedly been asking mutual funds how they value their investments in “unicorns” – i.e., dynamic pre-IPO companies with market capitalization exceeding $1 billion, and...more
IN THE SPOTLIGHT -
- SEC Sanctions Unregistered EB-5 Investments Broker
SECURITIES -
- FINRA to Assess Member Firms’ Culture
- SEC Seeks Fund Responses to Distribution-In-Guise Guidance...more
7/26/2016
/ Administrative Law Judge (ALJ) ,
Administrative Proceedings ,
Arbitration ,
Banking Sector ,
Class Action ,
Class Action Arbitration Waivers ,
Consumer Financial Protection Bureau (CFPB) ,
Data Breach ,
Debt Buyers ,
Department of Justice (DOJ) ,
EB-5 ,
Electronic Data Transmissions ,
Enforcement Actions ,
Facebook ,
Fair Credit Reporting Act (FCRA) ,
Federal Pilot Programs ,
FFIEC ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Corrupt Practices Act (FCPA) ,
Foreign Investment ,
Health Insurance Portability and Accountability Act (HIPAA) ,
Healthcare ,
Immigrant Investor Program ,
Individual Accountability ,
Inpatient Billing ,
Insurance Industry ,
Investment ,
Job Creation ,
Payday Loans ,
Pensions ,
Popular ,
Property Damage ,
Property Insurance ,
Securities ,
Securities and Exchange Commission (SEC) ,
Self-Reporting ,
Spokeo v Robins ,
Student Loans ,
Two-Midnight Rule ,
Whistleblower Awards ,
Whistleblowers
Speaking at the Brookings Institution this April, FINRA head Richard Ketchum emphasized the importance of a broker-dealer having a "culture" that favors the firm’s customers when their interests conflict with those of the...more
7/19/2016
/ Broker-Dealer ,
Corporate Culture ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Investment ,
Investment Adviser ,
Investment Management ,
Investors ,
Regulatory Standards ,
Securities
The SEC recently published myriad questions about the listing, trading, and marketing (especially to retail investors) of "new, novel, or complex" exchange-traded products (ETPs). Such ETPs include exchange-traded funds...more
10/5/2015
/ Broker-Dealer ,
ETFs ,
Exchange-Traded Products ,
Financial Markets ,
Investment ,
Investment Company Act of 1940 ,
Investors ,
No-Action Relief ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Trading Platforms
The Board of the International Organization of Securities Commissions (IOSCO) in June made an important recommendation concerning any risks that investment funds and advisors present to the global financial system....more
10/5/2015
/ Asset Management ,
Consumer Financial Products ,
Federal Reserve ,
Financial Institutions ,
Financial Markets ,
FSB ,
FSOC ,
Investment ,
Investment Funds ,
Investors ,
IOSCO ,
Regulatory Standards ,
Risk Assessment