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A&O Shearman

FCA launches IAAT

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The UK Financial Conduct Authority (FCA) has launched the investment advice assessment tool (IAAT) to help personal investment firms assess the suitability of their investment advice and disclosures to consumers (excluding...more

Offit Kurman

Prudent Investing in Uncertain Economic Conditions

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The Prudent Investor Rule is a legal principal that requires fiduciaries to act in the best interests of a beneficiary and exercise reasonable care, skill, and caution when making investment decisions, which was codified in...more

Alston & Bird

SEC’s 2025 Examination Priorities: Continued Focus on Private Funds and Cybersecurity

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Our Investment Funds and White Collar, Government & Internal Investigations Groups discuss what investment fund advisers and broker-dealers should know about the Securities and Exchange Commission’s Division of Examinations’...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Pacing Growth and Maintaining Discipline with Wellington Management’s Shanna O’Reilly

Welcome to Season 4 of Private Market Talks! In our newest episode, we are joined by Shanna O’Reilly, co-head of Private Investments at Wellington Management, one of the world’s largest investment managers. Shanna helped...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for September 2024

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

DLA Piper

IMpact: Investment Management News – September 2024

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Welcome to IMpact: Investment Management News. In this regular bulletin, DLA Piper lawyers share their insights on key developments that are impacting the investment management industry....more

White & Case LLP

Other Financial Services - UK & European Financial Services M&A: Sector Trends H2 2023 | H1 2024

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Asset / Wealth Management - Current market: Consistently high M&A activity levels - We are seeing: Europe’s barbell becomes more pronounced—larger asset / wealth managers swallow smaller competitors at pace: -...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for August 2024

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

SEC Compliance Consultants, Inc. (SEC³)

Latest SEC Document Request Lists: What Private Fund Managers Should be Worrying About

Many private fund managers are breathing a sigh of relief after the Fifth Circuit struck down the Private Fund Rules (check out our blog post for more information). Do not, however, assume the SEC will stop its aggressive...more

Alston & Bird

SEC Does Not Appeal Fifth Circuit’s Overturn of SEC Private Funds Rules

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Our Investment Funds Team examines why the Securities and Exchange Commission is passing on the opportunity to appeal the Fifth Circuit’s ruling to vacate the Private Funds Rules....more

Woodruff Sawyer

Risk Mitigation for Asset Managers After the Demise of the Private Fund Adviser Rules

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While there is rest for weary legal and compliance pros at asset managers, and as you enjoy a cool Arnold Palmer in your hammock this Independence Day, spend a few minutes thinking about how your firm can leverage this moment...more

SEC Compliance Consultants, Inc. (SEC³)

Regulatory Roundup for June 2024

Private Fund Rules Cancelled, Survey Says Marketing Rule is a Lot of Work and the Intersection of Regulation BI and Investment Adviser’s Fiduciary Duty - Welcome to our June Regulatory Roundup, where we provide you with a...more

Alston & Bird

Fifth Circuit Overturns SEC Private Funds Rules

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Our Investment Funds Team reviews the implications of the Fifth Circuit’s decision to vacate the Securities and Exchange Commission’s Private Funds Rules....more

Latham & Watkins LLP

Taking Security in Africa: A Comparative Guide for Investors - May 2024

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This guide provides an overview of the types of assets over which security can be taken, the different types of security, as well as the related procedures for the perfection and enforcement of such security in Africa....more

Seward & Kissel LLP

SEC Wins First “Shadow Trading” Trial

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On April 5, 2024, after an eight-day trial, a jury in the U.S. District Court for the Northern District of California returned a verdict for the Securities and Exchange Commission in its first “shadow trading” case after...more

K&L Gates LLP

SEC and CFTC Adopt Amendments to Form PF for Increased Disclosure

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Brief Overview - On 8 February 2024, the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly adopted amendments to Form PF (the Amendments), the confidential reporting form...more

K&L Gates LLP

The SEC's New Private Fund Adviser Rules: A Guide to Compliance (Updated)

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On 23 August, the US Securities and Exchange Commission adopted new rules and rule amendments that will impose substantial regulation on the management and operation of private funds by investment advisers. The Guide to...more

Alston & Bird

A Practical Guide to the SEC’s Private Fund Adviser Rules: Commentary and Industry Insight

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In August 2023, the U.S. Securities and Exchange Commission adopted new rules and amendments to rules under the Investment Advisers Act of 1940, as amended, affecting registered and unregistered advisers to private funds. We...more

K&L Gates LLP

Stay on Target: FINRA Proposes Rules Permitting Presentation of Performance Projections and Targets

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The regulation of broker-dealer communications is delegated to the Financial Industry Regulatory Authority, Inc. (FINRA), while investment adviser advertisements are regulated directly by the US Securities and Exchange...more

Latham & Watkins LLP

Hong Kong Regulators Update Guidance for Intermediaries’ Virtual Asset-related Activities

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Revamped SFC and HKMA guidance applies to intermediaries that distribute products or provide dealing, advisory, and asset management services related to virtual assets. On 20 October 2023, the Hong Kong Monetary...more

Proskauer - Private Market Talks Podcast

[Podcast] Private Market Talks: Private Funds Under Scrutiny with MFA’s Bryan Corbett

This week on Private Market Talks, we welcome Bryan Corbett, a veteran of both Washington and Wall Street. As president and CEO of the Managed Funds Association, Bryan sits at the forefront of regulatory policy issues...more

K&L Gates LLP

The SEC's New Private Fund Adviser Rules: A Guide to Compliance

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On 23 August, the US Securities and Exchange Commission adopted new rules and rule amendments that will impose substantial regulation on the management and operation of private funds by investment advisers. The Guide to...more

Harris Beach Murtha PLLC

New Rules for Private Fund Advisers

The United States Securities and Exchange Commission recently adopted sweeping changes to the regulatory regime that governs private investment funds – hedge funds and private equity funds. The Aug. 23, 2023, changes are the...more

Cadwalader, Wickersham & Taft LLP

Investors Accuse Large Asset Manager of Not Adequately Addressing Climate Risk

More than 1,400 individual investors have signed a letter asserting that a large U.S.-based asset manager is violating its fiduciary duty to mitigate climate-related investment risks....more

Stinson LLP

SEC Proposes New Rules for Private Investment Funds

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On February 9, 2022, the SEC proposed new rules and amendments under the Investment Advisers Act of 1940 to regulate the $18-trillion private fund market. ...more

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