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Blank Rome LLP

Regulatory Update and Recent SEC Actions, July 2025

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Recent SEC Administration Changes - SEC Names Brian Daly as Director of the Division of Investment Management - On June 10, 2025, the Securities and Exchange Commission (the “SEC”) announced that Natasha Vij Greiner,...more

Paul Hastings LLP

SFDR Update: A Step Up in Scrutiny

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In recent weeks, EU regulators have issued several updates clearly indicating that, while the Sustainable Finance Disclosure Regulation (SFDR) remains subject to review and likely substantial revision at the end of 2025,...more

Ropes & Gray LLP

ESMA’s 2023-2024 Common Supervisory Action on Sustainability Risks and Disclosures: Key Findings

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On 30 June 2025, the European Securities and Markets Authority (ESMA) published its Final Report on the 2023-2024 Common Supervisory Action (CSA) concerning the integration of sustainability risks and disclosures within the...more

Latham & Watkins LLP

SEC Withdraws Proposed Rule on ESG Disclosures for Investment Advisers and Investment Companies

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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

Troutman Pepper Locke

CFPB Backs Chapter 7 Conversion in Synapse Financial Technologies Bankruptcy

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On June 20, the Consumer Financial Protection Bureau (CFPB or Bureau) filed a statement of interest in support of converting the bankruptcy case of Synapse Financial Technologies, Inc. from Chapter 11 to Chapter 7, rather...more

Morgan Lewis

OFAC Action Shows Risk of Not Recognizing That ‘Property Interests’ Include ‘Any Interest Whatsoever’

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The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) fined GVA Capital Ltd. $215 million, primarily for violating the Ukraine/Russia-related sanctions regulations, when GVA mistakenly concluded that it...more

Troutman Pepper Locke

Major OFAC Penalty for US Venture Capital Fund – Key Takeaways

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On June 12, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed a civil penalty of approximately $216 million on GVA Capital Ltd., a venture capital firm based in San Francisco, for...more

DLA Piper

IMpact: Investment Management News - Q2 2025

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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. Pursuant to rules issued in 2024 and...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: June 1, 2025

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Torres Trade Law, PLLC

Outbound enforcement has started; Treasury contacting U.S. investors

Even though the Trump administration is reviewing the outbound foreign investment review regime, enforcement has begun. We’ve now heard multiple reports that the Treasury Department is reaching out to U.S. venture capital and...more

Maynard Nexsen

When Firms Receive Written Notice of Outside Business Activities

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In the world of outside business activity (OBA) disclosure, many FINRA enforcement actions center on whether a registered person gave, or did not give, prior written notice of those activities to their member firm. These...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for April 2025

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. For the month when Paul Atkins was sworn in as SEC Chairman, we examine: • The SEC’s...more

Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 38

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Carlton Fields

Expect Focus - Volume II, May 2025

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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

Akin Gump Strauss Hauer & Feld LLP

March – April 2025 Regulatory Round-Up

His Majesty’s Treasury issued consultation paper—and the Financial Conduct Authority's (FCA) Call for Input—in April, setting out proposals for a revised regime under the Alternative Investment Fund Managers (AIFM)...more

Proskauer - The Capital Commitment

ESG in 2025: Finding the Sweet Spot in a Complex World

With ESG regulation now well embedded across all major jurisdictions, the trend we see for 2025 is about increasingly sophisticated triangulation by private fund managers between the regimes that apply by default (such as...more

Hogan Lovells

SFDR enforcement: Danish regulator says “Managers need to be better at ensuring that their investments are truly sustainable”

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In a statement on 21 March 2024, the Danish Financial Supervisory Authority advised providers of sustainable investment products to ensure that their internal processes comply with sustainable investment requirements. It...more

Proskauer - Regulatory & Compliance

EU Regulators Take Different Enforcement Paths for ESMA ESG Fund Name Guidelines

European regulators have taken different routes as to how they plan to enforce the European Securities and Markets Authority’s (“ESMA”) guidelines (the “Guidelines”) with respect to the use of sustainability‑related terms in...more

Jones Day

Australia's Federal Court imposes significant penalty in latest greenwashing enforcement action to reach hearing.

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The Federal Court of Australia has imposed a $10.5m (AUD) penalty on an Australian superannuation fund, in the latest of the Australian Securities and Investments Commission's greenwashing cases to reach the penalty hearing...more

DLA Piper

SEC Permits Rule 506(c) Accredited Investor Verification with Self-Certification

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The US Securities and Exchange Commission (SEC) has published no-action guidance providing clarity to issuers relying on Rule 506(c) of Regulation D – an exempt offering pathway that permits issuers to publicly advertise an...more

American Conference Institute (ACI)

[Event] 11th National Conference on CFIUS - April 24th - 25th, Washington, DC

Determine how the new administration will affect CFIUS practitioners and how the committee will continue its enforcement practices at ACI’s 11th National Conference on CFIUS. ​Don’t miss your best opportunity to hear how your...more

Vedder Price

SEC Settles Enforcement Proceedings Against Investment Adviser Regarding Alleged Misleading Disclosure Concerning Capital Gains...

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On January 17, 2025, the SEC announced the settlement of administrative proceedings brought against a registered investment adviser for allegedly making materially misleading statements relating to capital gains distributions...more

K&L Gates LLP

Asset Management Regulatory Year in Review 2024

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2024 was a year of meaningful regulatory change for asset managers globally. The regulatory activity was wide ranging and without a particular unifying theme. In fact, the wide, and in cases diverging focuses of key global...more

Mayer Brown Free Writings + Perspectives

Managed Funds Association Publishes Letter to SEC Acting Chair Mark Uyeda

The Managed Funds Association (“MFA”) published a letter dated January 20, 2025, to Acting Chair Mark T. Uyeda of the US Securities and Exchange Commission, outlining several policy recommendations for the SEC’s...more

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