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Fund Managers Investment Adviser Fiduciary Duty

Foley & Lardner LLP

SEC Settlement Highlights Importance of Proper Disclosure Requirements for Private Fund Managers

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On January 10, 2025, the Securities and Exchange Commission (SEC) settled charges against two fund managers (collectively the “Fund Managers”) and their sole owner, chief executive office, chief compliance office, and founder...more

Goodwin

2025 SEC Exam Priorities for Investment Advisers and Registered Investment Companies

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On October 21, the Securities and Exchange Commission’s (SEC’s) Division of Examinations (Division) released its examination priorities for 2025, outlining the key topics the Division plans to focus on in the upcoming fiscal...more

A&O Shearman

SEC private fund adviser rule vacated by Fifth Circuit

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On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit held that the U.S. Securities and Exchange Commission had exceeded its statutory authority in adopting its controversial private fund advisers rule....more

Sullivan & Worcester

Are the SEC’s Private Fund Advisers Rules Now Dead? No, but they are on Life Support

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The U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) has thrown a wrench into the gears of the U.S. Securities and Exchange Commission (the “SEC”) in its attempt to regulate those investment advisers that...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 11

SEC Announces Inspection Priorities for 2023 - On February 7, the Securities and Exchange Commission (SEC) announced its inspection priorities for the current year. The announcement began by noting that the SEC examined 15...more

K&L Gates LLP

The SEC's Division of Examinations Publishes 2022 Examination Priorities and Previews Key Focus Areas for Registered Investment...

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On 30 March 2022, the Division of Examinations (the Division) of the U.S. Securities and Exchange Commission (SEC) released its examination priorities for the 2022 fiscal year. The Division highlighted five “significant focus...more

Akin Gump Strauss Hauer & Feld LLP

The SEC is Kicking Off 2022 With a Renewed Focus on the Private Funds Industry: A Review of Recent Enforcement Actions and their...

Private funds should be prepared for increased oversight from the Securities and Exchange Commission (SEC), following a landmark year of enforcement cases. In 2021, the Commission brought 159 enforcement actions against...more

Goodwin

Private Equity Comment: Sustainable Finance Disclosure Regulation, ELTIFs, And ESG Issues Relating To ERISA

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This edition of Private Equity Comment looks at the Sustainable Finance Disclosure Regulation, which fund managers will need to comply with beginning 10 March, 2021, an ongoing consultation on European Long Term Investment...more

Proskauer Rose LLP

The ERISA Litigation Newsletter - September 2016

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Editor's Overview - This month, we have re-published an interview of our colleague Seth Safra discussing the Department of Labor’s final regulation concerning fiduciaries and conflicts of interest. In this interview,...more

Proskauer Rose LLP

Private Investment Fund Managers and Other Investment Advisers May Be Affected by the U.S. Department of Labor’s New Fiduciary...

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On April 6, 2016, the U.S. Department of Labor (DOL) issued its highly anticipated final rule addressing when a person is considered to be a fiduciary under the Employee Retirement Income Security Act of 1974 (ERISA) and the...more

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