News & Analysis as of

Investment Adviser Compliance Penalties

Procopio, Cory, Hargreaves & Savitch LLP

When Must Private Fund Managers File as an Exempt Reporting Adviser in California?

Some private fund managers in California face potentially dire consequences if they fail to properly register with the state and the U.S. Securities and Exchange Commission (SEC). Failing to adhere to relevant securities laws...more

DLA Piper

SEC Targets Investment Adviser Cherry-picking in Recent Enforcement Actions

DLA Piper on

The US Securities and Exchange Commission (SEC) has sharpened its focus on “cherry-picking,” a practice in which investment advisers allocate profitable trades to favored accounts – sometimes their own – while assigning less...more

White & Case LLP

SEC Charges Investment Adviser - Signaling Importance of Accurate Disclosure of AML Procedures

White & Case LLP on

The U.S. Securities & Exchange Commission ("SEC") recently announced settled charges against an investment adviser for misrepresentations regarding its anti-money laundering ("AML") procedures and compliance failures. As we...more

Seward & Kissel LLP

SEC Charges Investment Company, CEO and Board Member for Alleged Misleading Statements Regarding Use of Artificial Intelligence

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies; Boards of Directors; Compliance Staff; Registered Investment Advisers - Quick Take: The SEC recently settled charges against a registered investment adviser (Adviser)...more

Seward & Kissel LLP

Continued SEC Enforcement Actions Relating to Off Channel Communications

Seward & Kissel LLP on

Who may be interested: Registered Investment Advisers, Registered Investment Companies, Compliance Staff - Quick Take: The SEC recently announced a number of additional enforcement actions relating to recordkeeping...more

Seward & Kissel LLP

SEC Charges Five Advisers with Violations of the Marketing Rule; SEC Staff Releases Risk Alert on Marketing Rule Compliance

Seward & Kissel LLP on

Who may be interested: Registered Investment Companies, Investment Advisers, Broker-Dealers - Quick Take: The SEC settled charges in separate actions against five investment advisers (Advisers) for violations of Rule...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: April 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: May 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges. ...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: July 1, 2023

The Nutter Securities Enforcement Update is a periodic summary of noteworthy recent securities enforcement activity, settlements, decisions, and charges....more

Seward & Kissel LLP

SEC Charges Sixteen Firms for Recordkeeping Failures Related to Employee Use of Personal Devices

Seward & Kissel LLP on

On September 27, 2022, the Securities and Exchange Commission (“Commission”) entered into a series of settled orders (“Orders”) against 15 broker-dealers and one affiliated investment adviser for widespread failures by the...more

Foley Hoag LLP

SEC Brings First Enforcement Action Against Issuer for Disclosures About Financial Effects of COVID-19

Foley Hoag LLP on

On December 4, 2020, the SEC brought its first case charging a public company, The Cheesecake Factory, with making misleading disclosures about the effects of COVID-19 on its business operations and financial condition. The...more

Foley & Lardner LLP

A Compilation of Enforcement and Non-Enforcement Actions

Foley & Lardner LLP on

Non-Enforcement - Form PF — What Purpose? SEC registered investment advisers with at least $150 million of assets under management in private funds are required to periodically file Form PF with the SEC. The...more

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