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Investment Adviser Disclosure Requirements Investment Company Act of 1940

Seward & Kissel LLP

SEC Extends Compliance Dates for Amendments to Names Rule

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Who may be interested: Registered Investment Companies; Investment Advisers; Boards of Directors; Compliance Officers - Quick Take: The SEC recently announced a six-month extension of the compliance dates for amendments to...more

Morgan Lewis

SEC Staff Issues Names Rule FAQs

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The Staff of the US Securities and Exchange Commission has issued FAQs regarding recent amendments to Rule 35d-1 (often referred to as the Names Rule) under the Investment Company Act of 1940. The amendments to the Names...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: January 1, 2024

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

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - November 2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

Morrison & Foerster LLP

ESG Claim to Fame: Addressing Fund Names and Safeguarding Investor Expectations Under the SEC's Amended Names Rule

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Regulators across the globe continue to focus on disclosures and marketing relating to environmental, social, and governance (ESG) issues. Consistent with this trend, on September 20, 2023, the U.S. Securities and Exchange...more

Paul Hastings LLP

Investment Funds & Private Capital Market Insights: SEC’s Final Amendments to Fund “Names Rule” and Procedures

Paul Hastings LLP on

On September 20, 2023, the Securities and Exchange Commission (the “SEC”) adopted amendments to Rule 35d-1 (the “Names Rule”) under the Investment Company Act of 1940, as amended, which is intended to prohibit the use of fund...more

Seward & Kissel LLP

SEC Settles Charges with Registered Adviser for Disclosure and Policy and Procedure Violations

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

DCI Consulting

Proposed SEC Ruling on ESG Disclosure for Investment Firms

DCI Consulting on

In June 2022, the Securities and Exchange Commission (SEC) announced a proposal to enhance Environmental, Social, & Governance (ESG) reporting for investment companies and advisors. The proposed rule would amend rules under...more

Vinson & Elkins LLP

Don’t Forget the G: After Years of “Environmental” and “Social” Regulations and Enforcement, the SEC’s Recent Priorities...

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The SEC has been busy under the Biden administration. From rulemaking to enforcement, the agency is pushing boundaries and expanding its reach into new and active areas of the market....more

White & Case LLP

The INDEX Act: A challenge to the voting influence of institutional investors that may yield unintended consequences

White & Case LLP on

The Act's supporters say it would shift voting power from large investment advisers to individual investors, but the reality could be far more complex - The INDEX Act arrives at a moment of increasing resistance to ESG...more

Faegre Drinker Biddle & Reath LLP

SEC Proposes ESG Disclosure Requirements for Investment Advisers

In a three-to-one vote on May 25, 2022, the U.S. Securities and Exchange Commission (SEC) issued proposed amendments to rules and reporting forms that would require registered investment advisers — including private fund...more

Holland & Knight LLP

SEC ESG-Rulemaking Wave Continues with Proposed Rule for Advisers and Funds

Holland & Knight LLP on

In the SEC's latest environmental, social and governance (ESG) rulemaking salvo, the agency proposed two new ESG-focused rules aimed at the advisory and investment company space: 1) proposed amendments to the "Names Rule"...more

Lowenstein Sandler LLP

SEC Proposes Rules to Enhance ESG Disclosures by Advisers and Registered Funds

Lowenstein Sandler LLP on

On May 25, 2022, the Securities and Exchange Commission (SEC) proposed rules to (i) enhance and standardize the disclosures of Advisers and Registered Funds, related to the incorporation of environmental, social, and...more

Eversheds Sutherland (US) LLP

SEC proposes enhanced investment company and investment adviser ESG disclosures

On May 25, 2022, the Securities and Exchange Commission (SEC) proposed significant rule and form amendments under the Investment Company Act of 1940, as amended (1940 Act) and the Investment Advisers Act of 1940, as amended...more

Mayer Brown Free Writings + Perspectives

US SEC Proposes Rules Regarding ESG for Certain Funds and Advisers

At an open meeting on May 25, 2022, the US Securities and Exchange Commission (“SEC” or “Commission”) approved two new proposals that will impact the fund and investment management industry. One of the proposals is directed...more

Vinson & Elkins LLP

SEC Charges Investment Advisor with ESG Disclosure Violations in Latest Action by ESG Task Force

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On May 23, 2022, the Securities and Exchange Commission (“SEC”) charged BNY Mellon Investment Adviser, Inc. (“BNYMIA”) for material misstatements and omissions regarding its consideration of Environmental, Social, and...more

Eversheds Sutherland (US) LLP

SEC proposes sweeping new private fund adviser rules and amendment to compliance rule affecting all registered investment advisers

On February 9, 2022, the Securities and Exchange Commission (SEC) proposed far-reaching new rules and rule amendments under the Investment Advisers Act of 1940, as amended (Advisers Act). The rules and amendments would...more

Goodwin

SEC Cybersecurity Rules Target Investment Advisers and Investment Companies

Goodwin on

On February 9, 2022, the U.S. Securities and Exchange Commission (“SEC”) proposed a package of new rules and amendments to enhance cybersecurity preparedness and improve cyber resilience of investment advisers and investment...more

Winstead PC

The Division of Examinations’ Continued Focus on Digital Asset Securities and Implications for Investment Advisers

Winstead PC on

If you are a securities industry participant seeking to engage in digital asset-related activities, it is time to develop and enhance your compliance practices, says a risk alert by the SEC’s Division of Examinations. ...more

Goodwin

Financial Services Weekly Roundup: SEC Proposes Modified Disclosure Framework For Funds

Goodwin on

In the News. The Securities and Exchange Commission (SEC) proposed modifying the disclosure framework for mutual funds and exchange-traded funds (funds), which would create a new layered disclosure regime that attempts to...more

Troutman Pepper Locke

SEC: Improve the Retail Investor Experience through Better Fund Shareholder Reports and Disclosures

Troutman Pepper Locke on

In a substantial August 5, 2020, release (the Proposal), the U.S. Securities and Exchange Commission (SEC) proposed changes to the existing disclosure framework applicable to mutual funds and exchange-traded funds (open-end...more

McDermott Will & Schulte

COVID-19 Considerations for Private Investment Funds

The recent coronavirus pandemic presents significant challenges for private investment fund sponsors. Navigating these challenges requires proactively addressing risks and thoughtfully considering the following issues...more

Morgan Lewis

SEC Provides Relief for Funds and Advisers Impacted by Coronavirus (COVID-19)

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The US Securities and Exchange Commission on March 13 announced temporary regulatory relief for registered investment advisers and exempt reporting advisers as well as for registered funds, registered unit investment trusts,...more

Vedder Price

SEC Issues New Exemptive Order in Response to COVID-19

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On March 13, 2020, the staff of the Securities and Exchange Commission (“SEC”) issued an exemptive order providing relief from certain provisions of the Investment Company Act of 1940, as amended (the “1940 Act”), to...more

Dorsey & Whitney LLP

SEC Takes Targeted Action to Assist Funds and Advisers, Permits Virtual Board Meetings and Provides Conditional Relief from...

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On March 13, 2020, the Securities and Exchange Commission (SEC), indicating that it is closely monitoring the impact of coronavirus on investors, funds and advisers, announced regulatory relief for funds and investment...more

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