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Investment Advisers Act of 1940 Summary Judgment

Foley & Lardner LLP

First Circuit’s Reversal of Summary Judgment Clarifies Materiality Standard for Advisory Conflicts

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A recent ruling may raise the bar for the Securities and Exchange Commission (SEC) in charging registered investment advisers for omissions of potential conflicts and seeking disgorgement, giving the defense bar additional...more

Venable LLP

SEC Must Return $93 Million Penalty, First Circuit Says

Venable LLP on

The First Circuit, in a closely watched securities case, reversed a $93 million summary judgment ruling for the Securities and Exchange Commission this April. ...more

Troutman Pepper Locke

First Circuit Questions Materiality in SEC's Case Against Commonwealth Equity Services

Troutman Pepper Locke on

On April 1, the U.S. Court of Appeals for the First Circuit vacated a summary judgment ruling in favor of the Securities and Exchange Commission (SEC) against Commonwealth Equity Services, LLC, also known as Commonwealth...more

Morgan Lewis

First Circuit Vacates $93 Million Judgment for SEC, Including $65 Million Disgorgement Award

Morgan Lewis on

On April 1, the US Circuit Court of Appeals for the First Circuit vacated a $93 million judgment for the SEC against Commonwealth Financial, including a $65 million disgorgement award. The three-judge panel concluded that the...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - August 2020

This quarter’s issue includes summaries and associated court opinions of selected cases principally decided between February and June 2020....more

Vedder Price

Investment Services Regulatory Update - November 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS – OCIE Announces Risk-Based Sweep Exam of Funds, ETFs and Advisers - On November 8, 2018, the SEC’s Office of Compliance Inspections and...more

Foley & Lardner LLP

A Compilation of Non-Enforcement and Enforcement Actions

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Non-Enforcement - Mutual Fund Directors Must Be Vigilant in Addressing Risks - In remarks to the Mutual Fund Directors Forum, SEC Chair Mary Jo White outlined some of the risks and challenges that mutual fund...more

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