News & Analysis as of

Mutual Funds Securities and Exchange Commission (SEC) Investment

Carlton Fields

SEC Action Builds Pressure for ETFs in Variable Contracts

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On October 31, 2024, the SEC censured a major wirehouse for selling mutual funds to customers when lower-priced exchange-traded fund (ETF) “clones” of those funds were available. The SEC found that when recommending the...more

Carlton Fields

Tontine Takeoff? Old Concept Gets New Wings

Carlton Fields on

“Tontines” are a very old form of investment, and there have been many variations. The basic idea is that the longest surviving investors in tontines will be credited with tontine assets attributable to investors who...more

Carlton Fields

Mutual Funds vs. Collective Investment Fund: Equal Investor Protection on the Horizon?

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For more than a year, SEC Chair Gary Gensler has, in some public forums, been mentioning concerns about gaps in the regulation of collective investment funds (CIFs), as compared to that of registered open-end investment...more

K&L Gates LLP

Stay on Target: FINRA Proposes Rules Permitting Presentation of Performance Projections and Targets

K&L Gates LLP on

The regulation of broker-dealer communications is delegated to the Financial Industry Regulatory Authority, Inc. (FINRA), while investment adviser advertisements are regulated directly by the US Securities and Exchange...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

Seward & Kissel LLP

SEC Settles Charges with Mutual Fund Adviser for ESG Related Violations

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Who may be interested: Registered Investment Companies, Investment Advisers. Quick Take: The SEC recently settled charges with an investment adviser relating to misstatements the Adviser made concerning its procedures...more

Robins Kaplan LLP

Financial Daily Dose 8.31.2020 | Top Story: New Chinese Tech Law Threatens U.S. Bids for TikTok

Robins Kaplan LLP on

Whoever emerges as the victor in the competition for TikTok will have to contend with another complication—this time from China, where on Friday the country “updated its export control rules to cover a variety of technologies...more

Morgan Lewis

2019 Year In Review: Select Sec And FINRA Developments And Enforcement Cases

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The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement and examination developments, and cases...more

Morgan Lewis

Protecting Your Investment: Insights For 2020

Morgan Lewis on

Investors and investment managers around the globe are seeing increasing rules and regulations on how they can deploy their money, how they can advertise their services, and how they have to report to regulators. ...more

Herbert Smith Freehills Kramer

SEC proposes simplification of derivatives rules for closed-end, other funds

The SEC voted to propose a rule designed to enhance the regulation of the use of derivatives by registered investment companies, including closed-end funds, as well as mutual funds, ETFs and business development companies....more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

Google is facing a federal lawsuit in San Francisco over last week’s AP investigation that showed that the search giant “was sill tracking iPhone and Android device users, even if they turned off the ‘Location History’...more

Vedder Price

Investment Services Regulatory Update - February 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues Guidance on Cryptocurrency-related Holdings - On January 18, 2018, the staff of the SEC’s Division of Investment...more

Carlton Fields

SEC Committee Advocates for Summary Mutual Fund Shareholder Reports

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On December 7, the Investor Advisory Committee of the Securities and Exchange Commission (SEC) adopted a recommendation that the SEC seriously explore the development of a summary disclosure document for mutual fund companies...more

Carlton Fields

SEC Adopts T+2 Securities Settlement Cycle

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On March 22, the Securities and Exchange Commission (“Commission”) adopted a rule amendment that shortens the time by which most securities transactions effected by a broker-dealer are required to settle. Under the amendment,...more

Carlton Fields

SEC Curious About Mutual Fund Unicorns

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The Securities and Exchange Commission (SEC) staff has reportedly been asking mutual funds how they value their investments in “unicorns” – i.e., dynamic pre-IPO companies with market capitalization exceeding $1 billion, and...more

Goodwin

Regulatory Update: SEC Adopts New Requirements for Fund Liquidity Risk Management and Amendments to Permit the Use of “Swing...

Goodwin on

On October 13, 2016, the U.S. Securities and Exchange Commission (SEC) unanimously adopted regulatory changes that require open-end funds, including mutual funds and exchange-traded funds (ETFs), to establish liquidity risk...more

K&L Gates LLP

U.S. SEC Proposes Liquidity Risk Management Programs, Optional “Swing Pricing,” and Liquidity Reporting for Mutual Funds and...

K&L Gates LLP on

On September 22, 2015, the Securities and Exchange Commission (“SEC”) proposed a new rule and amendments to rules and reporting forms under the Investment Company Act of 1940 (the “1940 Act”), designed to standardize...more

K&L Gates LLP

SEC Enforcement Actions Against Investment Advisers

K&L Gates LLP on

According to the SEC’s most recent financial report, as of August 2014, SEC-registered investment advisers managed $62.3 trillion in assets. Not surprisingly, investment advisers attract a great deal of attention from the...more

Ballard Spahr LLP

Investment Management Update - October 2015

Ballard Spahr LLP on

Below is a summary of recent investment management developments that affect registered investment companies, private equity funds, hedge funds, investment advisers, and others in the investment management industry. Schwab...more

Troutman Pepper

FinCEN's Recently Proposed AML Rule: A Road Map for SEC-Registered Investment Advisers

Troutman Pepper on

The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (the Proposed Rule) on September 1, 2015 that would impose anti-money laundering (AML) requirements for investment...more

Orrick - Finance 20/20

SEC Proposes Liquidity Management Rules for Mutual Funds and ETFs

Orrick - Finance 20/20 on

On September 22, The Securities and Exchange Commission (SEC) proposed a comprehensive package of rules that would require open-end funds, including mutual funds and exchange-traded funds, to implement liquidity risk...more

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