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Negligence › Investment Management

Charles E. Rounds, Jr. - Suffolk University...

Individual Trustee Delegates to Financial Institution the Job of Taking Custody and Keeping Track of Income and Principal: The...

Charles E. Rounds, Jr. - Suffolk University... on

While PC software programs are a practical improvement over the trustee’s hard-copy ledger book, when it comes to keeping track of trust income and principal these programs still require serious clerical monitoring on the...more

Lowenstein Sandler LLP

The SEC’s Private Fund Adviser Rules Explained — Part 1: The Restricted Activities Rule

Lowenstein Sandler LLP on

On August 23, 2023, the U.S. Securities and Exchange Commission (SEC) adopted new and amended rules under the Investment Advisers Act of 1940, as amended (the Advisers Act), to address what it perceives as certain conflicts...more

Goodwin

Private Funds Rules Set to Be Adopted - What to Watch For

Goodwin on

The SEC (U.S. Securities and Exchange Commission) has provided notice that it is preparing to adopt the so-called “Private Funds Rules” under the Investment Advisers Act of 1940 (the “Advisers Act”) on August 23, 2023....more

White & Case LLP

UK Supreme Court upholds first successful claim for breach of the "Quincecare" duty financial institutions owe their customers

White & Case LLP on

In Singularis Holdings Ltd (In Official Liquidation) v Daiwa Capital Markets Europe Ltd ([2019] UKSC 50), the Supreme Court upheld the first successful claim in negligence by a customer of a financial institution for breach...more

Hogan Lovells

When does conduct constitute financial advice?

Hogan Lovells on

In Atwealth (Pty) Ltd & Others v Kernick & Others (116/2018) [2019] ZASCA 27 (28 March 2019) the Supreme Court of Appeal (SCA) was called upon to decide, among other issues, what conduct constitutes financial advice and what...more

Broker-Dealer Compliance + Regulation

Double-Check the Math: Advisers Should Not Provide Clients With Performance Data Created by Other Investment Managers Without...

Broker-Dealer Compliance + Regulation on

In a series of enforcement actions this week, the SEC made it clear that investment advisers need to substantiate the performance records of investment management firms they recommend to their clients. In these cases,...more

Robinson+Cole Data Privacy + Security Insider

Scottrade announces data breach affecting 4.6M customers

Robinson+Cole Data Privacy + Security Insider on

Scottrade, a retail brokerage firm, announced late last week that it suffered an intrusion by cyber hackers who stole client contact information of 4.6 million customers. The intrusion occurred between late 2013 and early...more

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