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Transparency Fiduciary Duty Securities and Exchange Commission (SEC)

Ropes & Gray LLP

SEC Speaks 2025: Key Takeaways from Division of Enforcement Panels

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The SEC’s Division of Enforcement intends to remain a “cop on the beat,” and will refocus on traditional core enforcement areas, such as insider trading, accounting and disclosure fraud, market manipulation, and breaches of...more

Sullivan & Worcester

Are the SEC’s Private Fund Advisers Rules Now Dead? No, but they are on Life Support

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The U.S. Court of Appeals for the Fifth Circuit (the “Fifth Circuit”) has thrown a wrench into the gears of the U.S. Securities and Exchange Commission (the “SEC”) in its attempt to regulate those investment advisers that...more

Stark & Stark

Bitcoin for Investment Advisers - Integrating Bitcoin into Client Portfolios

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The SEC approved eleven spot Bitcoin ETFs on January 10, 2024. As a result, investment advisers may be curious about whether or how to integrate Bitcoin ETFs into client portfolios. This blog is intended to provide an update...more

Harris Beach Murtha PLLC

SEC Examination Priorities for 2024

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The United States Securities and Exchange Commission’s Division of Examinations announced its examination priorities for fiscal year 2024 on October 16, 2023. The timing of the announcement is significant because it is the...more

Jackson Walker

SEC Adopts Sweeping New Private Fund Adviser Rules

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On August 23, 2023, the U.S. Securities and Exchange Commission (“SEC”), by a party-line vote of 3-2, adopted new rules applicable to investment advisers to private funds (“Private Fund Advisers”) that address transparency,...more

DarrowEverett LLP

Proposed SEC Rules Aim at Putting Private Funds More in Public View

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Whether everyday Americans saving for retirement, college tuition, or their forever homes know it or not, there’s a chance that their money is tied, directly or indirectly, to private funds. Moreover, those Americans probably...more

Holland & Hart LLP

Proposed Reforms to Private Fund Adviser Regulation

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On February 9, 2022, the US Securities and Exchange Commission (the “SEC”) proposed changes to the rules governing advisers to private funds. If adopted, the rules would constitute a sweeping change to the regulatory...more

Vinson & Elkins LLP

SEC Proposes New Rule on Investment Advisors’ Disclosures and Compliance

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The Securities and Exchange Commission’s (the “SEC”) escalating focus on investment advisor compliance is continuing into 2022. In 2021, the SEC brought 159 enforcement actions against investment advisors or investment...more

Foley & Lardner LLP

Private Equity and Hedge Funds Should Expect More SEC Scrutiny Ahead

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Last week, SEC Chair Gary Gensler gave the keynote speech for the 2021 Institutional Limited Partners Association’s virtual summit. Gensler focused his remarks exclusively on private funds and detailed his view that private...more

Troutman Pepper Locke

Rights And Risks In The Age Of Transparency

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In its examinations of investment managers over the past decade, the SEC has consistently focused intensely on conflicts, disclosures and fiduciary duties. Originally published in The Legal Supplement: Expert Commentary -...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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