Head of Asset Management Unit at SEC Enforcement Shares Hedge Fund...
In a recent speech, Bruce Karpati, Chief of the Asset Management Unit (AMU)within the Division of Enforcement (Division) of the U.S. Securities and Exchange Commission (SEC), discussed his view of the...
View Article2013 Examination Priorities of the U.S. SEC’s Office of Compliance...
The Office of Compliance Inspections and Examinations (“OCIE”) of the Securities Exchange Commission (“SEC”) on February 21, 2013 announced its examination priorities for this year. These highlight...
View ArticleUpcoming Form PF Filing Deadline: April 30
As you are no doubt aware, the next Form PF filing deadline is nearly upon us. For many of you, this means making a Form PF filing on or before April 30, 2013....By: Michael L. Sherman
View ArticleIs the Pendulum Swinging? – SEC Commissioner Gallagher Expresses Concerns...
The role of proxy advisors has continued to attract attention from U.S. regulators and on Capitol Hill. Earlier this month, Commissioner Daniel M. Gallagher of the Securities and Exchange Commission...
View ArticleSEC Approves Final Rules that (1) Permit General Solicitation and General...
The SEC has amended Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 (Securities Act) to (1) permit, in certain circumstances, an issuer to engage in general solicitation and...
View ArticleSEC Division of Investment Management Provides Guidance Regarding the Custody...
The Division of Investment Management (Division) of the U.S. Securities and Exchange Commission (SEC) recently posted an IM Guidance Update that expands the applicability of an exception from the...
View ArticleSEC Proposes Additional Requirements to Regulation D, Form D and Rule 156
The Securities and Exchange Commission (SEC) has proposed a suite of amendments to Regulation D, Form D and Rule 156 under the Securities Act of 1933 (Securities Act) (Proposed Rules). According to the...
View ArticleIt’s Time to Revisit Business Continuity Planning: What Works and What Does...
Recently, the Securities and Exchange Commission (“SEC”) and other U.S. financial regulators (collectively, “Regulators”) issued important guidance related to the need for industry participants to...
View ArticleFinancial Services Quarterly Report - Third Quarter 2013: U.S. Private...
The SEC has amended1 Rule 506 of Regulation D and Rule 144A under the Securities Act of 1933 (“Securities Act”) to (1) permit, in certain circumstances, an issuer to engage in general solicitation and...
View ArticleU.S. SEC’s Office of Compliance Inspections and Examinations Issues Risk...
U.S. SEC’s Office of Compliance Inspections and Examinations Issues Risk Alert on Alternative Investment Due Diligence Practices - The U.S. Securities and Exchange Commission’s Office of Compliance...
View Article2014 Examination Priorities of the U.S. SEC’s Office of Compliance...
The Securities and Exchange Commission (SEC) on January 9, 2014 announced its examination priorities for 2014. The priorities address: (i) market-wide issues, including fraud detection and prevention,...
View ArticleSEC Issues No-Action Letter Expanding Interpretation of the Definition of...
The staff of the Division of Investment Management of the U.S. Securities and Exchange Commission (the “Staff”) has issued a no-action letter in response to a request by the Managed Funds Association...
View ArticleSEC Staff to Conduct Broker-Dealer and Investment Adviser Examinations...
The Securities and Exchange Commission’s (the “SEC” or the “Commission”) Office of Compliance Inspections and Examinations (“OCIE”) announced in an April 15, 2014 Risk Alert (the “Alert”) that it will...
View ArticleSEC Issues Guidance Update on Social Media Commentary in Investment Adviser...
The staff of the Division of Investment Management (Staff) of the Securities and Exchange Commission (SEC) has issued an IM Guidance Update (Guidance Update) on the use of social media in investment...
View ArticleSEC IM Staff Issues Guidance on Proxy Voting Responsibilities of Investment...
The U.S. Securities and Exchange Commission’s (SEC) Divisions of Investment Management (IM) and Corporate Finance (CF) released a staff legal bulletin (Bulletin) on June 30, 2014, covering various...
View ArticleCFTC Issues Exemptive Relief Related to JOBS Act Amendments to Regulation D
The Division of Swap Dealer and Intermediary Oversight (Division) of the U.S. Commodity Futures Trading Commission (CFTC) on September 9, 2014 issued a letter granting exemptive relief from provisions...
View ArticleU.S. Risk Retention Final Rule: Playing it Forward for CLOs
We will leave the hand wringing and teeth gnashing to others. We expect there will be a lot of that in the days ahead. We have had our say on the misguided premises and tortured statutory...
View ArticleCredit Risk Retention Final Rule: Enforcement and Compliance Considerations
Predicting enforcement of the final rule regarding U.S. risk retention is an uncertain task. This OnPoint is designed to provide guidance on possibilities related to consequences of non-compliance,...
View ArticleReminder: Certain U.S. Reporting and Compliance Obligations for Investment...
The U.S. federal securities laws and the rules of U.S. self-regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on...
View ArticleSEC Proposes to Amend Form ADV and Investment Adviser Recordkeeping Rules
The U.S. Securities and Exchange Commission (SEC or Commission) recently proposed amendments to Form ADV and to Rule 204-2 (Recordkeeping Rule) and other rules under the Investment Advisers Act of...
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