As part of its "Fiscal Year 2013 Agency Financial Report" released by the Securities and Exchange Commission ("SEC") on December 17, 2013, the SEC discussed how the agency's new and "more aggressive enforcement actions" fared in 2013. According to the...
The Securities and Exchange Commission (“SEC”) recently ordered a cease-and-desist against hedge fund adviser Agamas Capital Management, LP (“Agamas”). The SEC alleged, among other things, that Agamas failed to adopt and implement written compliance policies and procedures as required by...
On November 22, 2013, the Commissioner of Business Oversight (“Commissioner”) and the California Department of Business Oversight (“DBO”) issued an order affecting all broker dealers and investment advisers (and any other businesses engaged in financial transactions) which are licensed to...
As the year comes to a close, it is essential for firms to consider end-of-the-year training programs, both now and throughout 2014. The Securities Industry/Regulatory Council on Continuing Education (the "Council") recently published their Firm Element Advisory ("FEA") release...
As a continuation of last week’s entry, this blog focuses on other considerations for general solicitation under Rule 506(d) of Regulation D, including the condition that the issuer takes reasonable care to verify that each person involved in the...
This September, the Securities and Exchange Commission (“SEC”) modified Regulation D and created new Rule 506(c), allowing general solicitation and advertising by issuers of private funds pursuant to certain conditions. These conditions require, among other things, that issuers relying on...
Last month, the Securities and Exchange Commission’s (“SEC”) Chairwoman Mary Jo White caused a stir within the advisory industry when she issued a speech stating that the SEC will begin zeroing in on “minor infractions” of investment advisers. This past...
In April 2010, the State of Maryland became the first U.S. state to pass “Benefit Corporation” legislation, thus permitting the formation of a new type of corporate entity structure in that state. Since that time, several other states – including...
- Investment Adviser Wearing Multiple Hats Charged by SEC for Defrauding Clients
- Charging Fees for Inactive Accounts can be as Problematic as Churning
- SEC: Prudential Failed to Disclose Conflicts of Interest to Fund Boards
- SEC Charges Investment Bank Junior Analyst with Insider Trading
- SEC Files Charges in Fraudulent Token Manipulation Scheme
- OCIE Risk Alert: Guidance for Compliance, Supervisory and Disclosure Procedures
- Jury Returns Verdict for SEC in Case Against Broker Charged with Fraudulent Excessive Trading
- SEC Charges Investment Advisor with Defrauding Clients by Failure to Disclose Conflicts of Interest
- Charging Clients Fees Not Disclosed in Form ADV: State Street Settles with SEC for $88 Million
- The CFP's Revised Code of Ethics and Standards of Conduct Takes Effect
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