• Posts by Robert D. Conca, Esq.
    Partner

    Robert Conca has over 19 years of experience advising businesses and financial professionals. He has acted both in legal counsel and senior executive capacities for companies spanning all stages of development. From start-ups to ...

SEC Releases Proposed Changes to Form 13F Report Requirements

On July 10, 2020, the U.S. Securities and Exchange Commission (“SEC”) released proposed changes to the rule requiring institutional managers to file Form 13F reports.

The changes include raising the reporting threshold from $100 million to $3.5 billion and eliminating the exclusion of smaller positions from the Form 13F report.

California AG Submits Final CCPA Rules for Approval  

On June 1, 2020, Xavier Becerra, the Attorney General for California, submitted the final package of regulations for the California Consumer Privacy Act (“CCPA”) to the California Office of Administrative Law (“OAL”). For businesses required to comply with the CCPA, the package outlines the requirements for privacy notices, methods for submitting requests to know and delete consumer information, verification of consumers, special rules regarding minors, and non-discrimination.

OCIE Risk Alert—Examinations Focused on Initial Compliance With Regulation Best Interest

As firms work to prepare their updated disclosures and move toward compliance by June 30, 2020 with the new Regulation Best Interest (“Reg BI”), the Securities and Exchange Commission (“SEC”) made two important announcements.  As a reminder, Reg BI establishes a new standard of conduct for broker-dealers and their associated persons when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations) to a retail customer.

Lone Star Value Management Firm and Founder Pay to Settle SEC Disclosure Charges

Lone Star Value Management LLC (“Lone Star”) and its owner Jeffrey Eberwein settled with the Securities and Exchange Commission (“SEC”) over charges that it executed 21 trades without disclosing they were principal trades.

Old, Familiar Fraud Found in New, Innovative Investments

On January 24, 2020, the Securities and Exchange Commission (“SEC”) charged a California-based couple with orchestrating a seven-year, nearly billion-dollar Ponzi scheme involving alternative energy credits through their solar generator companies.

SEC Proposes Updated Definition of Accredited Investor, Qualified Institutional Buyer

The Securities and Exchange Commission (“SEC”) voted to propose amendments to its definition of an “accredited investor,” which, if approved, will allow more investors access to invest in private offering opportunities.

A Costly Failure to Follow Written Policies and Procedures

On November 22, 2019, the Securities and Exchange Commission ("SEC") ordered Channing Capital Management, LLC ("Channing"), a registered investment adviser located in Illinois, to pay a $50,000 civil penalty for failure to enforce its own written policies and procedures. This specific case underscores the importance of following the safeguards you put in place to protect all clients at all times.

SEC Requests Proposals to Innovate Markets for Thinly Traded Securities

The Securities and Exchange Commission (“SEC”) is considering implementation of regulatory changes in order to improve secondary market structures for thinly traded securities. It has announced a request for exchanges, issuers, investors, or other market participants to submit proposals that will facilitate market structure innovations that would meaningfully enhance trading.

Amadeus Wealth Advisors, Three Bridge Wealth Advisors Settle SEC Unlawful Proxy Charges

The Securities and Exchange Commission (“SEC”) has spent time and energy focused on proxy voting matters in the recent months. In August 2019, the SEC provided guidance (discussed below) to assist investment advisers fulfilling their proxy voting responsibilities. It also appears to have increased its attention toward regulatory actions involving proxy voting on behalf of clients. 

SEC: Prudential Failed to Disclose Conflicts of Interest to Fund Boards

The Securities and Exchange Commission ("SEC") has charged two Prudential subsidiaries with a failure to monitor and report conflicts of interest that proved costly to fund shareholders.

Recent Posts

Topics

Archives

Contributors

Jump to Page

This website uses cookies to enhance your browsing experience and improve functionality. By continuing to browse this website, you are accepting our use of cookies in accordance with our privacy policy.