What to Know For Your Business Transition
Whether it’s transitioning or breaking away, things like legal risks, business factors, and regulatory concerns, must be handled with care. Let our experienced team help.
Whether it’s transitioning or breaking away, things like legal risks, business factors, and regulatory concerns, must be handled with care. Let our experienced team help.
On May 28, 2020, the Securities and Exchange Commission (“SEC”) announced that San Jose-based block chain services firm BitClave PTE Ltd. (“BitClave”) agreed to settle charges related to an unregistered initial coin offering (“ICO”) of digital asset securities.
On May 12, 2020, the Securities and Exchange Commission (“SEC”) announced that Morgan Stanley Smith Barney (“MSSB”) agreed to settle charges that it provided misleading information regarding transaction costs and services to retail clients in its wrap program for the period from 2012 to 2017.
The U.S. Securities and Exchange Commission (“SEC”) recently announced settled charges against two advisers that self-reported conflicts of interest as a part of the Share Class Selection Disclosure Initiative.
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.
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.
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.
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.
The Office of Compliance Inspections and Examinations (OCIE) released a risk alert outlining findings of examinations it conducted as part of its Supervision Initiative…
The Securities and Exchange Commission (“SEC”) announced it had settled charges against State Street Bank and Trust for overbilling mutual funds and other investment company clients by more than $170 million over a 17-year period.