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This legal update summarizes (a) the reporting requirements under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are generally applicable to...
The SEC's Proposal - On March 28, 2022, the SEC released a rulemaking proposal (the "Proposal") for new rules to clarify the meaning of certain terms in the statutory...
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Monday, February 1, 2021 A December 16, 2020 risk alert issued by the SEC’s Office of Compliance Inspections and Examinations (OCIE) cautions investment advisers and broker-dealers to review and, as necessary, enhance their compliance programs with respect to “Large Trader” obligations pursuant to Rule 13h-1 under the Securities Exchange Act of 1934. Compliance with Rule 13h-1 enables the SEC to identify and obtain information on market participants that conduct a substantial amount of trading activity, as measured by volume or market value, in national market system (NMS) sec...
To embed, copy and paste the code into your website or blog: As 2020 finally comes to a close, compliance officers face the unenviable job of performing their compliance program’s annual review under Advisers Act Rule 206(4)-7). An essential element of that review is updating the firm’s compliance policies and procedures to reflect relevant changes to regulations and regulatory guidance. Here’s a cheat sheet for Chief Compliance Officers summarizing the SEC’s big-ticket items from 2020. Despite the massive disruption caused by the COVID-19 pandemic, the SEC didn’t skip a beat, movin...