Introduction to the Investment Advisers Act of 1940 The Investment Advisers Act of 1940 (the “Act”) regulates investment advisers – firms and individuals who are compensated for advising others about securities investments. The Act requires such advisers to register with the SEC and conform to regulations designed to protect investors. […]
News
The SEC Is Tightening Its Grip on Private Markets — But It May Be Disappointed
The Commission’s proposal to squeeze more information from private equity firms and hedge funds may not yield the “early warning signals” that it’s after. Commentary from Institutional Investor. https://www.institutionalinvestor.com/article/b1wmgg3fjjp33l/The-SEC-Is-Tightening-Its-Grip-on-Private-Markets-But-It-May-Be-Disappointed
Largest South Korean Telecommunications Co. Agrees to Pay the SEC to Settle FCPA Charges
The Securities and Exchange Commission announced that Seoul-based KT Corporation (KT Corp.) will pay $6.3 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA) by providing improper payments for the benefit of government… Read the Full Press Release Have a securities law question? Call New York […]
Infinity Q Founder Charged With Massive Valuation Fraud
Infinity Q charged by the SEC with overvaluing assets by more than $1 billion while pocketing tens of millions of dollars in fees. The SEC’s complaint alleges that, from at least 2017 through February 2021, Velissaris engaged in a fraudulent scheme to overvalue assets held by the Infinity Q Diversified […]
SEC Charges 12 Additional Financial Firms for Failure to Meet Form CRS Obligations
Form CRS Failures can have serious implications. For example, in January 2022 the SEC filed, and settled charges with six investment advisers and six broker-dealers for failing to file and deliver client or customer relationship summaries – known as Form CRS – to their retail investors by the required deadline […]
SEC Proposes to Enhance Private Fund Investor Protection
The Investment Advisers Act of 1940 The Act regulates investment advisers – firms and individuals compensated for advising others about securities investments. The Act requires such advisers to register with the SEC and conform to regulations to protect investors. Since the Act was amended in 1996 and 2010, generally, only […]
Cybersecurity Risk Management Rules and Amendments Proposed for Registered Investment Advisers and Funds
The SEC has proposed cybersecurity risk management rules for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. “Cyber risk relates to each part of the SEC’s three-part mission, and in particular to […]
Kelly L. Gibson, Director of the Philadelphia Regional Office, to Leave the SEC; Scott Thompson and Joy Thompson named Office Acting Co-Heads
The Securities and Exchange Commission today announced that Kelly L. Gibson, Director of the Philadelphia Regional Office, will leave the agency on Feb. 11 after 14 years of service. Joy Thompson and Scott Thompson will replace her as Acting Co-Directors… Read the Full Press Release Have a securities law question? […]
SEC Issues Proposal to Reduce Risks in Clearance and Settlement
The Securities and Exchange Commission today voted to propose rule changes to reduce risks in the clearance and settlement of securities, including by shortening the standard settlement cycle for most broker-dealer transactions in securities from two… Read the Full Press Release Have a securities law question? Call New York Securities […]
SEC Advisory Committee Meeting to Explore Small Business Investment Issues
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee released the agenda for its Thursday, February 10 virtual meeting, which will cover small business investment issues. The Committee, which provides advice and… Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at […]
