This is for all main blog posts.
On November 9, 2011, the SEC issued a press release announcing that the SEC filed a total of 735 enforcement actions in its fiscal year ending September 30, the most ever in a single year in SEC history. More than … Read More
As discussed in this previous Compliance Corner post, the SEC recently amended Form ADV Part 1A to incorporate numerous changes to the registration, reporting, and recordkeeping requirements imposed by the Dodd-Frank Act. The IARD system has now been updated to … Read More
On October 26, 2011, the SEC unanimously adopted new Rule 204(b)-1 under the Advisers Act, which requires all SEC-registered investment advisers with at least $150 million in private fund assets under management to report systemic risk information to the SEC … Read More
SEC-registered investment advisers with assets under management between $25 million and $100 million will generally be required to transition to state registration under the Dodd-Frank Act. Using information obtained from IARD, the California Department of Corporations issued a notice to … Read More
On September 15th, Rep. McCarthy (R-CA) introduced HR 2940, the Access to Capital for Job Creators Act which, if passed, would remove the prohibition on general solicitation under Rule 506 of Regulation D. The bill is designed to increase the … Read More
As discussed in this prior post, the final deadline for previously exempt advisers (including advisers to hedge funds and private equity funds) to become registered with the SEC is March 30, 2012. The SEC is already showing signs that it … Read More
President Obama recently announced a proposal to characterize income attributable to an investment manager’s carried interest (also referred to as an incentive allocation or performance fee) as ordinary income. The proposed re-characterization of carried interest income is part of the … Read More
Arizona recently added a new documentation requirement for investment adviser representatives doing business in that state. Pursuant to Section 41-1080 of the Arizona Revised Statutes, Investment Adviser Representatives (IARs) must show they are U.S. citizens or in the United States … Read More
On August 12, 2011, the SEC’s new whistleblower incentive program took effect. The program is designed to reward individuals who voluntarily provide the SEC with original information relating to possible violations of the securities laws that lead to a successful … Read More
Last week, the Massachusetts Securities Division (the “Division”) adopted new regulations for investment advisers doing business within the State. This included legislation relating to the use of expert network firms and other paid consultants, limitations on investment advisers from receiving … Read More