SEC Investor Advisory Committee Approves Fiduciary, User-Fee Plans
Recommendation on how brokers should be put under a fiduciary mandate sailed through the full committee Friday, but members voiced concern about user-fee plan.
SEC Issues 2 Guidance Updates
At issue: Whether a fund advisor can dodge the Investment Company Act by forgoing pay and whether closed-end funds can email certain data to shareholders.
Staying Compliant With the SEC’s Anti-Testimonial Rule
The Investment Advisers Act of 1940 explicitly prohibits client testimonials. What does that mean in 2013?
Making Sense of Form 13F
The form is already too often misunderstood — and now, a new format!
Bullard’s Blistering Critique of House Fiduciary Plan Offers Way Forward
A congressional hearing in late May showcased the latest arguments against SEC fiduciary rulemaking.
Do You Really Need to File That Social Media Post With FINRA?
The SEC has released guidance clarifying which social media posts investment companies must file with FINRA.
The IAA Compliance Conference, Pt. 1: What to Expect From Your Friends in DC
At the Investment Adviser Association’s annual compliance conference, a look at the significant legislative, regulatory and policy developments now being pursued and what’s coming next, especially from the SEC.
SEC’s Champ Outlines ‘IM Moving Ahead’ Initiative
The director of the SEC's Division of Investment Management said Friday that his division had launched an “IM Moving Ahead” initiative to assess where the division had “gaps” and to help the division identify its policy priorities.
SEC Will Pursue Fiduciary Rule in 2013
The agency’s just-released 2012 Financial Report states that it will move forward with its uniform fiduciary standard rule as well as “continue to assess” ways to better harmonize advisor and BD rules.
SEC Says 1,504 Advisors to Hedge Funds, Private Funds Now SEC-Registered
Including the 2,557 private fund advisors who had registered previously, a total of 4,061 advisors to one or more private funds are now registered with the SEC.