SEC Appoints New Director of Enforcement, Gurbir S. Grewal WHAT HAPPENED? On June 29, 2021, the SEC issued a press release announcing the appointment of New Jersey Attorney General, Gurbir S. Grewal, as the Commission’s new Director of Enforcement. The announcement follows the appointment and sudden departure of Alex [...]
Inaccurate Performance Information Leads to SEC Charges WHAT HAPPENED? The SEC recently settled with a registered investment adviser that posted false statements and misleading performance data on its public website. The adviser also had referral relationships with bloggers but did not make required investor disclosures about these connections. The [...]
5 Proposed Rules from the SEC That Could Affect Your Firm WHAT HAPPENED? The SEC released its latest regulatory agenda, which outlines the commission’s pending rules and regulations. Under the direction of Chairman Gensler and a new slate of SEC leadership, the priorities of the commission focus heavily on [...]
ESG Disclosure and Materiality Reminders for RIAs WHAT HAPPENED? Climate and environmental, social, and governance (ESG) topics continue to gain prevalence in capital markets, especially when it comes to evolving regulatory expectations. As new disclosure protocols are finalized and existing ESG guidelines become more prominent, questions remain in some [...]
The SEC’s Bitcoin Futures Warning WHAT HAPPENED? Last week, the SEC released a statement pertaining to funds investing in Bitcoin futures. Market participants have pushed for cryptocurrency ETFs in recent years, with no sign the SEC will approve these products in the near future. Instead, the Commission continues to [...]
Adviser Facing Jury Trial for Securities Laws Violations WHAT HAPPENED? An exempt reporting adviser (“ERA”) and related private fund were recently investigated by the SEC for a variety of securities laws violations, including misappropriation of funds, making material misstatements, and failing to disclose conflicts of interest, among other infractions. [...]
SEC Director of Enforcement Resigns After One Week – What Now? WHAT HAPPENED? Last month, the SEC announced Chairman Gary Gensler appointed Alex Oh to be Director of the Division of Enforcement. Just days later, Oh resigned from her position, the SEC initially citing “personal reasons” as the cause [...]
SPACs: What the SEC Wants You to Know WHAT HAPPENED? Special-purpose acquisition companies, or SPACs, have recently surged in popularity and the SEC is paying attention. These vehicles are used to help private companies go public via a merger, or “de-SPAC,” and carry unique compliance risks. In past decades, [...]
No Need to Report Certain Home Offices on Form ADV WHAT HAPPENED? The U.S. Securities and Exchange Commission released an FAQ statement clarifying there is no need to report a remote home office on Form ADV if the remote office is part of a firm’s pandemic response and business [...]
Key Takeaways from the SEC’s ESG Risk Alert WHAT HAPPENED? Recently, the U.S. Securities and Exchange Commission released a Risk Alert outlining specific compliance concerns associated with environmental, social, and governance (ESG) investing. With these investment products increasing in popularity across capital markets, the SEC is expanding efforts to [...]