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On August 23, 2023, a divided SEC voted to adopt enhanced regulations of private fund advisers. These included two rules that all investment advisers managing private funds must follow: the Preferential Treatment Rule and the Restricted Activities Rule.
Read MoreThe SEC ordered a trial by jury to be held for alleged claims against two investment adviser representatives on charges of fraudulent and misleading use of their client’s funds while working for a large, well-known Financial institution in Massachusetts.
The SEC charged a stock trader with generating over $1 million in illegal insider trading profits. Defendant collaborated with four former colleagues, posing as portfolio managers, to persuade investment bankers to share nonpublic information regarding upcoming secondary offerings.