All posts by BDIA Editors

Compliance, Enforcement, International, Regulatory, Standard of Care

Celebrating the SEC at 90!

August 24, 2024 BDIA Editors Leave a comment

Good people, important problems and workable laws – celebrating the SEC at 90!

On July 17, PLI hosted The SEC at 90: A Celebration and Retrospective in our New York Conference Center. The program, chaired by longtime Securities faculty Clifford Kirsch, featured SEC Commissioner Hester Peirce, author Diana Henriques (Taming the Street and The Wizard of Lies), former SEC Commissioners Robert J. Jackson, Jr. and Troy Paredes, and other expert panelists. Speakers discussed the SEC’s formation, challenges it faces, opportunities in the next 90 years and beyond, and where SEC practice has been, is, and will be.

Compliance, Enforcement, Regulatory, Standard of Care

Costly 13F Filing Violations, ChatGPT Policy Considerations, Insight Into New Fiduciary Rule Proposal: Lessons Learned & Worth Reading for March 2023

March 23, 2023 BDIA Editors Leave a comment

ACA Group’s Lessons Learned and thought leadership:

Failure to Follow the Rules Can Be Costly
“Does Your Company Need a ChatGPT Policy? Probably”. Chat GPT is a certainly a hot topic. The New York University School of Law’s Program on Corporate Compliance and Enforcements raises thoughtful considerations.
Communicating with the SEC When Your Organization Suffers a Cybersecurity Incident. MoFo (Morrison Foerster) provides some tips about when to proactively report hacking incidents to the SEC.
NYDFS Issues Guidance on Virtual Currency Custody Practices. For those following the evolving virtual currency custody environment, Dechert’s Financial Services Group recently addressed the New York Department of Financial Services’ (NYDFS) guidance.
The DOL’s New Fiduciary Rule: What We Can Expect. Fred Reish and Joan M. Neri of Faegre Drinker weigh in on the DOL’s anticipated new fiduciary rule proposal.

Additional thought leadership and Insights can be found here.

Compliance, Enforcement, International, Regulatory, Standard of Care

ESG and Asset Managers. . .

March 21, 2023 BDIA Editors Leave a comment

A major focus of asset managers continues to be environmental, social and governance (ESG) factors. In response to investor and regulatory demands, ESG considerations and related-disclosures figure more prominently in investment strategies and investment vehicles. To help you make sense of it all attend ESG Considerations for Asset Managers.

Compliance, Enforcement, Regulatory, Standard of Care

SEC’s Division of Examinations 2023 Priorities

February 9, 2023 BDIA Editors Leave a comment

The SEC’s Division of Examinations recently released its Examinations Priorities 2023 report. In fiscal year 2022, they examined approximately 15% of the registered investment adviser population, and over 360 broker-dealers examinations, and, together with FINRA, they examined nearly half of the approximately 3,500 registered broker-dealers in fiscal year 2022. They continue to focus on their “four pillars”: (1) promote compliance; (2) prevent fraud; (3) monitor risk; and (4) inform policy.

ACA’s take on the priorities can be found here.

Compliance, Enforcement, Regulatory, Standard of Care

SEC’s IM Division announces it will allow Oct. 26, 2017 SIFMA no-action letter to expire on July 3, 2023

July 28, 2022 BDIA Editors Leave a comment

From Morgan Lewis’ LawFlash, the SEC’s division of Investment Management’s announcement that it would allow its October 26, 2017 no-action letter to SIFMA to expire on July 23, 2023 “pulls the rug out from under ‘Hard Dollar’ research arrangements,” and raises questions about the possible investment adviser status of broker-dealers that, after that date, accept cash or “hard dollar” payments for research from investment managers subject to the EU Markets in Financial Instruments Directive II.