Compliance Content

Last week, the SEC staff extended indefinitely compliance relief from Exchange Act Rule 15c2-11 (the "rule") for brokers and dealers publishing or submitting quotations for fixed income securities. The prior SEC staff relief—which the 2024 Letter withdraws—would have expired in...

On November 7, the Securities and Exchange Commission adopted conforming amendments that are intended to correct certain errors in the following rules and forms: Rule 482 under the Securities Act of 1933, Forms N-1A, N-2, N-CSR and N-MFP, and Rule 204-2 under the Investment Advisers...

Earlier this month, the Securities and Exchange Commission's Division of Examinations issued a Risk Alert: (i) providing insights into the risk-based selection process it uses to choose which registered investment companies to examine; (ii) highlighting key deficiencies and weaknesses...

On November 7th, the Securities and Exchange Commission's Division of Investment Management Disclosure Review and Accounting Office issued Account and Disclosure Information 2024-141 to address common issues observed in the implementation of the SEC's new requirements for mutual funds...

On November 8, 2024, the SEC instituted public administrative and cease-and-desist proceedings against an asset manager arising from misleading statements concerning the company-wide percentage of assets under management by it and its affiliates that was "ESG integrated," a term that...

On October 28, 2024, the US Department of the Treasury issued a final rule to implement Executive Order 14105 of August 9, 2023, "Addressing United States Investments in Certain National Security Technologies and Products in Countries of Concern."

ICI and ICI Southwest have submitted a comment letter to the Federal Deposit Insurance Corporation on its proposal to amend the agency's existing regulations under the Change in Bank Control Act. This memorandum briefly explains the Proposal and summarizes the letter.

Last month, the Securities and Exchange Commission settled charges with a registered investment adviser for overvaluing certain fixed-income securities, inappropriately cross trading them among affiliated accounts, and related disclosures deemed false and misleading. The adviser...