CCO (Chief Compliance Officer) Content

On October 10, the SEC adopted final amendments to its rules governing beneficial ownership reporting on Schedules 13D and 13G ("Final Rules"). We are pleased that the Final Rules reflect many of ICI's comments. The Final Rules were approved by the Commission by a 4-1 vote...

On September 25, 2023, the SEC's Division of Enforcement announced charges against a registered investment adviser ("Adviser") for causing mutual funds it advises ("Mutual Funds") to fail to develop and implement a reasonably designed anti-money laundering ("AML") program. The Adviser...

On September 20, the Securities and Exchange Commission ("SEC" or "Commission") adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 ("Names Rule"), as well as associated forms and disclosure requirements. The final amendments passed by a vote of four to one, with...

A shutdown of the federal government could begin if Congress cannot agree on new appropriations beyond September 30, 2023.

On September 11, the SEC's Division of Enforcement announced that it had charged nine investment advisers with violations of Rule 206(4)-1 under the Investment Advisers Act ("Marketing Rule") for "advertising hypothetical performance on their websites without adopting and/or...