Investment Advisers Content

On August 25, 2023, the SEC's Division of Enforcement announced that it had settled a case brought against two affiliated dually registered broker-dealers and investment advisers ("Respondents") for violating the anti-fraud provisions of the Investment Advisers Act (the "Act") by...

On September 28, 2023, ICI submitted a letter regarding proposed amendments to the Wyoming Secretary of State's Securities Rules that would "require disclosure of Environmental, Social, and Governance ('ESG') investment strategies by requiring investment advisers [and their...

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...

In its August 24, 2023 decision, a three-judge panel of the United States Circuit Court of Appeals for the Second Circuit held in Kirschner v. JP Morgan that notes issued as part of a syndicated term loan transaction ("Notes") were not securities. In doing so, the court applied the...

The SEC recently issued its Safeguarding Advisory Client Assets Proposal (Proposal), which would expand the scope of the current Investment Advisers Act custody rule (Rule 206(4)-2) and impose significant new requirements on qualified custodians and investment advisers that have...

On September 11, 2023, ICI, along with 13 other trade associations, filed a letter with the Securities and Exchange Commission (SEC or "Commission") raising serious concerns regarding the Commission's recent proposal on conflicts of interest associated with the use of predictive data...