Ellen K. Fleishhacker

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Articles

Arnold & Porter Discusses Final FinCEN Rules For Investment Advisers Under Bank Secrecy Act

Sep 27, 2024 | mondaq.com | Veronica E. Callahan |Ellen K. Fleishhacker |Michael Mancusi |Kevin Toomey

On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a final rule to add "investment adviser" to the definition of "financial institution" under the regulations implementing the Bank Secrecy Act (BSA).
SEC Announces 2024 Examination Priorities

Dec 4, 2023 | mondaq.com | Veronica E. Callahan |Ellen K. Fleishhacker |Daniel M. Hawke |Jane Norberg

On October 16, the Division of Examinations (the Division or Exams) at the U.S. Securities and Exchange Commission (SEC) announced its 2024 examination priorities. The Division released these priorities only eight months after releasing its 2023 examination priorities (see our previous Advisory) to align with the start of the SEC's fiscal year and to provide earlier insight to market participants of the areas of focus for the coming year.
Publication Alert: Environmental, Social, Governance: The Professional's Guide To The Law And Practice Of ESG

Oct 30, 2023 | mondaq.com | Ellen K. Fleishhacker |Teresa L. Johnson

A cross-practice team of nearly 50 attorneys at Arnold & Porter has just published a book in partnership with the American Bar Association. Environmental, Social, Governance: The Professional's Guide to the Law and Practice of ESG is the ABA's new comprehensive resource aimed at assisting companies and their legal advisors in effectively managing the complex landscape of ESG issues.
ESG, Whistleblowing, And Compliance Programs: Key Takeaways From A Recent ESG Misstatement Case

Oct 16, 2023 | mondaq.com | Ellen K. Fleishhacker |Arthur Luk |Jane Norberg |Erik Walsh

On September 25, the U.S. Securities and Exchange Commission (SEC) a US$19 million settlement with the investment adviser DWS Investment Management Americas Inc.
SEC Sweep Of RIAs: Market Hypothetical Performance With Due Care

Sep 18, 2023 | mondaq.com | Ellen K. Fleishhacker |Stephen Culhane |Daniel M. Hawke |Jane Norberg

Earlier this week, the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC) announced settled charges against nine registered investment advisers (RIA) for advertising hypothetical fund performance to the general public without properly adopting or implementing policies and procedures "reasonably designed to ensure that the hypothetical performance is relevant to the likely financial situation and investment objectives of the intended audience of the advertisement," as...
SEC Adopts New Rules For Private Fund Advisers - - United States

Aug 29, 2023 | mondaq.com | Ellen K. Fleishhacker |Stephen Culhane |Robert E. Holton |Marina Richter

Earlier this week (August 23, 2023), the Securities and Exchange Commission (SEC) adopted rules that will dramatically expand the compliance and operational obligations of private fund advisers when they come into effect on the dates mentioned below.
SEC Sanctions Insight For Overcharging Management Fees

Jul 13, 2023 | mondaq.com | Stephen Culhane |Ellen K. Fleishhacker |Daniel M. Hawke |Jane Norberg

On June 20, 2023, the U.S. Securities and Exchange Commission (SEC) issued an Order Instituting Proceedings (Order) reflecting a US$2.35 million settlement with Insight Venture Management LLC (Insight), an SEC-registered investment adviser with approximately US$79 billion in regulatory assets under management.1 Like many private fund advisers, Insight has a fee structure that charges management fees on assets held by its fund clients.
SEC Adopts Enhanced Reporting Requirements For Private Funds

May 30, 2023 | mondaq.com | Ellen K. Fleishhacker |Stephen Culhane |Veronica E. Callahan |Meir Lax

On May 3, 2023, the U.S. Securities and Exchange Commission (SEC) approved amendments to Form PF (the Form PF Reporting Amendments), the confidential reporting form required to be filed by certain investment advisers to private funds that are registered or are required to be registered with the SEC. The amendments dramatically modify and expand the reporting requirements for private equity fund advisers and large hedge fund advisers.