Robert Sutton

Sep 9, 2024 | jdsupra.com | Joshua M. Newville |Robert Pommer |Robert Sutton

In a significant enforcement action, the SEC sanctioned a private fund manager for failing to establish and maintain adequate policies and procedures to prevent the misuse of material nonpublic information (MNPI) while trading in securities issued by collateralized loan obligation vehicles (CLOs).

Jun 25, 2024 | jdsupra.com | Joshua M. Newville |Robert Pommer |Robert Sutton

On June 14, 2024, the SEC announced an enforcement action settlement with a Pennsylvania-based hedge fund manager for violating the Marketing Rule under the Investment Advisers Act. The SEC found that the adviser had misled investors by advertising a hedge fund’s investment performance based on the investment performance of a single investor in the fund.

May 28, 2024 | jdsupra.com | Leslie Shanklin |Robert Sutton

On May 16, 2024, the U.S. Securities and Exchange Commission (“SEC”) announced the adoption of amendments to Regulation S-P that were proposed last year (“Final Amendments”).[1] The Final Amendments impose enhanced requirements on registered investment advisers, investment companies, broker dealers and transfer agents (“covered firms”) with respect to handling of consumer financial information.

Nov 29, 2023 | jdsupra.com | Benjamin J. Catalano |Robert Sutton

On November 13, 2023, FINRA filed with the SEC a proposal to amendment to Rule 2210 that would create a tailored exception from the general prohibition on projections in marketing materials and other communications with institutional investors, including marketing decks and pitch books for private placements in investment funds and other securities. FINRA Rule 2210(d)(1)(F) currently prohibits any member from including a projected performance in a written communication — retail or institutional.

Sep 15, 2023 | jdsupra.com | Robert Plaze |Robert Sutton

September 15, 2023 To embed, copy and paste the code into your website or blog: Earlier today, the SEC’s Private Fund Adviser Rules were published in the Federal Register. As with all federal regulations, publication in the Federal Register begins the countdown to the Rules’ compliance dates. These dates are listed in the table below.