March 30, 2011

SEC Proposes Rule on Incentive Compensation at Investment Advisers

The SEC and other federal financial regulatory agencies jointly proposed a rule designed to ensure that regulated financial institutions, including investment advisers, design their incentive compensation arrangements to take account of risk.

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March 25, 2011

SEC Brings Fraud Charges Against Principal of Investment Adviser

The SEC brought charges against Daniel Sholom Frishberg (“Frishberg”), principal of Daniel Frishberg Financial Services (“DFFS”), an investment adviser registered with the SEC.

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March 18, 2011

SEC Staff Responds to Questions About Part 2 of Form ADV

The SEC staff of the Division of Investment Management has prepared responses to questions about Part 2 of Form ADV, under the Investment Advisers Act of 1940 and expects to update from time to time its responses to additional questions. These responses address inquiries with regards to compliance dates, filing,…

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March 10, 2011

SEC Commissioner Paredes Speaks at Adviser Compliance Conference

SEC Commissioner Troy A. Paredes spoke at the Investment Adviser Association’s 2011 Investment Adviser Compliance Conference.

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March 3, 2011

SEC Re-Opens Comment Period for Security-Based Swap Rule Proposals

The SEC reopened the period for public comment on proposed Regulation MC under the Securities Exchange Act of 1934, which is designed to mitigate potential conflicts of interest at clearing agencies that clear security-based swaps, security-based swap execution facilities (SB SEFs), and national securities exchanges that post or make available for trading security-based swaps (SBS exchanges).

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March 3, 2011

SEC Proposes to Eliminate References to Credit Ratings in Money Market Fund Rules and Regulatory Forms

The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) requires the SEC to review its regulations for any references to or requirements regarding credit ratings that require the use of an assessment of the credit-worthiness of a security or money market instrument, remove these references or requirements and substitute those regulations with other standards of credit-worthiness in place of the credit ratings that the SEC determines to be appropriate.

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March 2, 2011

Incentive-Based Compensation Arrangements Would be Subject to Additional Disclosure Under SEC Proposed Rules

The SEC proposed a rule that would require certain financial institutions to disclose the structure of their incentive-based compensation practices and prohibit such institutions from maintaining compensation arrangements that encourage inappropriate risks (the “proposal”).

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March 2, 2011

California Hedge Fund Adviser Charged with Fraud Involving Side Pockets

The SEC charged a hedge fund adviser with concealing more than $12 million in investment proceeds that he owed investors in the hedge fund he managed.

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