December 18, 2015

JP Morgan Found to Have Not Disclosed Conflicts When Recommending Its Own Products

The SEC charged two J.P. Morgan wealth management subsidiaries for failing to disclose conflicts of interest to clients. J.P. Morgan has agreed to pay $267 million and admit wrongdoing to settle charges.

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December 16, 2015

SEC Division of Investment Management Director Gives Comprehensive Speech on Initiatives

David Grim, the Director of the SEC’s Division of Investment Management, gave a speech at the Investment Company Institute’s ICI 2015 Securities Law Development Conference in Washington, D.C. on upcoming initiatives.

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December 15, 2015

Fraud Charges Brought Against a Connecticut Adviser

The SEC brought an enforcement action against Atlantic Asset Management LLC (AAM), an investment adviser located in Stamford, Connecticut, for investing client assets in certain bonds that resulted in a hidden financial benefit to a broker-dealer related to the adviser.

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December 11, 2015

SEC Proposes New Derivatives Rules for Registered Funds and Business Development Companies

The Securities and Exchange Commission voted to propose a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds (ETFs) and closed-end funds, as well as business development companies. The proposed rule would limit funds’ use of derivatives and require them to put risk management measures in place which would result in better investor protections.

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December 11, 2015

SEC Proposes Derivatives Rule for Registered Investment Companies

The SEC proposed a new rule designed to regulate the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds (ETFs), closed-end funds, and business development companies. The proposed rule would limit funds’ use of derivatives and require them to put risk management measures in place which would result in better investor protections.

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