November 23, 2021

SEC Proposes Rule to Increase Transparency for Securities Lending Transactions

On November 18, 2021, the SEC published proposed Exchange Act Rule 10c-1 (Rule), which would require any person that loans a security (including investment companies, banks, insurance companies and pension funds) on behalf of itself or another person to report the material terms of those securities lending transactions…

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November 12, 2021

SEC Division of Examinations Issues Risk Alert on Investment Adviser Fee Calculations

On November 10, 2021, the staff (Staff) of the SEC’s Division of Examinations (Division) issued a Risk Alert (Risk Alert or 2021 Risk Alert) based on observations from the Division’s recently concluded national initiative (Initiative) that focused on advisory fees charged by registered investment advisers. The Staff conducted…

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November 11, 2021

SEC Division of Examinations Staff Issues Risk Alert for Advisers that Provide Electronic Investment Advice

On November 9, 2021, the staff of the SEC’s Division of Examinations (Staff) issued a risk alert highlighting common compliance issues that it observed while conducting examinations of advisers that provide automated digital investment advisory services, also known as robo-advisory services (Alert). During each exam,…

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November 8, 2021

SEC Proposes Amendments to Update Electronic Filing Requirements

On November 4, 2021, the SEC published proposed amendments to update electronic filing requirements. The amendments would apply to a variety of issuers, investment advisers, institutional investment managers and others who currently file or submit paper reports to the SEC on EDGAR or the Investment Adviser Registration Depository.

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November 8, 2021

SEC Staff Issues Bulletin Setting Forth Views on Shareholder Proposal Rule; New Approach Expected to Result in More ESG Proposals

On November 3, 2021, the staff of the SEC’s Division of Corporate Finance (Staff) issued a legal bulletin regarding Rule 14a-8 under the Securities Exchange Act of 1934 that rescinds certain prior legal bulletins and issues new guidance related to certain bases for the exclusion…

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