June 30, 2014

SEC Provides Proxy Voting Guidance

The SEC’s Division of Investment Management issued Staff Legal Bulletin No. 20 which provides guidance about an investment adviser’s responsibilities in voting client proxies and retaining proxy advisory firms. In the bulletin, the SEC staff responds to 13 questions about Rule 206(4)-6 (the proxy voting rule) and the retention of…

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April 2, 2014

SEC Commissioner Aguilar Speaks on Issues Confronting the Mutual Fund Industry

SEC Commissioner Luis Aguilar spoke at a Mutual Funds Directors Forum event in Washington, D.C., about mutual fund industry issues. He began by reviewing the history of the SEC’s regulation of mutual funds. During that discussion, he spoke about recent developments at the SEC including several enforcement actions involving mutual funds.

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February 9, 2011

Seward & Kissel Issues an Alert on Proposed Filing of Form PF by Investment Advisers

Seward & Kissel issued an alert on proposed Rule 204(b)-1 under the Investment Advisers Act of 1940, which would require SEC registered investment advisers that advise one or more "Private Funds" to file new Form PF with the SEC.

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February 9, 2011

Seward & Kissel Issues an Alert on Proposed CPO Rules

Seward & Kissel LLP issued an alert on a proposed series of amendments to CFTC regulations, one of which is to eliminate certain exemptions from registration as a commodity pool operator ("CPO"), currently available to managers of private funds.

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February 4, 2011

SEC Named Mark Cahn General Counsel

Mark D. Cahn has been promoted to General Counsel of the SEC. He will assume his new role when David M. Becker steps down from the position later this month.

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February 2, 2011

ICI Files Comment Letter on Protection of Customer Collateral for Uncleared Swaps

The Investment Company Institute (the “ICI”) has filed a comment letter (the “letter”) on the CFTC’s proposal to: (i) impose requirements on swap dealers (“SDs”) and major swap participants (“MSPs”) with respect to the treatment of collateral posted by their counterparties for uncleared swaps and (ii) amend certain provisions of the CFTC’s Part 190 rules related to securities held in a portfolio margining account that is a futures account, for purposes of the Bankruptcy Code.

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February 1, 2011

SEC General Counsel David Becker to Leave

The SEC announced that General Counsel and Senior Policy Director David M. Becker will leave the SEC at the end of February to return to the private sector.

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January 31, 2011

SEC Begins to Release Monthly Shadow Pricing Information About Money Market Funds

Money market funds’ shadow pricing information is now available on the SEC’s web site.

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January 27, 2011

ICI Files Comment Letter on Proposed Changes to Form ADV and Amendments to Pay-to-Play Rule

The Investment Company Institute (the “ICI”) filed a comment letter addressing the SEC’s proposed changes to Form ADV and amendments to the pay-to-play rules.

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January 27, 2011

SEC Publishes Study on Access to Information About Investment Professionals

The SEC has published a staff study (the “study”) recommending steps to help investors better access information about investment professionals.

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