The U.S. District Court for the District of Massachusetts found an investment adviser liable for failing to disclose to its advisory clients material conflicts of interest with respect to a revenue sharing.
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A U.S. District Court held that compliance communications are not protected by attorney-client privilege or the work-product doctrine, and that the SEC can force an investment advisor to produce documentation of such communications.
A three-judge panel of the Fifth Circuit Court of Appeals vacated the DOL fiduciary rule, confirming a March 2018 ruling.
A three-judge panel of the Fifth Circuit Court of Appeals issued a ruling vacating the Department of Labor fiduciary rule.
A divided federal appeals court upheld the conviction of a former hedge fund portfolio manager for insider trading related to confidential information received from doctors who worked on a clinical trial for an experimental Alzheimer's drug.