An investment adviser for private funds settled charges with the SEC for breach of fiduciary duty related to undisclosed account fees, transfers and accessibility.
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Multiple trade associations urged the SEC to withdraw its proposal requiring broker-dealers and investment advisers to eliminate or neutralize conflicts of interest associated with the use of predicative data analytic technologies.
The SEC set an effective date of November 13, 2023 and outlined compliance dates for significant new regulation of private fund advisers under the Advisers Act.
Twenty-six trade associations banded together to urge the SEC not to adopt a proposed amendment to the "custody rule" because it would make "fundamental changes" to an already "well-established and demonstrably effective custody framework without a clear policy rationale."
The SEC charged an alternative investment platform for misleading investors by failing to disclose "critical information" in an asset-backed securities offering.