News & Insights

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July 09, 2015

The CFTC Division of Swap Dealer and Intermediary Oversight issued a no-action letter providing exemptive relief to a CPO of two community pools regarding certain annual reporting requirements. In the letter, the CFTC permitted an extension to the CPO to file the annual report for the pools for the period from October 2, 2014, the date the pools began trading, to December 31, 2015. See: CFTC Letter 15-45.

May 20, 2015

The SEC approved two rulemaking proposals at its open meeting about the modernization of investment company and investment adviser reporting. The proposals pertained to the reporting and disclosure of information. Investment Adviser Act Rule Changes, Including to Form ADV The following aspects of the changes are most relevant to investment advisers: (i) The changes would require an investment adviser to provide additional general information about its business, such as the physical locations where its employees are based, how the firm's CCO is compensated, how the firm uses Web sites and

March 30, 2015

The SEC issued a notice soliciting comments about the extension of information collected from investment advisers under Advisers Act Rule 206(3)-2 ("Agency Cross Transactions for Advisory Clients"). Rule 206(3)-2 applies to all SEC-registered investment advisers, and permits them to comply with Section 206(3) of the Advisers Act by obtaining a client's blanket consent to enter into agency cross-transactions. In relying on the rule, investment advisers must provide certain disclosures to their clients. SEC-registered advisers must maintain and preserve certain information that is required under

January 05, 2015

FINRA issued a Regulatory Notice regarding Final Renewal Statements for broker-dealers and investment adviser firms and representatives, as well as reports that are now available on FINRA's Web CRD/IARD. The Final Renewal Statements include the following fees: Web CRD system processing fees; FINRA branch office processing fees; exchange maintenance fees; state broker-dealer firm, branch and agent renewal fees; state investment adviser firm, branch and investment adviser representative renewal fees; and FINRA annual statutory disqualification fees for registered individuals. FINRA noted that