William A. Birdthistle, a professor at the Chicago-Kent College of Law, was appointed to lead the SEC Division of Investment Management.

A private equity fund adviser settled SEC charges for (i) improperly offsetting portfolio company fees against management fees charged to clients and (ii) failing to clarify management fee calculations to clients.

An investment adviser settled SEC charges for breaches of fiduciary duty arising from an affiliated broker's receipt of compensation on advisory client investments.

The DOJ and SEC charged five Russian nationals for their involvement in a multi-year, global scheme that included (i) hacking into the systems of two U.S.-based filing agent companies, (ii) stealing nonpublic information, such as corporate earnings reports, and (iii) trading based on this material, nonpublic information.

The SEC Division of Corporation Finance granted conditional no-action relief to an exchange-traded fund from requirements "prohibiting purchases outside of a tender offer."