Investment Management Regulatory Update - January 2016
Client Newsletter

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SEC Rules and Regulations

  • SEC Staff Issues Report on Definition of “Accredited Investor”
  • SEC Staff Grants No-Action Relief Allowing Use of Rule 486(b) to File Post-Effective Amendments to Closed-End Fund’s Registration Statement
  • SEC Issues Proposed Rule and Concept Release on Transfer Agent Regulations

Industry Update

  • SEC’s National Examination Program Releases Examination Priorities for 2016
  • Division of Investment Management Issues Guidance on Mutual Fund Payment of Sub-Accounting Fees to Financial Intermediaries
  • Certain CPOs and CTAs Must Affirm Exemptions Before February 29, 2016
  • SEC Director Grim Addresses ICI 2015 Securities Law Development Conference


  • SEC Bars Steven A. Cohen from Supervising Hedge Funds for Two Years
  • CFTC, SEC Order JPMorgan’s Wealth Management Businesses to Pay Total of $307 Million for Failure to Disclose Conflicts of Interest
  • Morgan Stanley and SG Americas Settle Charges in “Parking” Scheme
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