Investment Management Regulatory Update - June 2020
Client Newsletter

Created date


COVID-19 Update

  • SEC Extends Relief for Virtual Meetings of Registered Fund Boards

Rules and Regulations

  • SEC’s Division of Investment Management Delivers No-Action Letter to Investment Company Institute and SIFMA AMG
  • CFTC Adopts a Final Rule Limiting Commodity Pool Operator Registration Exemption
  • Final Volcker Rule 2.1 – Covered Funds

Industry Update

  • The SEC Delivers Staff Statement Revoking Prior Staff Letter on Control Share Statutes and Investment Company Act Section 18(i)
  • OCIE Issues Risk Alert on Observations from Examinations of Investment Advisers Managing Private Funds
  • OCIE Examination Initiative: LIBOR Transition Preparedness


  • SEC Settles with Former Investment Adviser—on Remand after Appeal to Supreme Court—for Alleged Materially Misleading “Backtesting”
  • SEC Obtains $30 Million Judgment in Litigation against Investment Adviser and Principal