Rules and Regulations

  • SEC Staff Grants No-Action Relief Extending Existing Exemptive Relief under Section 15(a) of the Investment Company Act to Affiliated Sub-Advisers
  • SEC Staff Grants No-Action Relief under Sections 13(a)(1) and 34(b) of the Investment Company Act
  • SEC Adopts Amendments to the Auditor Independence Rules
  • Davis Polk Publishes Visual Memorandum Related to Regulation Best Interest and Related Interpretations
  • SEC Staff Grants No-Action Relief Allowing a Business Development Company to Treat a Proposed Merger as a Realization Event under Section 205(b)(3) of the Advisers Act

Industry Update

  • Allison Herren Lee Sworn In as SEC Commissioner
  • SEC Seeks Public Comment on Ways to Harmonize Private Security Offerings
  • OCIE Issues Risk Alert Regarding Compliance Practices for Employees with a History of Disciplinary Events

Litigation

  • SEC Settles with Large Financial Institution for Overcharging its Clients for Out-Of-Pocket Expenses
  • SEC Charges Investment Adviser and Principal with Fraud for Misrepresentations to Clients and Misappropriation of Investor Funds; Issues Fines of $1.3 Million
  • Manhattan Jury Finds Fund Founder, Trader Guilty of Fraud and Conspiracy to Inflate Fund Valuation

If you have any questions regarding the matters covered in this publication, please reach out to any of the lawyers listed below or your usual Davis Polk contact.

This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.

Related materials

Read the full update
Copy link to share post