Topics

New Rules, Proposed Rules and Guidance

• SEC Adopts Rule Amendments to Implement JOBS Act Provisions for the Elimination of Prohibitions Against General Solicitation in Private Offerings
• SEC Adopts Rule Amendments to Disqualify Felons and Other “Bad Actors” from Rule 506 Private Offerings
• SEC Proposes Additional Amendments to Form D, Regulation D and Rule 156 under the Securities Act
• SEC Proposes Money Market Fund Rule Amendments
• Division of Investment Management Issues Guidance Update Regarding Compliance with Exemptive Orders

Other News

• SEC Commissioner Gallagher Discusses the Need for Proxy Advisory Service Reform

Litigation and Enforcement Actions

• Seventh Circuit Seeks Clarification Regarding Insider Trading Prohibitions and Mutual Fund Redemptions
• Second Circuit Affirms Dismissal of Class Action Against ProShares ETFs
• D.C. Circuit Affirms District Court Ruling on Industry Challenges to CFTC Rule 4.5
• Former Mutual Fund Directors Settle Claims That They Failed to Properly Oversee Asset Valuation
• SEC Settles Charges Against Proxy Adviser for Failure to Safeguard Client Information
• SEC Settles Charges Against Trustees and Service Providers of “Turnkey” Investment Company

To read the Regulatory Update, click the link below.