Topics

New Rules, Proposed Rules and Guidance

• CFTC Adopts Rule Amendments to Harmonize Compliance Obligations for Commodity Pool Operators of Registered Investment Companies
• Division of Investment Management Issues Guidance Regarding Certain Disclosure and Compliance Matters for Funds That Invest in Derivatives

Other News

• Independent Directors Council Issues Guidance on Board Composition Considerations
• Independent Directors Council Issues Guidance on Investment Performance Oversight by Fund Boards
• Director of the Division of Investment Management Discusses Division Improvement Initiatives
• SEC's Office of Compliance Inspections and Examinations Issues Risk Alert on Advisers' Business Continuity and Disaster Recovery Planning
• PCAOB Proposes Changes to the Auditor's Reporting Model

Litigation and Enforcement Actions

• SEC Sanctions Three Investment Advisory Firms for Violating Custody Rule
• SEC Sanctions Three Investment Advisory Firms Under Compliance Program Initiative
• Massachusetts Supreme Court Clarifies Annual Shareholder Meeting Requirement
• Complaint Filed Against ING Investments Alleging Excessive Management Fees
• District Court Dismisses Complaint Against BlackRock and iShares for Excessive Securities Lending Fees
• SEC Sanctions Portfolio Manager for Forging Documents and Misleading Chief Compliance Officer
• SEC Charges Investment Adviser for Misleading Fund Board During 15(c) Process

To read the Regulatory Update, click the link below.