Topics include

New Rules, Proposed Rules and Guidance

• FinCEN Proposes Anti-Money Laundering Rules for Registered Investment Advisers
• SEC Issues No-Action Letter Permitting a Fund-of-Funds to Invest in Assets that May Not Be Deemed Securities
• Division of Investment Management Issues Guidance on Personal Trade Reporting of Accounts Over Which Access Persons Have No Influence or Control
• SEC Requests Public Comment on the Listing, Trading and Selling of Exchange-Traded Products

Public Statements, Speeches and Testimony

• SEC Commissioners Address Recent Commission Orders Against CCOs

Litigation and Enforcement Actions

• SEC Grants Petition for Review of Dismissal of Charges Against Investment Advisory Firm
• Seventh Circuit Affirms District Court on Remand in Jones v. Harris Associates
• U.S. District Court Denies Motion to Dismiss Excessive Fee Case Against SEI Investments
• FINRA Sanctions Wells Fargo, Raymond James and LPL Financial for Failing to Identify and Apply Mutual Fund Sales Charge Waivers Available for Certain Retirement Accounts and Charitable Organizations
• SEC Settles Charges Against Auditor, Fund Administrator and Trustee In Connection with Auditor-Trustee Relationship
• SEC Settles Charges Against Mutual Fund Board Members, Investment Adviser and Administrator in connection with Advisory Contract Approval and Disclosure Process

Other News and Developments

• Technical Difficulties at BNY Mellon Impact Processing of Net Asset Values
• IRS Identifies Certain Basket Derivatives as Reportable Transactions

To read the Regulatory Update, click the link below.