Topics include:

Litigation and Enforcement Actions

• SEC Settles with Investment Adviser over False Performance Claims
• U.S. District Court Grants Defendants' Motion to Dismiss in PIMCO Case Relating to Violation of Investment Policies
• SEC Settles Charges Against Advisory Firms for Failing to Disclose Changes in Investment Strategy of Closed-End Fund
• U.S. District Court Rules on Defendants' Motion to Dismiss in Schwab Case Relating to Violation of Fundamental Investment Policies
• SEC Settles Charges Against Investment Adviser for Failing to Adopt Adequate Cybersecurity Policies and Procedures in Advance of Data Breach
• SEC Settles First Charges Brought under Distribution-in-Guise Initiative

New Rules, Proposed Rules and Guidance

• OCIE Issues Risk Alert Regarding Advisers and Funds that Outsource Their CCOs
• SEC Proposes New Liquidity Risk Management Rules for Mutual Funds and ETFs
• SEC Issues Final Rule for Removal of Certain References to Credit Ratings and Amends the Issuer Diversification Requirement in the Money Market Fund Rule
• OCIE Identifies Focus Areas for Second Round of Cybersecurity Sweep Exams

Other News and Developments

• ICI and IDC Survey Shows Fund Boards Follow Strong Governance Practices

To read the Regulatory Update, click the link below.