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Vedder Thinking | Articles Investment Services Regulatory Update


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Topics include

New Rules, Proposed Rules and Guidance

  • Division of Investment Management Issues Guidance Update Concerning Business Continuity Planning for Funds
  • SEC Proposes New Rule and Rule Amendment Requiring Business Continuity and Transition Plans for Advisers
  • SEC Staff Provides Temporary No-Action Relief on Auditor Independence and the "Loan Provision"
  • SEC's Rulemaking List Targets 2017 for Proposed Uniform Fiduciary Standard and Other Notable Proposals
  • FinCEN Adopts Customer Due Diligence Requirements for Covered Financial Institutions, Including Mutual Funds

Public Statements, Press Releases and Testimony

  • SEC Chair Discusses Future Regulatory Initiatives and Emerging Industry Challenges at ICI 2016 General Meeting

Litigation and Enforcement Actions

  • Section 36(b) Excessive Fee Litigation Update—U.S. District Court Grants Defendant's Motion to Dismiss in State Farm Excessive Fee Case
  • Section 36(b) Excessive Fee Litigation Update—U.S. District Court Denies Defendant's Motion to Dismiss in Metropolitan West Excessive Fee Case
  • SEC Settles Charges Against Morgan Stanley For Failing To Adopt Written Policies and Procedures Designed to Protect Customer Data
  • Inadvertent Proxy Voting Instruction Results in Denial of State Law Appraisal Claim
  • FINRA Publishes Targeted Exam Letter for Mutual Fund Waiver Sweep

Other News and Developments

  • Financial Stability Board Issues Policy Recommendations to Address "Structural Vulnerabilities" in Asset Management Industry
  • ICI Issues Memo Regarding the Adequacy of Fund Policies, Procedures and Disclosures in Light of Unanticipated Events Affecting Securities Trading Venues

To read the Regulatory Update, click the link below.


Nathaniel Segal


John S. Marten