Vedder Price

Vedder Thinking | Articles Investment Services Regulatory Update


Reader View

Topics include

New Rules, Proposed Rules and Guidance

  • SEC Approves Adoption of Generic Listing Standards for Actively Managed ETFs
  • 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"
  • FinCEN Adopts Customer Due Diligence Requirements for Covered Financial Institutions, Including Mutual Funds

Public Statements, Press Releases and Testimony

  • OCIE Announces Share Class Initiative Focused on Conflicts of Interest
  • 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

To read the Regulatory Update, click the link below.


Nathaniel Segal


John S. Marten