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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

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.



Professionals



Nathaniel Segal

Counsel



John S. Marten

Shareholder