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Vedder Thinking | Articles Investment Services Regulatory Update

Newsletter/Bulletin

Topics include

Litigation and Enforcement Actions

  • Section 36(b) Excessive Fee Litigation UpdateFederal Court Issues Opinion Following Trial in AXA Section 36(b) Excessive Fee Case
  • U.S. District Court Grants Defendant’s Motion to Dismiss in State Farm Excessive Fee Case
  • U.S. District Court Denies Defendant’s Motion to Dismiss in Metropolitan West Excessive Fee Case
  • SEC Settles with Thirteen Investment Advisers for Negligent Reliance on False Performance Claims
  • SEC Settles Charges against Adviser for Failing to Disclose Termination Waiver Arrangement with Sub-Adviser in Connection with a Manager-of-Managers Exemptive Application
  • FINRA Fines UBS Financial Services for Failing to Provide Fund Sales Charge Waivers for Eligible Customers
  • SEC Settles Charges Against Morgan Stanley For Failing To Adopt Written Policies and Procedures Designed to Protect Customer Data

New Rules, Proposed Rules and Guidance

  • SEC Adopts New Disclosure and Recordkeeping Requirements for Advisers
  • 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"

Public Statements, Press Releases and Testimony

  • OCIE Announces Share Class Initiative Focused on Conflicts of Interest

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



John S. Marten

Shareholder



Nathaniel Segal

Counsel