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Vedder Thinking | Articles Investment Services Regulatory Update


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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.


John S. Marten


Nathaniel Segal