In this issue

Public Statements, Press Releases and Testimony

• OCIE Issues Risk Alert on Critical Systems Following “WannaCry” Ransomware Attack
• SEC Commissioner Piwowar: SEC Staff Working on Amendments to the “Loan Provision” Concerning Auditor Independence

Litigation and Enforcement Actions

• SEC Settles Charges Against Barclays Capital for Overcharging Advisory Clients
• FINRA Sanctions Cetera for Violations in Connection with Mutual Fund Sales
• SEC Settles Charges Against Calvert for Improper Use of Fund Assets for Marketing, Distribution and Sub-Transfer Agency Services

Legislative Developments

• House Passes the Financial CHOICE Act of 2017: Implications for Mutual Fund Excessive Fee Litigation
• House Passes the Financial CHOICE Act of 2017: Implications for Exemptive Relief Process
• House Passes the Financial CHOICE Act of 2017: Implications for Closed-End Fund Capital Raising and Registration Process

To read the Regulatory Update, click the link below.