SEC Adopts Scaled-Back Hedge, Private Fund Adviser Risk Reporting Rule

The Securities and Exchange Commission Oct. 26 unanimously adopted a rule that will require hedge and other private fund advisers to report information—scaled to the size and types of funds—that will be used by the Financial Stability Oversight Council to assess systemic risk…

SEC Agrees to Issue Concept Release to Seek Views on Funds’ Use of Derivatives

The Securities and Exchange Commission Aug. 31 voted unanimously to issue a concept release soliciting public comments on issues raised by mutual funds, exchange-traded funds, and other investment companies’ use of derivatives…

Mutual Fund Investment Adviser Not Liable For Fund Prospectus’s Alleged Misstatements, Supreme Court Finds

An investment adviser that is a legally separate entity from the mutual fund that files an allegedly misleading prospectus cannot be held primarily liable in a private action under Securities and Exchange Commission Rule 10b-5 for “mak[ing]” a false statement…

OUTLOOK 2011: Tough Times Ahead for SEC Implementation of Dodd-Frank Regulatory Agenda

The Securities and Exchange Commission is facing a challenging year ahead in terms of rulemaking, with a heavy agenda largely set by Congress in the 2010 reform law that includes new, as well as old complex issues that must be tackled under unexpected budget constraints, tighter deadlines, and…

Supreme Court Hears Debate on Holding Investment Adviser Liable as Primary Actor

The U.S. Supreme Court Dec. 7 heard oral argument in a case that is testing the boundaries of primary versus secondary liability under the federal securities laws’ cornerstone antifraud provision while also…

New Financial Stability Oversight Council Seeks Feedback on Asset Managers in Oversight of Nonbank Firms

The Financial Stability Oversight Council has asked for feedback on a long list of factors that might trigger new…

SEC Issues Guidance on Shortcomings in Mutual Funds’ Derivatives Disclosures

Securities and Exchange Commission staff July 30 issued guidance to the Investment Company Institute highlighting various shortcomings…

SEC Proposes Framework for Fund Fees; Approves Adviser Disclosure Form Changes

The Securities and Exchange Commission July 21 unanimously proposed extensive changes to the framework for mutual fund distribution fees that would cap…

SEC Proposes Framework for Fund Fees; Approves Adviser Disclosure Form Changes

The Securities and Exchange Commission July 21 unanimously proposed extensive changes to the framework for mutual fund distribution fees that would cap…

Investors Laud Passage of Senate Bill but Fear Loss of Governance Terms in Merged Measure

Institutional investors and shareholder advocates lauded passage of the Senate financial regulatory reform legislation (S. 3217), saying the bill’s corporate governance provisions bring…

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