You are an issuer, investment adviser, or broker-dealer. You want to communicate to the public about securities. Should you (a) type a letter and drop it in the mailbox; (b) chisel out a prospectus on two stone tablets; or (c) use social media?
Adam D. Kanter
SEC’s Division of Examinations 2021 Exam Priorities – Investment Advisers and Investment Companies
On March 3, 2021, the Division of Examinations of the US Securities and Exchange Commission announced its 2021 examination priorities, which, as in previous years, provide insight into its risk-based approach for the year with respect to the entities it examines. In this Legal Update, we discuss the announced priorities applicable to investment advisers…
SEC Adopts Fund of Funds Arrangements Rule
On October 7, 2020, the US Securities and Exchange Commission (“SEC”) adopted a new rule under the Investment Company Act of 1940 (the “Investment Company Act”) with respect to fund of fund arrangements. New Rule 12d1-4 would permit registered investment companies to invest in other registered investment companies beyond certain statutory limits set forth in…
SEC’s Securities Offering and Communications Reforms for BDCs and Closed-End Funds
This Lexis Practice Advisor: First Analysis article discusses the final rule amendments adapted by the U.S. Securities and Exchange Commission (SEC) that modernize the offering related provisions of the Securities Act of 1933, as amended (the Securities Act), and the communications safe harbors available to business development companies (BDCs) and closed-end funds (CEFs), including interval…
SEC Adopts Securities Offering and Communications Reforms for BDCs and Closed-End Funds
On April 8, 2020, the Securities and Exchange Commission (SEC) voted to adopt final rule amendments that modernize the offering related provisions of the Securities Act of 1933, as amended (the Securities Act), and the communications safe harbors available to business development companies (BDCs) and closed-end funds (CEFs), including interval funds but excluding open-end funds,…
Legal Update: US SEC Staff Publishes Guidance on Annual Shareholder Meetings Related to COVID-19
On March 13, 2020, the staff of the US Securities and Exchange Commission (“SEC”) published guidance to assist investment companies and others affected by COVID-19 with their upcoming annual shareholder meetings.
This Legal Update provides further detail.
Legal Update: Proposed Revisions to Volcker Rule Covered Funds Provisions
On January 30, 2020, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Securities and Exchange Commission, and the Commodity Futures Trading Commission proposed revisions to the covered funds provisions of the Volcker Rule. The proposal is intended to address the…
Lexis Practice Advisor Practice Note – SEC Provides Guidance Relating to the Proxy Voting Process: First Analysis
In this Lexis Practice Advisor Practice Note, we discuss two releases published by the Securities and Exchange Commission (SEC) on August 21, 2019. One release contains interpretation and guidance regarding the applicability of certain rules (Proxy Voting Advice Guidance) promulgated under Section 14 of the Securities Exchange Act of 1934, as amended to…