News

April 4, 2022

According to the survey, the median cyber budget for firms with AUM over $20 billion was $100-250,000, whereas the median cyber budget for firms with AUM under $1 billion was $10-25,000.

March 31, 2022

The notice regarding CCO liability follows efforts to address concerns regarding increased enforcement actions holding CCOs personally liable.

March 30, 2022

The order alleged that while the adviser advertised its adherence to Shari’ah compliant investing, the firm failed to adopt and implement written policies and procedures reasonably designed to address its Shari’ah advisory decision-making processes and compliance reviews and oversight.

March 29, 2022

The LIBOR Act is the work of a bipartisan group of legislators including Senator Jon Tester (D-MT), Senator Thom Tillis (R-NC), and Representative Brad Sherman (D-CA) working on language to address “tough legacy” contracts as well as other issues surrounding the transition away from LIBOR.

March 28, 2022

The proposal would require public companies to disclose annually potential risks and risk management processes from climate-related events, how any climate-related risks identified have or are likely to have a material impact on its business, as well as disclosure of any climate-related commitments and plans to achieve those targets.

March 24, 2022

The order also notes the importance of mitigating risk in illicit finance and national security posed by digital asset use, as well as the importance of working with the international community to respond to such risks.

March 23, 2022

Lee’s departure leaves two open seats for President Biden to fill at the Commission, former Republican Commissioner Elad Roisman stepped down in December.

March 23, 2022

Join Dechert partners as they highlight mutual fund industry litigation from 2021 and provide a preview of what to expect in regulatory enforcement in 2022. The webinar will broadcast live from 2 pm - 3 pm (ET).

March 21, 2022

Join Sara Yerkey, with Management Practice Inc, and Kelley Howes, Vice Chair of Investment Management at Morrison and Foerster LLP as they provide highlights from the latest MPI Annual Survey of Investment Firm Profitability.

March 17, 2022

Asset managers have cut back on their Russia investments, and some index providers, including MSCI and FTSE Russell, have removed Russian equities and debt, according to Reuters.

March 16, 2022

According to Chairman Gensler the proposal “would specify when and what information about cybersecurity incidents companies must disclose in a current report, such as on Form 8-K. It also would require updates in periodic reports to give investors more complete information on previously disclosed, material cybersecurity incidents.”

March 15, 2022

Members of Congress focused their questions on inflation, interest rates, the implications for the financial system due to the crisis in Ukraine, stable pricing mandate, and cybersecurity preparedness among financial institutions.

March 14, 2022

Birdthistle spoke in support of recent Investment Advisers Act rule proposals that if adopted would “close gaps in information and enhance investor protections in light of industry developments,” specifically noting the Commission’s cybersecurity rule proposal.

March 10, 2022

“Proposed Rule 13f-2 would make aggregate data about large short positions available to the public for individual equity securities,” said SEC Chair Gary Gensler. “This would provide the public and market participants with more visibility into the behavior of large short sellers."

March 9, 2022

Speakers from Dechert will review the SEC’s recent proposed amendments to the money market fund rules and the possible impact on responsibilities for boards overseeing money funds. This webinar will be broadcast live from 2:00 to 3:00 p.m. Eastern time on Thursday, March 10, 2022.

March 8, 2022

The SEC recently charged BlockFi Lending LLC with failing to register the offers and sales of its retail crypto lending product and violating the registration provisions of the 1940 Act.

March 7, 2022

In BlackRock CEO's 2022 letter, net zero initiatives were a major focus along with stakeholder capitalism and BlackRock’s efforts to empower shareholders to vote their own proxies. According to Fink’s letter, “every company and every industry will be transformed by the transition to a net zero world.”

March 3, 2022

In considering the CCO’s compensation, the board has an interest in establishing a compensation structure that is sufficient to attract and retain a highly qualified CCO.

March 2, 2022

Glass Lewis found approximately 74% of the S&P 500 disclosed board racial/ethnic diversity on an individual or aggregate level. “None” was the dominant category in 2020, as companies did not provide this data.

March 1, 2022

According to the complaint, Velissaris executed the overvaluation scheme by altering inputs and manipulating the code of a third-party pricing service used to value the funds’ assets.