Category: News
Industry Insights: 2024 Industry Snapshot Now Available
The 2024 Investment Adviser Industry Snapshot is here! In this edition: a record high number of SEC registered investment advisers; continued growth in the number of asset management clients and total clients; assets under management rebounded to match the record high set in 2021; and much more.
June 21, 2024
Sweeping Victory for IAA and Investment Advisers in MO Preemption Case
A federal district court in Missouri has handed the IAA and our members a sweeping victory, holding that federal law prevents states from imposing substantive regulation on SEC advisers and their adviser personnel.
August 14, 2024
Tags: ESG, State/Blue Sky
Certain Political Contributions to Harris Campaign Subject to “Pay to Play” Rule
Political contributions to, or fundraising for, the presidential campaign of Kamala Harris by an adviser or its “covered associates” are now potentially subject to the SEC pay to play rule because of the selection of Minnesota Governor Tim Walz as her running mate.
August 07, 2024
IAA Submits Comments on CIP Proposal for Investment Advisers
The IAA has recommended changes to the Treasury Department’s and SEC’s jointly proposed Customer ID Program rule for investment advisers
July 22, 2024
Tags: AML, SEC, Treasury Department
Marketing Rule Toppled by Off-Channel Communications for Top Compliance Concern
Advisers’ concerns of off-channel communications eclipsed the Marketing Rule as the top compliance concern, according to the 2024 Investment Management Compliance Testing Survey published today.
July 17, 2024
Tags: Climate, Compliance Testing Survey, Conflicts of Interest, Cybersecurity, Fees and Expenses, Marketing Rule, Off-Channel Communications, Private Funds, Recordkeeping, Research
Updated SEC Agenda Includes Significant Reproposals
Federal agencies issue Spring Reg Flex rulemaking agendas, including reproposals of several SEC rules.
July 11, 2024
Tags: AML, CFTC, Custody, Cybersecurity, DOL, ESG, Proxy Voting, Regulatory Agendas, SEC Investment Management
FTC’s Non-Compete Ban on Hold: Court Blocks Implementation
A federal court has temporarily blocked a rule that would have prevented most employers from using non-compete agreements with their workers.
July 08, 2024
Tags: FTC, Non-Compete Agreements
IAA Submits Amicus Brief Opposing Improper State Regulation of SEC-Registered Investment Advisers
The IAA has submitted an amicus brief in a lawsuit filed in federal court in Missouri focused on the critically important issue of whether Missouri or other states have the legal authority to impose substantive regulation on SEC-registered investment advisers and their adviser personnel. The IAA’s answer is a resounding “no.”
June 26, 2024
Tags: ESG, State/Blue Sky
Court Vacates Private Fund Adviser Rules, Including Compliance Rule Documentation
The Fifth Circuit Court of Appeals vacated the entire final rule package of the private fund adviser rules (Final Rule). All rules in the package, Private Fund Adviser Audits, Private Fund Quarterly Statements, Private Fund Adviser Restricted Activities, Adviser-Led Secondaries, and Preferential Treatment – are vacated.
June 05, 2024
Tags: Private Equity, Private Funds
How to Get Cooperation Credit in an SEC Enforcement Case
SEC Division of Enforcement Director discusses five principles of effective cooperation in SEC investigations.
June 05, 2024
Tags: SEC Enforcement
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