OCIE Observations: Investment Adviser Compliance Programs

Steve KingLegal Insights

investment adviser reviewing paperwork

Authored By Financial Services Attorney, Steve King On November 19, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert containing an overview of notable compliance issues relating to Rule 206(4)-7 (Compliance Rule) under the Investment Advisers Act of 1940 (Advisers Act).1  The issues reflected in the Risk Alert were identified from a … Read More

Andrea Shaw on Addressing Cybercrimes | NASDAQ Trade Talks Part 2

Practus LLPLegal Insights

User addressing cybercrime with lock around phone and devices

Andrea Shaw Discuss How to Address Cybercrimes for Businesses Learn what cybercrimes businesses face and what to do if you are a victim. Practus Partner, Andrea Shaw sits down with NASDAQ Trade Talks Global Markets Reporter, Jill Malandrino in the second part of a two-part interview.  This video dives into prevention tactics small and medium sized businesses (SMBs) can take … Read More

Andrea Shaw on SMB Cybersecurity | NASDAQ Trade Talks Part 1

Practus LLPLegal Insights

smb cybersecurity on screen

Andrea Shaw Explains SMB Cybersecurity Risks Cybercrimes impact SMBs everyday. What are they and how do you prevent them? Practus Partner, Andrea Shaw talks about small and medium sized business (SMB) cybersecurity with NASDAQ Trade Talks Global Markets Reporter, Jill Malandrino.  Andrea discusses the latest challenges of addressing cybercrime for small and medium sized businesses with helpful tips to stay … Read More

OCIE Observations from Examinations of Investment Advisers with Multiple Branch Offices

Steve KingLegal Insights

Corporate branch office modern work building

Authored By Financial Services Partner, Steve King OCIE Observes Supervisory Deficiencies At Branch Offices On November 9, 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert containing observations from a series of examinations focused on SEC-registered investment advisers operating with numerous branch offices and with operations geographically dispersed from the adviser’s principal … Read More

Department of Labor Issues Final Rule on Fiduciary Duties

Rick PasquierLegal Insights

acks of paper in binders

Key Provisions Will Add Burdens to Fiduciaries Considering ESG Investments Authored By: Richard Pasquier On November 13, the US Department of Labor (DOL) published a release (the “Release”) setting out its final rule on fiduciary standards as they affect environmental, social and governance (ESG) investing strategies.  The final rules discourage use of so-called “non-pecuniary” factors by fiduciaries, posing a challenge … Read More

Medicare & Medicaid Law and RAC Report Recap | Knicole Emanuel

Practus LLPLegal Insights

healthcare doctor holding phone in hand

An October Roundup of Monitor Mondays: Medicare & Medicaid Law Updates Healthcare industry expert and Practus Partner, Knicole Emanuel, is a weekly panelist to the healthcare podcast, Monitor Mondays by RACmonitor. This includes RAC Report podcast summaries in October pertaining to the Centers for Medicare & Medicaid Services (CMS), COVID-19, as well as additional improvements, warnings and recommendations to be … Read More

Q&A: SEC Modernizes Fund Derivatives Rule 18f-4

Practus LLPLegal Insights

magnifier frequently asked questions (Q&A)

SEC Adopts Fund Derivatives Rule – Questions & Answers On October 28, 2020, the US Securities and Exchange Commission (SEC) adopted Rule 18f-4 under the Investment Company Act of 1940 (1940 Act).  The SEC also adopted amendments to its new exchange-traded fund (ETF) rule and to several 1940 Act reporting forms. 1. What types of investment companies does Rule 18f-4 … Read More

SEC Modernizes Requirements for Funds’ Use of Derivatives and Other Transactions

Practus LLPLegal Insights

SEC adopts new derivatives rule 18f-4

SEC Adopts New Fund Derivatives Rule 18f-4 Under the 1940 Act Authored by: Ken Earley, Steve King, Ethan Corey, John Lively, John Grady  On October 28, 2020, a divided Securities and Exchange Commission (SEC) adopted a new rule, and related rule and form amendments, designed to provide a modernized, comprehensive approach to the regulation of the use of derivatives and other financial transactions … Read More

SEC Adopts Fund of Funds Rule 12d1-4 | Ethan Corey

Ethan CoreyLegal Insights

glasses on legal pad

Authored by Ethan Corey “I have found the PROBLEM to the SOLUTION.” ― Amit Abraham On October 7, 2020, the Securities and Exchange Commission (SEC) adopted new Rule 12d1-4 under the Investment Company Act of 1940 (1940 Act).  The new Rule will generally tighten the regulatory framework applicable to funds that invest in other funds (fund of funds arrangements).1  At … Read More

Designing a Non-US Investor’s US Loan Investment Program

Practus LLPLegal Insights

growth chart over image of city

Authored By Todd Anderson, Practus Tax Attorney & Partner Non-US Investors Have Been Subject to Adverse Tax Consequences Sophisticated Non-US investors frequently utilize intricate strategies when acquiring newly originated US loans in order to preserve their anonymity with the US Internal Revenue Service and avoid US federal income tax liability, among other business reasons. These strategies include:  Season and Sell; … Read More