Searching Content indexed under Securities by Ropes & Gray LLP's Hedge Fund Practice Group ordered by Published Date Descending.
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Separately Managed Accounts – SEC Resolves One "Inadvertent Custody" Ambiguity
On June 5, 2018, the SEC's Division of Investment Management supplemented its Staff Responses to Questions About the Custody Rule to respond to a significant ambiguity in its prior custody guidance ...
United States
14 Jun 2018
Separately Managed Accounts – SEC Provides Guidance On "Inadvertent" Custody And Reliance On Standing Letters Of Authorization
The SEC's Division of Investment Management recently published a three-page Guidance Update, Inadvertent Custody: Advisory Contract Versus Custodial Contract Authority.
United States
6 Apr 2017
SEC Settles With Private Equity Fund Adviser Charged With Acting As An Unregistered Broker
A private equity fund adviser agreed to settle SEC charges that it engaged in broker activity and charged brokerage fees without registration.
United States
8 Jun 2016
Update: Proposed Rules Will Limit Buy-Side Remedies In A Financial Institution Failure
The Board of Governors of the Federal Reserve System (the "Board") has proposed rules (the "Proposed Rules") the-counter derivatives, repurchase agreement and securities lending transactions.
United States
16 May 2016
SEC Proposes Amendments To Form ADV And Recordkeeping Rule
In late May, the Securities and Exchange Commission (the "SEC") proposed rules that would amend portions of Form ADV and rules promulgated under the Investment Adviser Act of 1940 (the "Advisers Act").
United States
2 Jun 2015
SEC Clarifies "Voting Equity Securities" For Purposes Of The Bad Actor Rules
The Securities and Exchange Commission (the "SEC") recently released additional guidance on the definition of "voting equity securities" as applied to the bad actor disqualification rules under Rule 506(d) of the Securities Act of 1933, as amended (the "Securities Act").
United States
18 May 2015
Second Circuit Raises The Bar For Proving Tippee Liability
Wednesday, the U.S. Court of Appeals for the Second Circuit vacated the criminal insider trading convictions of two former hedge fund managers, and in doing so, clarified the elements required to prove an insider trading charge against a "tippee."
United States
15 Dec 2014
SEC Issues Guidance Regarding New General Solicitation Rules
On November 13, 2013, the Division of Corporation Finance of the Securities and Exchange Commission issued new Compliance and Disclosure Interpretations providing guidance regarding new rules allowing for general solicitation in private offerings.
United States
20 Nov 2013
SEC Releases Guidance With Respect To Privately Offered Securities And The Custody Rule
The Division of Investment Management of the U.S. Securities and Exchange Commission has recently released an IM Guidance Update with respect to the custody rule, Rule 206(4)-2 under the Investment Advisers Act of 1940, as amended.
United States
6 Aug 2013
General Solicitation And Other Changes To Regulation D: The Impact On Private Funds
The Securities and Exchange Commission recently adopted an amendment to Rule 506 of Regulation D.
United States
17 Jul 2013
SEC Adviser Examinations Focus On Custody Rule Compliance
The SEC’s Office of Compliance Inspections and Examinations ("OCIE") found that approximately one-third of recent examinations that identified significant deficiencies involved custody-related issues.
United States
10 Mar 2013
The SEC Proposes Rules To Remove Prohibitions On General Solicitation And General Advertising In Certain Regulation D Offerings
The Jumpstart Our Business Startups Act enacted on April 5, 2012 (the "JOBS Act"), directed the SEC to amend Rule 506 of Regulation D.
United States
11 Sep 2012
Update: SEC And CFTC Adopt Final Swap Definitional Rules, Triggering Compliance Dates For Multiple Dodd-Frank Act Rules
Today final rules recently adopted by the SEC and the CFTC defining the terms "swap" and "security-based swap" were published in the Federal Register.
United States
16 Aug 2012
SEC And CFTC Adopt Final Swap Product Definitional Rules, Which Will Trigger Compliance Dates For Multiple Dodd-Frank Act Rules
On July 6 and July 10, the Securities and Exchange Commission (the "SEC") and the Commodity Futures Trading Commission (the "CFTC" and, together with the SEC, the "Commissions"), respectively, adopted final rules defining the terms "swap," "security-based swap," and "security-based swap agreement," governing "mixed swaps," and establishing books and records requirements for "security-based swap agreements."
United States
17 Jul 2012
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