Over the last several months, there has been an increase in questions from registered investment advisers relating to using hypothetical performance information. Generally, the use of such information is fraught
Continue Reading Investment Advisers Using Hypothetical Performance Numbers– an Obvious ‘No-No’
Ever wonder what it’s like to argue in front of the Supremes? Fox partner Ernest E. Badway will moderate a forum with two Supreme Court advocates – Robert G. Heim
Continue Reading The Supremes, the SEC and Me: Arguing Before the U.S. Supreme Court
A chief compliance officer (“CCO”) for a registered investment adviser (“RIA”) found himself barred from any compliance or supervisory role in the future because he willfully refused to fix a
Continue Reading CCOs Acting Like Ostriches Will Earn You an SEC Bar
We are regularly approached by both our RIA (and BD too) clients, who inquire, usually around election time, how they should make political contributions. Our advice is usually do not
Continue Reading Political Contributions Result in RIA Fines
Today, the United States Supreme Court sent shock waves through the securities industry as well as the United States Securities and Exchange Commission’s (“SEC”) enforcement program when it held that
Continue Reading A Big “Uh-Oh” for the SEC’s ALJs and Administrative Courts
In rapid succession, the SEC has issued warnings and announced sanctions against registered investment advisers for fee and expense practices, false statements regarding assets under management, and misleading performance data.
Continue Reading The SEC’s Scare Tactics May Work on Advisers
In a recent speech, new SEC Chairman Jay Clayton warned lawyers, who advice clients on bitcoins and initial coin offerings (“ICOs”), to be aware the SEC is lurking out there
Continue Reading Uh Oh!! Bitcoins and ICOs Are the Latest Front in the SEC’s War on Lawyers
The SEC recently upheld a statutory disqualification that FINRA imposed where the representative filed a false U-4 and falsely answered compliance questionnaires. It appears as though the registered representative
The SEC recently announced an enforcement initiative that will target retail investor harm. The agency’s task force will use data analytics to find widespread problems regarding fee disclosures and unsuitable
Continue Reading So The SEC Is Now Focused On Retail Investors
It is almost axiomatic that the SEC “enjoys” bringing enforcement actions against lawyers. The SEC believes that lawyers have a special duty to protect and police the securities markets, and,
Continue Reading SEC Still Has Lawyers in its Cross-Hairs