Forum News Feed

January 24, 2023

ACA published the December 2022 Regulatory Update which covers the SEC’s Division of Enforcement’s 2022 annual report. On mutual funds, the report breaks down recent changes to proxy voting disclosures required by registered funds and institutional investment managers, as well as amending the disclosure in annual and semi-annual shareholder reports issued by open-end funds and ETFs.

January 23, 2023

K&L Gates plans to host a webinar titled “Crypto: What You Should Be Considering" which will examine how digital assets and blockchain technology are and might be used in the asset management industry, key risks to consider, and what’s in store for 2023.

January 19, 2023

The Securities and Exchange Commission proposed four new rules that would make significant changes to Regulation Best Execution, order competition and auctions, order execution disclosure, tick size and maker-taker fee caps. At the same open meeting, the Commission also adopted amendments to Rule 10b5-1 for permissible insider trading plans, adding conditions to affirmative defenses and creating new disclosure requirements.

January 18, 2023

Akin Gump released its December edition of CryptoLink, a newsletter that touches on key regulatory developments, enforcement actions, and other resources in the cryptocurrency space.

January 17, 2023

The SEC recently released an update to its Regulatory Flex Agenda which includes information on timelines for final rules covering climate change, the Names Rule, and money market fund reforms, among others. The release notes anticipated dates for final rule releases, but these dates are not deadlines.

January 12, 2023

The staff of the SEC’s Division of Corporation Finance released guidance which calls for providing investors with specific, tailored disclosure regarding a company’s involvement with cryptocurrency and other digital assets, together with associated risk factors.

January 11, 2023

In a recent blog post on the Harvard Law School’s Forum on Corporate Governance, authors from PWC detail the role a corporate board plays in crisis preparedness. The authors note that as part of crisis preparedness, boards should encourage management to “reflect on recent events and take a look at the effectiveness of its enterprise risk management program, crisis preparedness plan, and crisis response” which will benefit operations and shareholders.

January 10, 2023

The Financial Stability Oversight Council unanimously approved its 2022 annual report which makes specific recommendations regarding non-bank financial intermediation, digital assets, climate related financial risk, Treasury market resilience, cybersecurity, and the transition away from LIBOR.

January 9, 2023

Join us tomorrow as Mahlet Makonnen, a Principal at Williams & Jensen in Washington, D.C., analyzes the outcome of the November 2022 mid-term election and discusses how the results will shape the congressional landscape for the financial services sector going forward.

January 5, 2023

Cybersecurity Docket will host the 2023 “Incident Response Forum Ransomware” virtual conference which will include presentations from senior government cybersecurity officials from the FBI and OFAC as well as nearly two dozen other legal and consulting professionals in the field of ransomware response.

January 4, 2023

The SEC recently announced that Sarah ten Siethoff will serve as deputy director of its investment management division. She served as interim director of the investment management division until 2021, when William Birdthistle was appointed to the post.

January 3, 2023

Ernst & Young will host a virtual program covering regulatory and reporting updates for registered funds. The panel will discuss updates on tax legislation, the SEC regulatory agenda, and accounting and financial reporting.

December 22, 2022

Deloitte updated and modernized its “Audit Committee Guide” to provide the latest resources and insights on how audit committee members can perform their duties more effectively. The guide poses questions for audit committee members to consider as they work through problems encountered in committee meetings.

December 21, 2022

In a recent study from the National Bureau of Economic Research entitled, “The Big Three and Board Gender Diversity: The Effectiveness of Shareholder Voice” the authors found after a 2017 “Fearless Girl” campaign by the three largest institutional investors (State Street, Blackrock, and Vanguard) “led American corporations to add at least 2.5 times as many female directors in 2019 as they had in 2016.”

December 20, 2022

In a letter to SEC Chair Gary Gensler, Senator Thom Tillis (R-NC) noted that a recent SEC Inspector General report stated there are “grave deficiencies within the SEC, especially pertaining to its workforce, level of rulemaking experience, and the length of public comment periods.” The letter posed several questions about the pace of rulemakings, responding to concerns in the IG report about staff-related issues, and resource management.

December 19, 2022

Dechert LLP offers a series called “Cyber Bits” a publication that highlights key developments in privacy & cybersecurity policy. The November edition highlights an update from the Cybersecurity & Infrastructure Security Agency (“CISA”), a government agency focused on efforts to enhance the security, resiliency, and reliability of the Nation's cybersecurity and communications infrastructure.

December 15, 2022

The US Department of Labor (DOL) released a final rule, titled “Prudence and Loyalty in Selecting Plan Investments and Exercising Shareholder Rights,” outlining how fiduciaries regulated under ERISA may incorporate ESG factors in fiduciary investment decision-making for retirement plans. The rule clarifies that ERISA-regulated fiduciaries may take into account ESG factors that are relevant to an investment’s expected risk return and other financial factors, but does not require that they do so.

December 14, 2022

the SEC released its Strategic Plan for fiscal years 2022 to 2026 which outlines the agency’s objectives to “fight against fraud, maintain a robust and relevant regulatory framework, and sustain a skilled and diverse workforce to serve America’s investors and capital-raising entrepreneurs alike.”

December 13, 2022

Stradley Ronon now offers a “Digital Assets Regulatory Tracker” which includes links to digital asset-related materials issued by the SEC, CFTC and Department of Labor.

December 12, 2022

Investment Management Division Director William Birdthistle delivered remarks on international regulatory cooperation and developments in the Division of Investment Management. In reference to the recent SEC rule proposal on swing pricing, Birdthistle stated, “comparing the March 2020 experience here in the United States to the experience of some funds in Europe, we are able to glean potential lessons for our own regulatory regime.”