In our previous post regarding state-registered investment advisers, we examined the landscape and discussed common deficiencies found in state adviser examinations. In this post, we will discuss enforcement actions typically aimed at state-registered investment advisers, as well as current enforcement trends such as fraud pertaining to emerging markets and protection…
On June 1, 2018, the Securities and Exchange Commission’s Division of Investment Management issued a No-Action Letter to the Investment Company Institute. The ICI asked the Division to assure that it would not recommend enforcement against a mutual fund or its transfer agent if the transfer agent temporarily withheld a…
Earlier this year the Maryland General Assembly amended parts of the Maryland Securities Act and added some new sections to it. The amendments went into effect on October 1, 2017. Changes to the Maryland Securities Act include the creation of the Securities Act Registration Fund, adoption of the North American…