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ARTICLE · 26 MAY 2011

Financial Services Alert - May 24, 2011

Goodwin Procter LLP
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The SEC issued an order (the "Order") settling administrative proceedings against a registered investment adviser (the "Adviser") and its chief executive officer (the "CEO") and its chief compliance officer until February 2010 (the "CCO") relating to SEC findings that (a) the Adviser had provided incorrect responses to inquiries from prospective clients about the Adviser’s experience with SEC examinations; (b) the Adviser had failed to comply with Rule 206(4)-2 (the "Custody Rule") under the Inv

United StatesFinance and Banking
Robert Kurucza
Robert Kurucza

Developments of Note

  • SEC Settles Administrative Proceedings Based on Omissions in Adviser's Responses to RFPs
  • OCC Issues Interpretive Letter Concluding that a National Bank May Dispose of DPC Real Estate by Transferring the Property to the Bank's Community Development Corporation Subsidiary
  • CFTC Codifies Exemptive Relief for Commodity ETFs

Other Items of Note

  • SEC Approves FINRA Proposal to Amend New Rule 5131 to Simplify the Spinning Prohibition and Delay Implementation of Two Provisions
  • SEC Proposes Additional Regulations for Credit Rating Agencies and for Third-Party Due Diligence Providers, Issuers and Underwriters of Asset-Backed Securities

DEVELOPMENTS OF NOTE

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