The SEC proposed amendments to performance fee and interval fund rules aimed at expanding retail investor access to private market strategies.
Continue Reading SEC Proposes Amendments to Expand Retail Access to Private Markets
News & Commentary on Financial Regulatory and Compliance Matters
Arthur Don has more than 45 years of experience representing public and private investment companies, money managers and investment advisers, mutual funds and their independent directors, private investment funds (including private equity funds and real estate funds), and broker-dealers. His practice focuses on regulatory structuring and compliance matters, governance, and sophisticated securities matters and transactions.
Throughout his career, Arthur has represented some of the nation’s most well-known and successful investment managers. His decades-long experience in the investment management arena enables him to provide bespoke counseling and strategies.
In addition, Arthur has represented issuers and underwriters in numerous public offerings. He frequently advises on independent director fiduciary duties and compliance policy issues and the implementation of ESG (Environmental, Social, and Governance) principles.
The SEC proposed amendments to performance fee and interval fund rules aimed at expanding retail investor access to private market strategies.
Continue Reading SEC Proposes Amendments to Expand Retail Access to Private Markets
The SEC’s Division of Examinations has issued a Risk Alert identifying recurring deficiencies in how investment advisers disclose and manage economic conflicts of interest, with observations spanning cash management recommendations, fee practices, Form ADV disclosures, and compliance program design.…
Continue Reading SEC Division of Examinations Publishes Risk Alert on Economic Conflicts of Interest
The SEC has raised the financial thresholds for “qualified client” status under the Investment Advisers Act, with new assets-under-management and net worth requirements taking effect June 29, 2026.…
Continue Reading SEC Raises Threshold for ‘Qualified Client’ Status, Effective June 29, 2026
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2026 examination priorities (Exam Priorities) on Nov. 17, 2025.
Continue Reading SEC Division of Examinations 2026 Priorities
This article covers the standard compliance policies and procedures that real estate fund managers should consider adopting, whether in consultation with attorneys who have experience with registered investment advisers (RIAs)…
Continue Reading 2024 Update: Best-Practice Compliance Policies for Real Estate Fund Managers (Part Two of Two)
The Securities and Exchange Commission’s Division of Examinations (Division) announced its 2025 examination priorities (Exam Priorities) Oct. 21, 2024. These priorities address areas of concern based on recent examinations, and…
Continue Reading SEC Division of Examinations 2025 Priorities
On Aug. 15, 2024, a federal court dismissed a proposed class action against financial analysis website Seeking Alpha, Inc. (Seeking Alpha). The lawsuit was brought in July 2023…
Continue Reading No Need for Seeking Alpha to Seek Registration
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act and related rules, absent an exemption, most private fund managers are required to register with the US Securities and Exchange…
Continue Reading 2024 Update: Best-Practice Compliance Policies for Real Estate Fund Managers (Part One of Two)
On May 16, 2024, the U.S. Securities and Exchange Commission finalized amendments to Regulation S-P (the Amendments) that largely adopt the proposed amendments the SEC issued in 2023. As discussed…
Continue Reading SEC Adopts Cybersecurity Amendments to Regulation S-P
On Feb. 6, 2024, the U.S. Securities and Exchange Commission (SEC) adopted new Rules 3a5-44 and 3a44-2 (the final rules) under the Securities Exchange Act of 1934 (the Exchange…
Continue Reading SEC Expands Dealer Registration Requirements