By a 3-2 party-line vote, on Aug. 23, 2023, the Securities and Exchange Commission adopted some of the most significant new rules under the Investment Advisers Act of 1940, as
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California Regulator Finalizes Rule Expanding UDAAP Authority to Commercial Financing
On Aug. 2, 2023, California’s Department of Financial Protection and Innovation (DFPI) released a new rule expanding its authority to regulate unfair, deceptive, and abusive acts and practices (UDAAP). The
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Federal Banking Agencies Propose New Rules to Strengthen Capital Requirements for Large Banks
On July 27, 2023, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation issued an interagency
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Proposed Legislation Would Create a Tiered Exemption from Broker Registration
If enacted, the Unlocking Capital Act would establish two investment professional categories—private placement brokers and finders. The legislation would allow these professionals to engage in many activities that, due to
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