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 RequirementsRichard M. Cutshall
Richard M. Cutshall is Co-Chair of the firm’s Investment Management Group. Rich has experience representing clients in a variety of investment management, corporate, and general securities matters, including the representation of mutual funds and other funds registered under the Investment Company Act of 1940, fund independent directors, unregistered investment companies, federally registered and state registered investment advisers, broker-dealers, and an array of public and private companies. He represents clients in all aspects of investment company practice, including organizing and forming new funds, registering investment companies with the SEC, the acquisition and merger of funds, and advising clients on the day-to-day aspects of corporate governance, board and adviser fiduciary responsibility, and SEC compliance.
Private Fund Adviser Rulemaking
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…
Continue Reading Private Fund Adviser RulemakingAre Syndicated Term Loans Securities Under Reves v. Ernst & Young? 2nd Circuit Solicits SEC Views
A holding subjecting Term Loan Bs to securities regulation would have a profound effect on the $1.4 trillion market for syndicated term loans and on financial institutions at a time of limited liquidity. …
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SEC Announces 2023 Examination Priorities
On Feb. 7, 2023, the Securities and Exchange Commission’s Division of Examinations announced its 2023 examination priorities. The announcement focuses on six different categories.
Continue reading the full GT Alert.
Continue Reading SEC Announces 2023 Examination Priorities2023 Report on FINRA’s Examination and Risk Monitoring Program
On Jan. 10, 2023, the Financial Regulatory Authority (FINRA) released its 2023 Report on FINRA’s Examination and Risk Monitoring Program (“Report”) in which it identifies the year’s areas of examination…
Continue Reading 2023 Report on FINRA’s Examination and Risk Monitoring ProgramENABLERS Act Proposes to Expand Definition of ‘Financial Institution’; Impose BSA/AML Requirements on Professional Service Providers
On July 14, 2022, the U.S. House of Representatives passed bipartisan legislation that, if passed by the Senate and signed into law, would expand the types of institutions required to…
Continue Reading ENABLERS Act Proposes to Expand Definition of ‘Financial Institution’; Impose BSA/AML Requirements on Professional Service Providers2022 Report on FINRA’s Examination and Risk Monitoring Program
On Feb. 9, 2022, the Financial Industry Regulatory Authority (FINRA) released its 2022 Report on FINRA’s Examination and Risk Monitoring Program (Report), in which it identifies its areas of examination…
Continue Reading 2022 Report on FINRA’s Examination and Risk Monitoring Program
2021 SEC Examination Priorities for Securities Industry Registrants
The Division of Examinations (the Division) (formerly known as the Office of Compliance Inspections and Examinations, or OCIE) of the U.S. Securities and Exchange Commission (SEC) released its annual…
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2021 Report on FINRA’s Examination and Risk Monitoring Program
On Feb. 1, 2021, the Financial Regulatory Authority (FINRA) released its 2021 Report on FINRA’s Examination and Risk Monitoring Program (Report), in which it identifies its areas of examination focus…
Continue Reading 2021 Report on FINRA’s Examination and Risk Monitoring Program
2020 SEC Exam Priorities for Securities Industry Registrants
The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (SEC) released its annual list of 2020 Examination Priorities on Jan. 7, 2020. Many of…
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