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The weekly news source for investment management legal and compliance professionals

Topic: Fund Enforcement

Examiners Will Target Certain Types of Mutual Funds, ETFs and Their Advisers

November 16, 2018
The SECís examination arm is getting the word out about perceived fund and adviser risk areas. Just eight days after issuing a risk alert in regard to advisers and the Cash Solicitation Rule, it has issued another risk alert on risk-based examinations focusing on mutual funds, exchange-traded funds and their advisers.

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SEC Files Misrepresentation Charges Against Adviser Raising Money to Flip Real Estate

February 2, 2018
Flip or flop? Advisers seeking to raise money from clients and investors for the declared purposed of flipping residential properties would be wise to ensure that the dollars raised go to that purpose. The SEC has filed charges against an adviser and others for allegedly failing to do just that.

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SEC Accuses Hedge Fund Adviser of False Statements that Led to Fund’s Collapse

December 31, 2015
Honesty is the best policy, and telling the truth to investors is certainly at the heart of much of what the SEC is about. When the agency believes that an adviser fails that standard, expect it to come down hard Ė as one hedge fund adviser found out.

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Misallocation of CEO Compensation Adds Penalty to Adviser’s Ledger

May 15, 2015
If the charges in an SEC settlement are to be believed, an adviser and its chief financial officer/chief compliance officer attempted to deceive the board of directors of a fund series by misallocating the adviser CEOís salary in an attempt to make profits look consistent. Now it is paying the costs of a settlement instead.

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OCIE Turns Its Attention to Never-Before-Examined Investment Companies

May 1, 2015
Mutual funds, open-end funds and other investment companies that have never been examined should start getting a bit nervous: Examiners may be coming.

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Case Illustrates Need for Controls to Limit Diversion of Investor Funds

April 25, 2014
You canít trust employees to always do the right thing, especially when it comes to money.

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Heartland: Lessons Learned

August 3, 2013


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Heartland: Appeals Court Raises Questions About SEC Case

August 3, 2013


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Heartland: Groundbreaking Mutual Fund Insider Trading Case Tossed Back to District Court

August 2, 2013


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Karpati Outlines Private Equity Enforcement Priorities

February 7, 2013


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State Anti-Takeover Provision Rejected As Incompatible With ICA

November 18, 2010


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