Advisory Contracts

SEC Regions Issuing Deficiencies On Hedge Clauses

In recent weeks, at least two SEC regional offices, Atlanta and Chicago (which, perhaps coincidentally, was singled out by one panelist at last weeks NRS conference as being “totally irrational”), have taken what appear to be new positions about hedge clauses. In deficiency letter comments, each has taken the position that its a fraudulent practice for advisory contracts […]

Bridgeway Performance Fee Case Holds Lessons For All Advisers

Last week, the SEC settled an enforcement proceeding against Bridgeway Capital Management and its founder and president John Montgomery for allegedly charging “illegal performance fees” on Bridgeway funds. If those names ring a bell, its because Montgomery has testified several times in the past two years before Congress in support of various mutual fund reform […]

SEC Enforcement Attorneys Honing In on Fund Advisory Contracts

The SECs Division of Enforcement is conducting at least four investigations of fund advisers and directors relating to the directors approval of fund advisory contracts. The investigations are focusing on a perceived failure of the directors to comply with the procedural requirements of Section 15(c) of the Investment Company Act. Under 15(c), directors are obligated […]

The New Board Approval Process: What Should Subadvisers Expect?

With all the hullabaloo surrounding the SECs independent chairman proposal, you may not have paid much attention to another rulemaking quietly making its way through the SECs pipeline: a new requirement that a fund describe, “in reasonable detail,” the material factors its board considered, and the conclusions the board reached, when approving the funds adviser(s) […]

Audio Interviews

How to Read an SEC Enforcement Action

Stern Tannenbaum law firm partner Aegis Frumento on how to get the most from reading an SEC administrative order or court complaint.

Most Important Supreme Court Decisions for Advisers and Funds

Find out the high court decisions from recent years that are likely to affect how advisers and investment companies work from Debevoise partner Robert Kaplan. 

Top 10 Cybersecurity Steps to Take Now

Sutherland law firm partner Brian Rubin shares the most urgent cybersecurity steps for investment advisers.

Top Marketing Problems … and Solutions

Get solutions for the top marketing challenges that advisers face from ACA Compliance Group managing director Kimberly Daly

Watch Out for 5 Cybersecurity Myths

ACA Aponix Director Pascal Busnel on the most common cybersecurity myths that may cause firms to spend resources where they may not be needed.

The Hidden Costs of Non-Compliance

Proskauer law firm partner and former SEC Division of Investment Management deputy director Robert Plaze on why the costs of non-compliance go way beyond an SEC penalty.

CCO Liability: How to Protect Yourself

Find out from Blue Edge Capital CCO Margaret Fretz what chief compliance officers may be liable for and best practices to make sure you are protected.

Ethics or Compliance: Making the Choice

Find out the difference an ethics, rather than a compliance, perspective makes at an advisory firm from former Ethics and Compliance Officer Association COO Timothy Mazur.