On March 11, 2019, the SEC announced that it settled charges against 79 investment advisers who self-reported violations in connection with the SEC’s Share Class Selection Disclosure Initiative (the “Initiative”). Please see the link below for a Legal Update on this enforcement action, which discusses the Initiative in greater detail as well as the eligibility requirements for advisers, reviews the regulatory activity in this area prior to the announcement of the Initiative and summarizes the settled enforcement actions against these self-reporting advisers.
Legal Update on SEC’s Share Class Selection Disclosure Initiative (authored by Stephanie Monaco, Matthew Rossi and Leslie Cruz):
If you have any questions about the topics raised in this Legal Update or would like assistance with SEC enforcement or regulatory matters related to share class selection or otherwise, please contact any of the aforementioned Legal Update authors above or any member of our Investment Management or Securities Litigation and Enforcement practice groups.