Final ERISA Regulations Describe Fiduciary Duties Related to Plan Proxy Voting
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SEC’s OCIE Publishes Investment Adviser Branch Office Risk Alert
On November 9, 2020, the Office of Compliance Inspections and Examinations (“OCIE”) of the US Securities and Exchange Commission (“SEC”) published a risk alert discussing its observations from a series of examinations that focused on SEC-registered investment advisers operating from numerous branch offices and with operations geographically dispersed from the adviser’s principal or main office. In this initiative, OCIE staff assessed, among other things, the advisers’ compliance and supervisory practices relating to advisory personnel working…
The Department of Labor’s ESG-less Final ESG Rule
DOL Proposed Rule Urges Caution Regarding the Use of ESG Factors When Selecting Investments for ERISA Plans
U.S. Carried Interest Regulations Delayed for Second Review
On June 2, 2020, the long-awaited carried interest proposed regulations were returned to the Office of Management and Budget (OMB) for a second round of review. The OMB’s Office of Information and Regulatory Affairs (OIRA) previously completed its review of the proposed regulations on February 27, 2020 and the funds and alternative investments industry has been eagerly been awaiting their release ever since. The reason for the additional round of OMB review is unknown, although…
DOL Issues Guidance about Private Equity Investments in 401(k) Plans
The Department of Labor’s recent pronouncement on the permissibility of investing 401(k) and other defined contribution plan assets in private equity has gotten wide-spread attention. Yet the guidance, which was issued in the form of an information letter, does not establish any new fiduciary principles, or provide any exemptions under the Employee Retirement Income Security Act of 1974 (“ERISA”). This blog discusses why the recent guidance is so significant and what it does and does…
SEC Proposes Valuation Rule for Registered Funds
SEC’s OCIE Issues Risk Alerts on Compliance with Regulation Best Interest and Form CRS
Survival Tips for Investment Advisers in the Wake of COVID-19
COVID-19: Recent SEC Responses applicable to Investment Advisers and Funds (Updated)
