Managers of Wealth Americas

SEC Proposes Amendments to Rule Governing Fund Naming Conventions, Including Use of ESG Investing Practices

Depending on the circumstances and the type of fund name, an 80% Investment Policy may be fundamental or non-fundamental.

BDO Enchances Commitment To Audit Quality

Former PCAOB Regulator Joins Audit Leadership Team

BofA, UBS, Others Paying $91 Million to End Sibor Antitrust Case

Counsel for the investment funds leading the case will seek legal fees of up to $51.8 million

Carey Olsen advises Brazilian fintech

The Series A funding round was led by venture capital firm Canaan

The first ESG-related settlement by the SEC

The case is another proof of concept after the SEC launched its dedicated greenwashing taskforce last year.

US SEC Proposes Rules Regarding ESG for Certain Funds and Advisers

The amendment also seeks to clarify the rule’s application to derivatives investments by stating that, in applying the 80 percent requirement, a fund should use a derivative investment’s notional amount and not its market value.

UBS Must Pay Clients $1.4M Over YES Options Strategy

The causes of action related to UBS’s Yield Enhancement Strategy (YES), a managed-account options strategy product.

SEC Settles First Enforcement Action Against Mutual Fund Adviser Challenging Funds’ ESG Disclosure

In order to charge a “material” misrepresentation, the SEC must demonstrate a misstatement or omission that presents a “substantial likelihood” of affecting the decision-making of a reasonable investor in light of the total mix of

SEC unveils new ESG fund disclosure and naming requirements

Aims to prevent greenwashing

New York sales tax case regarding art leasing

An Administrative Law Judge initially rejected the petitioner’s claim for a sales tax refund

Proposed rule could push more family offices to lawyer up

The proposal comes amid increased scrutiny of family offices in the wake of the Archegos Capital Management meltdown.

Investor group weighs in on SEC’s planned rules for PE

Jennifer Choi of the Institutional Limited Partners Association says the regulator’s proposal would be a big step forward, though some issues remain

Regulatory Insights – May 2022

Your source for the latest updates from the SEC, DOL and across the industry.

SEC Charges BNY Mellon Investment Adviser for Misstatements and Omissions Concerning ESG Considerations

The SEC’s investigation was conducted by Robert Baker and Michael Moran

SEC: BNY Mellon to Pay $1.5M for ESG Error

The charges come as investment advisors increasingly use ESG metrics to appeal to investors, according to SEC Enforcement Division Deputy Director Sanjay Wadhwa.

Our currency, your problem

So said a former U.S. Treasury Secretary in 1971 to other finance ministers struggling with the soaring dollar. 50 years later, the strength of the greenback is again threatening many financial balances around the world.

Wells Fargo to pay $7m for anti-money-laundering failures

The order also found that, beginning in April 2017, Wells Fargo Advisors failed to timely file at least nine additional SARs due to a failure to appropriately process wire transfer data into its AML transaction monitoring system in certain other situation

Legal, Regulation & Compliance