On February 15, 2023, the U.S. Securities and Exchange Commission (SEC) proposed a new rule for registered investment advisers that would replace the current “custody rule” under the Investment Advisers Act of 1940 (Advisers Act) with a new “safeguarding rule”[1] and make corresponding amendments to the Adviser Act’s recordkeeping rule and Form ADV.
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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.
As COVID-19 continues to impact global markets, the U.S. Securities and Exchange Commission (“SEC”) have recently provided certain guidance and targeted relief in recognition of the potential disruption that COVID-19 may have on market participants regulated by the Commission. The following Mayer Brown client alerts describe and take a closer look at certain COVID-19 related