Seward & Kissel LLP


40 Act Blog - 5 new articles


SEC Chair Testifies before Congress on Upcoming Asset Management Rules

Testifying before the U.S. Senate Committee on Banking, Housing, and Urban Affairs (the “Committee”) on June 14, 2016, Securities and Exchange...

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SEC Issues No-Action Relief on Auditor Independence Requirements

The SEC has provided relief from Rule 2-01 of Regulation S-X, confirming that it would not recommend enforcement action against an entity within the...

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SEC Sanctions Investment Adviser for Failing to Establish and Maintain Policies and Procedures to Prevent the Misuse of Material Nonpublic Information

On May 27, 2016, the SEC sanctioned an investment adviser (the "Adviser") for failing to establish and maintain policies and procedures reasonably...

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SEC Issues Order to Increase the Net Worth Threshold for “Qualified Clients”

On June 14, 2016, the SEC approved an adjustment for inflation of the dollar amount tests in Rule 205-3 under the Investment Advisers Act of 1940...

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Administrator to Private Funds Settles SEC Charges of "Gatekeeper" Violations

The SEC announced today that Apex Fund Services (US), Inc. (“Apex”), a fund administrator that provided accounting and administrative services to...

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