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Academic Paper Questions Judicial Review of Agency Cost-Benefit Analysis in...
In a recent paper, John Coates, a professor at Harvard Law School, questions the benefit of cost-benefit analysis in financial services regulation. The paper expresses concern that judicial review of...
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SEC Commissioner Stein Discusses Market Structure Issues
SEC Commissioner Stein discussed market structure issues in a recent speech. She provided an overview of the ways that technology and competition have changed trading, noting the proliferation of...
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MFDF Webinar: Board Oversight of Sub-Advised Funds
On February 20 from 2 – 3:00 pm Eastern, the Forum will offer a webinar titled Board Oversight of Sub-Advised Mutual Funds with Sander M. Bieber of Dechert LLP and Kevin Shine of Strategic Insight....
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FINRA Expands Cross-Market Surveillance
In early February, BATS Global Markets, Inc. (BATS) and FINRA announced an agreement to provide FINRA with cross-market surveillance services to BATS’ four exchanges by the first quarter of 2015. The...
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PWC Provides View of Asset Management in 2020
Asset Management 2020: A Brave New World is a new publication by PwC that paints a picture of what the asset management industry may look like in 2020. The paper predicts a huge rise in global assets...
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SEC To Hold Cybersecurity Roundtable
The SEC recently announced plans to hold a cybersecurity roundtable at its DC headquarters on March 26. The roundtable comes as more firms see cybersecurity threats and question how best to respond...
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FINRA Chairman Discusses Vision for Protecting Market Integrity
In a recent speech FINRA Chairman and CEO, Richard Ketchum, discussed the steps FINRA is taking to protect the U.S. securities markets. He provided an overview of the protections that FINRA is...
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SEC Chair Mary Jo White Discusses “State of the SEC”
At PLI’s annual SEC Speaks conference, SEC Chair Mary Jo White provided an update on the state of the SEC and previewed the agency’s priorities for the year ahead. She discussed the SEC’s Dodd-Frank...
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SEC Commissioner Aguilar Focuses on Cyber-Security Threats
In a recent speech, SEC Commissioner Aguilar called for the public and private sectors to work together to take action against cyber-security threats. He expressed his growing concern that a...
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Commissioner Stein Advocates For Enforcement Against Gatekeepers
In her first speech as a commissioner at SEC Speaks, Commissioner Stein discussed the SEC’s enforcement efforts, noting that one of the biggest surprises during her time at the Commission was the vast...
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Supreme Court Weighs In on Securities Class Actions
In late February, the Supreme Court addressed the ability of the victims of securities fraud to bring class actions alleging violations of state law. The case, Chadbourne & Park v. Troice, has a...
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IM Staff Clarifies Aggregate Advisory Fee Rate
In a recent IM Guidance Update, the staff of the SEC’s Division of Investment Management clarified circumstances that may trigger an increase in the “aggregate advisory fee rate” in funds with...
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Promoting Effective Board Communication
Communication and Decision Making in Corporate Boards, a forthcoming paper, seeks to identify the most effective board communication methods. The paper finds that although good communication is...
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Supreme Court: Advisers’ Employees Entitled to Whistleblower Protections
In the recent case Lawson v. FMR, the Supreme Court found that a fund adviser can be held liable if it retaliates against one of its employees for reporting a fraud occurring at the mutual fund. The...
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SEC Chief Accountant on Audit Committees
At PLI’sSEC Speaks conference, the SEC’s Chief Accountant, Paul Beswick, gave a presentation entitled Audit Committee: Back to Basics. The presentation covered the role and responsibilities of audit...
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NIST Releases Cyber Security Framework
In February 2013, President Obama signed an executive order requiring, among other things, the Secretary of Commerce to direct the National Institute of Standards and Technology (NIST) to develop “a...
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PCAOB to Hold Meeting on Auditor Reporting Proposal
The PCAOB will hold a meeting on April 2 and 3 to hear further thoughts on the Board’s proposal that would require new auditing standard and related amendments that are intended to enhance the...
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Commissioner Gallagher Praises SEC Staff
SEC Commissioner Daniel Gallagher directed his speech at PLI’s 2014 SEC Speaks conference directly to the SEC staff in the form of an open letter that he read at the event. He praised the staff’s...
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ICI President Warns of Consequences of SIFI Designation and Encourages Action
In his remarks at the Mutual Fund and Investment Management Conference, ICI President and CEO Paul Schott Stevens outlined the reasons why asset managers and funds should not be designated as...
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SEC’s Norm Champ on Risk Monitoring, Rulemaking Priorities, and Industry...
In his keynote address at the Mutual Fund and Investment Management Conference, Director of the SEC’s Division of Investment Management Norm Champ discussed the Division’s risk monitoring efforts,...
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