Banking and Finance

Recent Posts

Changes Coming With Anti-Money Laundering Requirements
Posted on 31 Jan 2012 by Doug Cornelius

James H. Freis, Jr., Director of the Financial Crimes Enforcement Network, let us know that his agency is working on anti-money laundering requirements for investment advisers. At a November 15, 2011 speech at the American Bankers Association/American... Read More

A Proactive Approach to Ensure Advisors Adopt Procedures
Posted on 1 Dec 2011 by Thomas O. Gorman

The reorganization of the Division of Enforcement which spawned the re-introduction of specialty groups was, in part, designed to focus the resources of the Division and increase efficiency and effectiveness. Three recently filed cases are an example... Read More

New Anti-Money Laundering Requirements for Non-Bank Mortgage Lenders and Originators
Posted on 9 Feb 2012 by Doug Cornelius

Private Equity has been siting on the fringes of Anti-money laundering regulation for many years. It's still illegal to be involved in money laundering and fund managers should be taking some steps to protect themselves and to identify problems... Read More

Dodd–Frank Wall Street Reform and Consumer Protection Act Regulation of Hedge Funds
Posted on 2 Sep 2010 by Thomas O. Gorman

Hedge funds were a key subject of debate during the passage of Dodd-Frank. While the funds were not tied to the causes of the market crisis, they do represent large pools of assets which can impact the market. Regulators frequently note that they have... Read More

Presidential Campaign Season and the SEC’s Pay-to-Play Rule
Posted on 26 Aug 2011 by Doug Cornelius

With the recent Iowa Straw Poll, the presidential campaign season is getting into full gear. That also means that campaign fundraising is in full gear. I thought it would be useful to apply the SEC's new Pay-to-play for Investment Advisors to the... Read More

Middle Names and Form ADV
Posted on 22 Feb 2012 by Doug Cornelius

When filling out Form ADV, Schedule A and Schedule B require you to disclose control persons, owners, and significant indirect owners of the investment adviser. The instructions call for the full legal name: Last name, first name, and middle name.... Read More

Report on Investment Adviser’s Use of Social Media in Massachusetts
Posted on 18 Aug 2011 by Doug Cornelius

Social Media used by Investment Advisers There is a growing trend in the financial services industry to use social media sites for outreach to existing as well as potential customers. Noticing this trend, the Securities Division of The Office of... Read More

Have You Set Up Your IARD Account?
Posted on 24 May 2011 by Doug Cornelius

With the impending deadline for filing Form ADV to register as an investment adviser, you need to jump through some hoops before you can do the filing. First step is visiting the Investment Adviser Registration Depository . Form ADV needs to be filed... Read More

State Investment Adviser Exams Reveal Significant Deficiencies
Posted on 1 Dec 2011 by Judith Gross

The results of coordinated state examinations of investment advisers in the first half of 2011 by the North American Securities Administrators Association (NASAA) reveal significant deficiencies in a broad range of areas. As investment advisers gear... Read More

The SEC’s Adoption of "Pay-to-Play" Rules for Investment Advisers
Posted on 7 Sep 2010 by K & L Gates LLP

by Cary J. Meer, Mark Mehrespand and Ben Jacqmotte Excerpt: On July 1, 2010, the Securities and Exchange Commission (the "SEC" or "Commission") adopted Rule 206(4)-5 (the "Rule") under the Investment Advisers Act... Read More

  • Blog Post: Dodd–Frank Wall Street Reform and Consumer Protection Act Regulation of Hedge Funds

    Hedge funds were a key subject of debate during the passage of Dodd-Frank. While the funds were not tied to the causes of the market crisis, they do represent large pools of assets which can impact the market. Regulators frequently note that they have inadequate information about the funds. Accordingly...
  • Blog Post: The SEC’s Adoption of "Pay-to-Play" Rules for Investment Advisers

    by Cary J. Meer, Mark Mehrespand and Ben Jacqmotte Excerpt: On July 1, 2010, the Securities and Exchange Commission (the "SEC" or "Commission") adopted Rule 206(4)-5 (the "Rule") under the Investment Advisers Act of 1940 (the "Advisers Act") to address...
  • Blog Post: Have You Set Up Your IARD Account?

    With the impending deadline for filing Form ADV to register as an investment adviser, you need to jump through some hoops before you can do the filing. First step is visiting the Investment Adviser Registration Depository . Form ADV needs to be filed electronically and this is the electronic mailbox...
  • Blog Post: Report on Investment Adviser’s Use of Social Media in Massachusetts

    Social Media used by Investment Advisers There is a growing trend in the financial services industry to use social media sites for outreach to existing as well as potential customers. Noticing this trend, the Securities Division of The Office of the Secretary of the Commonwealth surveyed investment...
  • Blog Post: Presidential Campaign Season and the SEC’s Pay-to-Play Rule

    With the recent Iowa Straw Poll, the presidential campaign season is getting into full gear. That also means that campaign fundraising is in full gear. I thought it would be useful to apply the SEC's new Pay-to-play for Investment Advisors to the crop of presidential contenders. Under SEC ...
  • Blog Post: A Proactive Approach to Ensure Advisors Adopt Procedures

    The reorganization of the Division of Enforcement which spawned the re-introduction of specialty groups was, in part, designed to focus the resources of the Division and increase efficiency and effectiveness. Three recently filed cases are an example of the results of the reorganization and the creation...
  • Blog Post: State Investment Adviser Exams Reveal Significant Deficiencies

    The results of coordinated state examinations of investment advisers in the first half of 2011 by the North American Securities Administrators Association (NASAA) reveal significant deficiencies in a broad range of areas. As investment advisers gear up nationally to register either with their state...
  • Blog Post: Changes Coming With Anti-Money Laundering Requirements

    James H. Freis, Jr., Director of the Financial Crimes Enforcement Network, let us know that his agency is working on anti-money laundering requirements for investment advisers. At a November 15, 2011 speech at the American Bankers Association/American Bar Association's Money Laundering Enforcement...
  • Blog Post: New Anti-Money Laundering Requirements for Non-Bank Mortgage Lenders and Originators

    Private Equity has been siting on the fringes of Anti-money laundering regulation for many years. It's still illegal to be involved in money laundering and fund managers should be taking some steps to protect themselves and to identify problems. There's just no set script. FinCEN is supposedly...
  • Blog Post: Middle Names and Form ADV

    When filling out Form ADV, Schedule A and Schedule B require you to disclose control persons, owners, and significant indirect owners of the investment adviser. The instructions call for the full legal name: Last name, first name, and middle name. And the SEC means it. They require full legal names...