Securities

Recent Posts

Sixth Circuit Concludes Morrison Does Not Apply to Advisers Act
Posted on 24 Aug 2015 by Thomas O. Gorman

In Morrison v. National Australia Bank, Ltd., 561 U.S. 247 (2010) the Supreme Court held that the reach of Exchange Act Section 10(b) is the water’s edge of the United States [subscribers can access an enhanced version of this opinion: lexis.com... Read More

Sixth Circuit Concludes Morrison Does Not Apply to Advisers Act
Posted on 24 Aug 2015 by Thomas O. Gorman

In Morrison v. National Australia Bank, Ltd., 561 U.S. 247 (2010) the Supreme Court held that the reach of Exchange Act Section 10(b) is the water’s edge of the United States [subscribers can access an enhanced version of this opinion: lexis.com... Read More

The Fabulous Fab Rule
Posted on 9 Dec 2010 by Doug Cornelius

Don't write emails so provocative that they wind up reproduced on the front page of the Wall Street Journal. With many fund managers having to register under the Investment Advisers Act, they will now be subject to more extensive record-keeping... Read More

Sixth Circuit Concludes Morrison Does Not Apply to Advisers Act
Posted on 24 Aug 2015 by Doug Esten

In Morrison v. National Australia Bank, Ltd., 561 U.S. 247 (2010) the Supreme Court held that the reach of Exchange Act Section 10(b) is the water’s edge of the United States [subscribers can access an enhanced version of this opinion: lexis.com... Read More

The SEC is Looking at Advisers’ Use of Social Media
Posted on 22 Feb 2011 by Doug Cornelius

According to a story in Investment News , the Securities and Exchange Commission began a sweep of investment advisers' use of social media and social networking last month. The story has a quote from Doug Flynn, an adviser at Flynn Zito Capital... Read More

Are You an Investment Company?
Posted on 29 Mar 2011 by Doug Cornelius

Fund managers are dealing with Dodd-Frank and the requirements under the Investment Advisers Act made by the Securities and Exchange Commission. Of course, a fund manager needs to focus on other areas of financial regulation and enforcement by the... Read More

Lessons from Wunderlich
Posted on 6 Jun 2011 by Doug Cornelius

I don't take pleasure from others' failings, but I do try to learn lessons. The recent settlement between Wunderlich Securities and the Securities and Exchange Commission is full of lessons to be learned. overcharged advisory clients... Read More

SEC Commissioner Gallagher: Guidance Is Needed for IA CCOs
Posted on 26 Jun 2015 by Thomas O. Gorman

SEC Commissioner Daniel Gallagher published a statement explaining his dissent in two recent enforcement actions in which the Chief Compliance Officer of an investment adviser was charged, noting that the trend in such actions is toward strict liability... Read More