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SEC Finalizes Investment Adviser Rules under Dodd-Frank

The SEC has now finalized the rules implementing the Investment Advisers Act of 1940 (the " Advisers Act ") changes, which had been issued in proposed form near the end of 2010 following passage of the Dodd-Frank Act earlier that summer. These rules go into effect July 21, 2011, but the SEC...

SEC Prevails on Summary Judgment

The Commission prevailed on a motion for summary judgment against the founder and chief investment officer of a registered investment company, Leila Jenkins. The complaint centered on allegations that about $1.2 billion of the $1.3 billion the fund claimed to have under management was fictitious. The...