Series
Financial Professional Standards
The Securities and Exchange Commission (SEC) formally adopted four regulatory measures intended to enhance the protection of retail investors while preserving existing investment industry business models and the ability of investors to choose among different types of providers. Specifically, the SEC adopted: (1) new Regulation Best Interest; (2) new Form CRS; (3) an interpretation of an investment adviser’s fiduciary duties; and (4) an interpretation of the “solely incidental” prong of the broker-dealer exclusion from the definition of an “investment adviser” under the Investment Advisers Act of 1940. The materials on this webpage include, among other things, our detailed analyses of each of the above items.
Thought Leadership
On 30 January 2024, the US Citizenship and Immigration Services (USCIS) published a final rule (Final Rule) increasing the premium processing fee from US$2,500 to US$2,805, increasing filing fees for I-129 and I-140 employment-based petitions, and imposing a new Asylum Program Fee for each Form I-129 and I-140 filed by employers.
On Tuesday, 23 April 2024, the Federal Trade Commission (FTC or Commission) hosted a Special Open Commission Meeting, in which the Commissioners voted 3-2 to publish and issue a Final Rule that:
Investment advisers offering funds in more than one country are accustomed to adapting to different regulatory requirements.
On 3 April 2024, the US Securities and Exchange Commission announced the first settlement with a stand-alone registered investment adviser for, among other things, failures to maintain and preserve certain electronic communications.