- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-08-28T13:44:00
Compliance teams at private funds should start analyzing the impact of new rules from the Securities and Exchange Commission (SEC) now, experts said, even though compliance dates are a year to 18 months away.
“Don’t wait until 18 months are up,” said Ken Joseph, managing director at Kroll who formerly worked as a senior officer in the SEC’s Division of Examinations. “The process should begin now, now that we have clarity on what the rules say.”
On Wednesday, the SEC passed a series of rules and amendments to the Investment Advisers Act that are “the most significant changes to the regulation of advisers to private funds since the Dodd-Frank Act in 2010,” according to industry group the Investment Adviser Association.
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The Securities and Exchange Commission approved new regulations for security-based swap execution facilities, part of the agency’s steady progress in implementing languishing rules from the Dodd-Frank Act.
The Securities and Exchange Commission continued its push to get across the finish line the remaining provisions of the Dodd-Frank Act with the adoption of a new rule for institutional investment managers to provide greater transparency regarding short sale data.
California-based investment adviser American Infrastructure Funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission regarding multiple breaches of its fiduciary duty to clients.
Mobile health applications and similar technologies must notify customers following a data breach or risk violating the Federal Trade Commission’s health breach notification rule.
Kristin Johnson of the Commodity Futures Trading Commission called for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
Tens of millions of noncompete clauses included in employee contracts nationwide will be null and void by about Labor Day under a final rule issued by the Federal Trade Commission.
