- 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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A federal appeals court struck down the Securities and Exchange Commission’s private fund adviser rule, agreeing with industry advocates that the agency overstepped its authority.
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.
Steel and an artificial sweetener made by two Chinese companies using forced labor have been banned from entering the U.S. under the Uyghur Forced Labor Prevention Act.
A federal court in Florida has lashed out at federal whistleblower programs by dismissing a mundane False Claims Act case against a medical practice on the grounds that the qui tam provisions of the FCA are unconstitutional.
Companies under criminal prosecution by the Department of Justice for any reason must show they have robust compliance for any artificial intelligence in use–or risk heightened prosecution–under a DOJ policy update.
