...Kurt Decko; Stacy Fuller Purpose The purpose of this paper is to explain the announcement and no‐action letter of December 11, 2012 from the Securities and Exchange Commission (“SEC”) Division of Investment Management lifting the moratorium on the use of derivatives by actively managed exchange...

...Aegis J. Frumento; Stephanie Korenman Purpose The purpose of this paper is to introduce the concept of professionalism into the current discussion of the proper scope of regulation of investment advisers. Design/methodology/approach The authors reviewed the scholarly literature on what...

... and net worth tests every five years; the exclusion of net equity in the primary residence from the net worth calculation; and certain transitional provisions designed to allow investment advisers and their clients to maintain performance fee arrangements that existed when they entered into advisory...

... Regulation Investments Broker discovered that Mr Glantz had engaged in misconduct with respect to his customer‐account and other activities at the firm on numerous occasions. Mr Urban recommended in a memorandum to Louis Akers, the vice chairman of the board of Broker, that Mr Glantz be fired. Mr Akers...

...Keith T. Robinson; Joseph P. Kelly, II; Andrea E. Baron Purpose The purpose of this paper is to discuss the implications of an SEC Risk Alert and two FINRA regulatory notices concerning the use of social media by registered investment advisers. Design/methodology/approach The paper analyzes...

... 4.5 exemption from commodity pool operator (CPO) registration for registered funds. Design/methodology/approach This article explains how amended Rule 4.5 will be applied to advisors and sub‐advisors of registered investment companies and the managers of foreign corporations controlled...

... for registered investment companies. Findings Since the adoption of Rule 4.13(a)(4) in 2003, fund sponsors have frequently relied on the exemption made available by that rule to avoid both registration with the CFTC as CPOs and compliance with the CFTC's disclosure, reporting and recordkeeping requirements...

... © Emerald Group Publishing Limited 2012 --> Investments Derivative markets Securities Investors Article Type: 2011 Awards for Excellence From: Journal of Investment Compliance, Volume 13, Issue 1 The following article was selected for this year's Outstanding Paper...

... Protection Act relating to the increased asset threshold for federal registration as an investment adviser, the new exemptions from investment adviser registration (including the exclusion of “family offices” from the definition of an investment adviser), the enhanced reporting obligations imposed...

.... The Court's determination not to allow an expansion of liability under the federal securities laws should give some comfort to all who play a role in issuing or selling securities, including fund directors. Given the structure of the typical investment company complex, however, in which the funds have...

... between research analysts and investment bankers and failed to properly maintain and enforce its email communication firewall procedures designed to prevent communications between bankers and research analysts. The staff further alleged that the firm failed to adequately monitor trading...

... the awarding of lucrative contracts for the management of public pension plan assets and similar government investment accounts. The staff's answers to the FAQs announce cautious positions, do not address some of the more difficult issues advisers may face on a day‐to‐day basis, and are subject to change...

... as well as other persons within the Rule's definition of large trader, to be informed about and to prepare for compliance with the Rule. 1. Directly or indirectly, including through other controlled persons, exercises investment discretion, as discussed more fully below, over one or more accounts...

... been recently amended. © Emerald Group Publishing Limited 2011 Investments Form ADV Firm Brochure Supplement Disclosure Templates can be a big time saver if created and used properly. However, even the simplest templates should be checked against the actual form to make sure...

... implications for both the money management industry and entities financed by money market funds. Originality/value The paper provides information on money market reform for investment advisers, broker‐dealers, regulatory lawyers, institutional investors, and investment companies. Underlying...

...Robert Norman Sobol Purpose This paper aims to make investment compliance professionals aware of the new model of the flexible, high‐service open architecture broker‐dealer – which is characterized as the “plug and play” online brokerage. Design/methodology/approach An analogy is made to “plug...

..., and an expansion in the list of factors an associated person is required to consider as part of a customer's investment profile before making a recommendation. Findings FINRA's new suitability rule is notable for three reasons: the revised rule covers investment strategies and explicit recommendations to hold...

...Richard M. Hervey Purpose The purpose of this paper is to explain the Regulated Investment Company Modernization Act of 2010, P.L. 111‐325, signed into law on December 22, 2010. Design/methodology/approach The paper summarizes the Act and provides a detailed explanation and analysis of each...

...Edward L. Pittman; Cheryl A. Krause; Thomas C. Bogle; Justin C. Danilewitz Purpose The aim of this paper is to explain the provisions of the US Foreign Corrupt Practices Act that may be applicable to investment advisers seeking investments from foreign governments. Design/methodology/approach...

...Robert A. Robertson; Gerardo Perez‐Giusti Purpose The purpose of this paper is to provide an introduction to benefits of using over‐the‐counter (OTC) derivatives when implementing an investment strategy. The paper aims to examine the basic legal structure of OTC derivative transactions...