Trading and Valuation

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Shortened Settlement Cycle for Securities Transactions

Shortened Settlement Cycle for Securities Transactions WHAT HAPPENED? On September 5, 2017, the securities industry changed the business day standard settlement cycle of securities transactions covered by the T+3 settlement cycle to a T+2 settlement cycle.  The amended rule began covering securities that were traded on September 5, 2017, [...]

SEC Charges Investment Adviser with Defrauding Clients and Prospective Clients

SEC Charges Investment Adviser with Defrauding Clients and Prospective Clients WHAT HAPPENED? On August 31, 2017, the SEC charged an investment adviser and its principal (collectively, the “Defendant”) with misleading clients and prospective clients about the performance track record of an investment strategy they offered.  The SEC explained that the [...]

SEC Fines Private Equity Firm for Inaccurate Disclosures

DOL Releases FAQ on Conflicts of Interest During the Transition Period WHAT HAPPENED? On July 6, 2017, the SEC charged a registered real estate private equity firm (“Respondent”) with executing a transaction between two funds (“Fund I” and “Fund II”) it advised on different terms than what was disclosed to [...]