Is this you? As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.
Claim your profile
Articles by Peter D. Fetzer
Amended Regulation S-P: Here To Stay And Being Examined In 2026
Foley & Lardner are most popular: within Coronavirus (COVID-19), Government, Public Sector and Insurance topic(s) Last month, the U.S. Securities and Exchange Commission (SEC) Division of Examinations released its Fiscal Year 2026 "Examination Priorities." In this year's release, the SEC announced that it will begin examining covered investment advisers, investment companies, and broker-dealers for compliance with amendments to Regulation S-P that, among other things, requires them to report...
Amended Regulation S-P: Here to Stay and Being Examined in 2026 | JD Supra
Last month, the U.S. Securities and Exchange Commission (SEC) Division of Examinations released its Fiscal Year 2026 “Examination Priorities.” In this year’s release, the SEC announced that it will begin examining covered investment advisers, investment companies, and broker-dealers for compliance with amendments to Regulation S-P that, among other things, requires them to report data breaches involving customer information within 30 days.
Don't Buy The Buzzwords: "AI Washing" Gets Its Reckoning
Since the release of ChatGPT 3.5 in November 2022, public interest in artificial intelligence (AI) has surged in a classic example of a hype cycle. As with past technological breakthroughs, companies may be tempted to overstate their AI capabilities to draw investor attention.
Don’t Buy The Buzzwords: “AI Washing” Gets Its Reckoning | JD Supra
Since the release of ChatGPT 3.5 in November 2022, public interest in artificial intelligence (AI) has surged in a classic example of a hype cycle. As with past technological breakthroughs, companies may be tempted to overstate their AI capabilities to draw investor attention.
Don’t Buy The Buzzwords: “AI Washing” Gets Its Reckoning
Since the release of ChatGPT 3.5 in November 2022, public interest in artificial intelligence (AI) has surged in a classic example of a hype cycle. As with past technological breakthroughs, companies may be tempted to overstate their AI capabilities to draw investor attention.
SEC Tightens Cybersecurity Requirements With Regulation S-P Amendments
FL Foley & Lardner More Foley & Lardner LLP looks beyond the law to focus on the constantly evolving demands facing our clients and their industries. With over 1,100 lawyers in 24 offices across the United States, Mexico, Europe and Asia, Foley approaches client service by first understanding our clients’ priorities, objectives and challenges.
SEC Tightens Cybersecurity Requirements with Regulation S-P Amendments | JD Supra
“The basic idea for covered firms is if you’ve got a breach, then you’ve got to notify. That’s good for investors.” Those were among the remarks that U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler made in announcing the SEC’s amendments to Regulation S-P, governing the treatment of nonpublic personal information by certain financial institutions.
SEC Greenlights Bitcoin ETFs: What Happened And What It Portends
On January 10, 2024, the U.S. Securities and Exchange Commission (SEC) approved the launch of several BTC Exchange-Traded Funds (ETFs).1 The approval order resolves the critical legal and regulatory issues entailed in launching a BTC ETF. Shares in trusts holding BTC can now be bought and sold on SEC-regulated exchanges, although other issues remain.
SEC Greenlights Bitcoin ETFs: What Happened and What It Portends | JD Supra
On January 10, 2024, the U.S. Securities and Exchange Commission (SEC) approved the launch of several BTC Exchange-Traded Funds (ETFs).[1] The approval order resolves the critical legal and regulatory issues entailed in launching a BTC ETF. Shares in trusts holding BTC can now be bought and sold on SEC-regulated exchanges, although other issues remain.
Artificial Intelligence, The SEC, And What The Future May Hold Original
With the growing use of artificial intelligence (AI) in financial markets, broker-dealers and investment advisers need to pay attention to the risks posed by AI on firms' compliance with federal securities laws. While machine learning is increasingly integrated into today's financial ecosystem including call centers, compliance systems, robo-advisers, and algorithmic trading, the use of AI systems, and generative AI systems specifically, are developing rapidly.
Artificial Intelligence, the SEC, and What the Future May Hold | JD Supra
With the growing use of artificial intelligence (AI) in financial markets, broker-dealers and investment advisers need to pay attention to the risks posed by AI on firms’ compliance with federal securities laws. While machine learning is increasingly integrated into today’s financial ecosystem including call centers, compliance systems, robo-advisers, and algorithmic trading, the use of AI systems, and generative AI systems specifically, are developing rapidly.
SEC Adopts Changes To Schedule 13D And Schedule 13G
On October 10, 2023, the U.S. Securities and Exchange Commission (the "SEC") adopted final rules amending (the "Amendments") Schedules 13D and 13G of the Securities Exchange Act of 1934 (the "Exchange Act") to modernize its reporting rules and ultimately to speed up the rate at which beneficial ownership information is made available to the public.
Securities and Exchange Commission Updates Schedules 13D and 13G
On October 10, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted final rules amending (the “Amendments”) Schedules 13D and 13G of the Securities Exchange Act of 1934 (the “Exchange Act”) to modernize its reporting rules and ultimately to speed up the rate at which beneficial ownership information is made available to the public.
US Dept of Labor PERM PWD Processing Time Updates
Skip to main content October 13, 2023 Volume XIII, Number 286 Legal Analysis. Expertly Written. Quickly Found. Trending News PERM, Prevailing Wage Processing Times Updated Print Mail Download i The U.S. Department of Labor has posted updated processing times for permanent labor certification (PERM) applications and prevailing wage determination (PWD) requests. PERM Processing: As of Sept.
SEC Adopts New Private Funds Rules: Key Takeaways For Private Fund Advisers And Investors - Wealth & Asset Management - United States
During an open meeting on Wednesday, August 23, 2023, the U.S. Securities and Exchange Commission (the "SEC" or the "Commission") voted 3-2 along party lines to adopt new rules1 (collectively referred to as the "Private Funds Rules" or the "Rules") proposed under the Investment Advisers Act of 1940 (the "Advisers Act").
SEC Adopts New Private Funds Rules: Key Takeaways for Private Fund Advisers and Investors | JD Supra
During an open meeting on Wednesday, August 23, 2023, the U.S. Securities and Exchange Commission (the “SEC” or the “Commission”) voted 3-2 along party lines to adopt new rules1 (collectively referred to as the “Private Funds Rules” or the “Rules”) proposed under the Investment Advisers Act of 1940 (the “Advisers Act”).
Proposed Securities Exchange Act of 1934 13D Amendments Part Two
Wednesday, February 1, 2023 As noted in our related blog post, the Security and Exchange Commission (the “SEC”) has proposed amendments (the “Amendment”) to Schedules 13D and 13G of the Securities Exchange Act of 1934, to modernize its reporting rules and improve the speed and substance of the information made available to the public. As of this post, rule changes have not yet been adopted, but the SEC’s stated dated for final action, April 2023, is fast approaching.
Proposed Securities Exchange Act of 1934 13D Amendments Part One
Wednesday, February 1, 2023 In February 2022, the Security and Exchange Commission (the “SEC”) proposed an amendment (the “Amendment”) to Schedules 13D and 13G of the Securities Exchange Act of 1934, to modernize its reporting rules and ultimately to speed up the rate at which information is made available to the public. As of this post, rule changes have not been adopted, but the SEC’s stated dated for final action, April 2023, is fast approaching.
SEC Proposes Amendments To 13(d) And 13(g) Reporting Requirements – Accelerates Filing Deadlines And Addresses Group Formation Activity - Corporate/Commercial Law - United States
United States: SEC Proposes Amendments To 13(d) And 13(g) Reporting Requirements – Accelerates Filing Deadlines And Addresses Group Formation Activity 17 February 2022 by Evan D. Stone , Peter Fetzer and Irtaza Asif Foley & Lardner Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
SEC Proposes Amendments to 13(D) And 13(G) Reporting Requirements – Accelerates Filing Deadlines and Addresses Group Formation Activity | JD Supra
On February 10, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced proposed rule amendments to beneficial ownership reporting requirements under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 (the “Proposed Rules”). The Proposed Rules, if adopted, will be of significant consequence to 5%+ owners (alone or in Section 13d “groups”) of public equity securities.
Lest We Forget, The SEC Cares About Private Equity
United States: Lest We Forget, The SEC Cares About Private Equity 04 November 2021 by Margaret G. Nelson , Thomas J. Krysa , Stuart Fross , Peter Fetzer and Stephen M. Meli Foley & Lardner Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
Ensure Disclosure Controls And Procedures Address Cybersecurity
United States: Ensure Disclosure Controls And Procedures Address Cybersecurity 04 November 2021 Foley & Lardner Your LinkedIn Connections with the authors To print this article, all you need is to be registered or login on Mondaq.com.
Lest We Forget, the SEC Cares About Private Equity | JD Supra
During last week’s testimony before the Senate Committee on Banking, Housing, and Urban Affairs, the questioning of SEC Chair Gary Gensler focused on the expected topics of cryptocurrency regulation, ESG disclosures, and gamification. But Gensler’s written testimony circulated beforehand reminded the marketplace that private funds, including private equity, will continue to be a focal point.
SEC Cybersecurity Violations Settlement with First American Financial Corp.
June 15, 2021 The Great Lakes Have Two Ordinary High Water Marks, an Important... by: Kyle P. Konwinski Supreme Court of Appeals of West Virginia Modifies "Stranger to... by: H. Hampton Rose IV The “State” of Telehealth: Oregon Looks to Provide Parity for... by: Matthew M. Shatzkes and Ehiguina L. Borha Here We Go Again: Services to Re-Revise Endangered Species Act... by: James M. Auslander and Alexander Horning Face-Covering Considerations for Retailers in a Post-Color Tiered... by: David B.
Ensure Disclosure Controls and Procedures Address Cybersecurity | JD Supra
On June 15, 2021, the Securities and Exchange Commission (SEC) announced settled charges against real estate settlement services company First American Financial Corporation for disclosure controls and procedures violations related to a cybersecurity vulnerability that exposed sensitive customer information. The SEC’s order charges First American with violating Rule 13a-15(a) of the Securities Exchange Act of 1934.
Is the USA on a Path To Mandatory Climate Change Disclosure? | JD Supra
On March 15, the SEC announced a 90 day consultation period on mandatory climate change disclosure. Acting Chair Lee cited to the December 2020 work of the ESG Sub-Committee of the Asset Management Advisory Committee which in turn endorsed the development of a taxonomy for disclosure by the Investment Company Institute. Chair Lee’s comments initially focused on Regulation S-K and S-X, while soliciting public comment, there is a focus on asset managers, potentially with a private equity/debt focus.
Beware the “ESGs of March” as ESG Regulatory Change Is Afoot | JD Supra
Three recent developments in relation to ESG related disclosures are of note: (1) on March 10th, the US Department of Labor announced it would not enforce its own rules related to ESG investing, (2) on the same day the EU’s mandatory sustainability risk disclosure went into effect, and (3) the SEC announced an enforcement task force to hunt down ESG related misconduct on March 4th.
SEC Examination Risk Alert Signals Focus on Digital Asset Securities | JD Supra
On February 26, 2021, the SEC’s Division of Examinations issued a Risk Alert signaling an exam focus this year on activities of investment advisers, broker-dealers, exchanges, and transfer agents related to Digital Asset Securities, defined as assets distributed and/or transferred using distributed ledger or blockchain technology.
SEC Signals Increased Focus on Climate-Related Risk Disclosures | JD Supra
On February 24, 2021, Acting Chair of the Securities and Exchange Commission Allison Herren Lee released a public statement directing the Division of Corporation Finance to enhance its focus on climate-related risk disclosures in public filings. CorpFin staff is expected to evaluate risk disclosures against the 2010 guidance related to climate change matters, and to engage with companies to understand how the market is managing climate-related risks.
Foley Regulatory Reminder: Electronic Delivery of Shareholder Reports under Rule 30e-3 of Investment Company Act | JD Supra
Beginning January 1, 2021, registered management companies and certain registered unit investment trusts that have complied with the required transition period disclosures are now able to use electronic delivery to transmit shareholder reports. Why We are Sending this Reminder To remind registered management companies and unit investment trusts of the steps required to comply with the use of electronic delivery of shareholder reports.
Congress Passes NDAA Legislation Extending SEC’s Disgorgement Powers | JD Supra
On January 1, 2021, the U.S. Congress voted to override a presidential veto of the National Defense Authorization Act (NDAA)1, the annual military spending bill. Tucked away in the 1,400-page legislation are provisions granting the Securities and Exchange Commission (SEC) statutory authority to pursue disgorgement in federal court actions and extending the statute of limitations for the SEC to recover disgorgement from five to 10 years for scienter-based claims.
Division of Examinations Issues Risk Alert on Securities Investment that Finance Communist Chinese Military Companies | JD Supra
On January 6, 2021, the Division of Examinations (“Division”) issued a Risk Alert to notify investment advisers, broker-dealers, and other market participants of a recent action relating to investments in securities associated with Communist Chinese military companies, as well as investors transacting in such securities.
Division of Examinations Issues Risk Alert on Securities Investment that Finance Communist Chinese Military Companies
January 08, 2021 Global Solutions: The One in the New Year—A 2020 Recap [PODCAST] by: Ethan G. Isaac and Bonnie Puckett Division of Examinations Issues Risk Alert on Securities Investment... by: Peter D. Fetzer and Stuart E. Fross Contract Pharmacies and the 340B Drug Discount Program: New... by: Kenneth Yood and Erica J. Kraus Beltway Buzz, January 8, 2021 by: James J. Plunkett EPA Seeks Participants for Small Business Review Panels on... by: Lynn L. Bergeson and Carla N.
SEC Proposes Amendments to Rule 144 and Form 144 | JD Supra
On December 22, 2020, the Securities and Exchange Commission voted to propose an amendment to Rule 144 under the Securities Act of 1933 to revise the holding period determination for securities acquired upon the conversion or exchange of certain "market-adjustable securities." The proposed amendment is intended to reduce the risk of unregistered distributions in connection with sales of those securities.
SEC Adopts Modernized Marketing Rule for Investment Advisers | JD Supra
On December 22, 2020, the Securities and Exchange Commission announced it had finalized reforms under the Investment Advisers Act to modernize rules that govern investment adviser advertisements and payments to solicitors. The amendments create a single rule that replaces the current advertising and cash solicitation rules. The final rule is designed to comprehensively and efficiently regulate investment advisers’ marketing communications.
SEC Reforms Investment Adviser Advertisement Governing Rules
December 22, 2020 SEC Adopts Modernized Marketing Rule for Investment Advisers by: Peter D. Fetzer and Stuart E. Fross COVID-19 Vaccination Policies: What Employers Need to Know by: Katharine I. Rand and Daniel R. Strader Important New Trademark and Copyright Laws Appear in Stimulus Package by: Louis T. Perry and Darren S. Cahr FinCEN Provides Clarity for Section 314(b) Information Sharing by: Bochan Kim and Sarah E. Aberg Washington: New COVID-19 Quarantine Proclamation, Amendment to... by: Michael A.
SEC Amends Regulation S-T to Permit Electronic Signatures | JD Supra
On November 17, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced it had adopted amendments to Regulation S-T and other rules to permit the use of electronic signatures for SEC filings (the “Amendments”). Under the Amendments, companies may use an electronic signature provider, such as DocuSign or Adobe Sign, to obtain signatures for documents that they file with the SEC, and avoid having to obtain and retain paper originals of the signature pages.
SEC Amends Regulation S-T to Permit Electronic Signatures
December 18, 2020 SEC Amends Regulation S-T to Permit Electronic Signatures by: Peter D. Fetzer and Benjamin F. Rikkers McDermottPlus Check-Up: December 18, 2020 by: Mara McDermott and Kristen O’Brien Beltway Buzz, December 18, 2020 by: James J. Plunkett Fifth Circuit Reminds Employers of the Importance of Contemporaneous... by: Taylor E. White Ontario Government Passes Regulation to Create Flexibility in the... by: Michael Comartin and Stephen Shore Data Privacy Dish December 18 by: David A.
5 Takeaways Regarding OCIE’s Focus on RIAs’ Handling of “Alt Data” | JD Supra
The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) highlighted alternative data, or “alt data,” as a top examination priority.1 AIMA held a webinar on November 17, 2020, for investment managers on OCIE’s use of alt data, entitled Alternative Data and OCIE: How, What and Why You Should Prepare Ahead of Your Next SEC Exam, led by Senior Advisor of Promontory Financial Group Jane Jarcho, Director of Promontory Financial Group Sarah Curran,...
U.S. Department of Labor Issues Final Rule on Proxy Voting and Shareholder Rights by Employee Benefit Plans | JD Supra
On December 11, 2020, the U.S. Department of Labor (“DOL”) announced a final rule establishing a regulatory framework for private employee benefit plans’ fiduciaries to follow when they exercise shareholder rights, including proxy voting, and select and monitor proxy advisory firms.
U.S. Department of Labor Issues Final Rule on Proxy Voting and Shareholder Rights by Employee Benefit Plans
Legal Disclaimer You are responsible for reading, understanding and agreeing to the National Law Review's (NLR’s) and the National Law Forum LLC's Terms of Use and Privacy Policy before using the National Law Review website. The National Law Review is a free to use, no-log in database of legal and business articles. The content and links on www.NatLawReview.com are intended for general information purposes only.
Foley Regulatory Alert: SEC Modernizes Framework for Registered Fund Valuation Practices | JD Supra
On December 3, 2020, the Securities and Exchange Commission (“Commission” or “SEC”) announced the adoption of a new rule that establishes an updated regulatory framework for valuation practices of registered investment companies and business development companies (“funds”). New rule 2a-5 under the Investment Company Act of 1940 establishes requirements for determining fair value in good faith for purposes of the Investment Company Act.
Lessons Learned From OCIE’s Inspections of Investment Adviser Compliance Programs | JD Supra
The Office of Compliance Inspections and Examinations (OCIE) issued a risk alert on November 19, 2020 related to the Advisers Act compliance rule, Rule 206(4)-7. Some key takeaways for Chief Compliance Officers (CCOs) are as follows: CCOs must be nimble and respond to changes in the business.
Modernization of Management’s Discussion and Analysis and Other Financial Disclosures | JD Supra
On November 19, 2020, the Securities and Exchange Commission (SEC) voted to adopt amendments that will modernize, simplify and enhance certain financial disclosure requirements in Regulation S-K. The amendments are intended to enhance the focus of financial disclosures on material information for the benefit of investors while simplifying compliance efforts for registrants. The amendments impact public companies and business development companies.
Brexit: FCA Reminder of December 30 Deadline To Avail Oneself of a Temporary Marketing Permission | JD Supra
As the UK approaches a “no deal” exit from the EU, the FCA has issued to the Luxembourg CSSF (and thus to all of us) a reminder that the window of time to access the UK’s temporary regime to market alternative investment funds in the UK post-Brexit under a marketing passport equivalent is still open, but not for long: the deadline for accessing the “temporary marketing permissions regime” is December 30.
CFTC Registration Relief for Non-U.S. CPOs | JD Supra
On October 15, 2020, the CFTC unanimously adopted amendments to Rule 3.10(c) that will be of assistance to foreign-located persons acting as commodity pool operators1 on behalf of offshore commodity pools.2 Rule 3.10(c) will be familiar to many non-U.S. CPOs as their current primary exemption from commodity pool operator registration.
SEC Enforcement Actions Impacting Private Fund Advisers for Fiscal Year 2020 | JD Supra
On November 2, 2020, the SEC’s Division of Enforcement issued its 2020 Annual Report for the fiscal year ending September 30, 2020. While the Enforcement Division filed 405 standalone enforcement actions – the lowest total in the last six fiscal years, likely due to the impact of the COVID-19 pandemic – it still managed to obtain $4.680 billion in court-ordered disgorgement and civil penalties, marking its highest total in the last six fiscal years.
Advisers Act Custody Rule Dear CFO Letter | JD Supra
On October 23, 2020, the SEC Division of Investment Management’s Chief Accountant’s Office (“IMCAO”) issued three separate “Dear CFO” letters addressing (i) the determination of when a fund commences operations, (ii) financial statements included in the initial registration statement of a business development company, and (iii) compliance with the Advisers Act Custody Rule (206(4)-(2)) by means of combined financial statements.
Show More
loading
Actions
Is this you?
As a journalist, you can create a free Muck Rack account to customize your profile, list your contact preferences, and upload a portfolio of your best work.Get in touch with Peter D.
Contact Peter D., search articles and posts on X, monitor coverage, and track replies from one place.
Learn more about Muck Rack