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Fiduciary Rule: June 9 & Beyond
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • June 9 2017

On May 22, Department of Labor (DOL) Secretary Alexander Acosta announced that, despite President Trump’s memorandum ordering further analysis of the


SEC proposes changes to Form ADV
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • June 18 2015

On May 20, 2015, the Securities and Exchange Commission (the "SEC") issued a rulemaking proposal that will likely lead to significant changes in the


SEC provides No-Action relief for M&A Brokers
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • February 28 2014

On January 31, the staff of the Securities and Exchange Commission ("SEC") issued a no-action letter ("No-Action Letter") permitting an "M&A


New Department of Labor regulations offer more investment advisers the opportunity to provide advice to participants in 401(k) plans and IRAs
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • January 6 2012

On December 27, 2011, new DOL regulations (the New Regulations) designed to encourage more financial advisers to offer investment advice to participants in participant-directed individual account plans (e.g., 401(k) plans) and individual retirement account (IRA) beneficiaries took effect.


Deadline for meeting the new investment adviser regulatory requirements under the Dodd-Frank Act is quickly approaching
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • September 20 2011

On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act), which, among other things, significantly amended the regulatory requirements applicable to investment advisers under the Investment Advisers Act of 1940 (the Advisers Act).


SEC adopts new Form ADV, Part 2
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • November 1 2010

On July 28, 2010, the Securities and Exchange Commission (the SEC) published amendments to Part 2 of Form ADV and related rules under the Investment Advisers Act of 1940 (the Advisers Act).


SEC proposes new approach to mutual fund asset-based distribution fees
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • September 30 2010

The Securities and Exchange Commission (the SEC) has proposed a new rule and rule amendments that would replace Rule 12b-1 under the Investment Company Act of 1940 (ICA) with a new regulatory framework governing how mutual funds may use fund assets to finance distribution and marketing costs (the Proposal).


The SEC targets the advertising of "target date funds” with new proposed rules
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • July 13 2010

On June 16, 2010, the Securities and Exchange Commission (SEC) published for comment proposed amendments to the investment company advertising rules focused primarily on "target date funds" - mutual funds managed to provide a mix of equity and fixed income exposures that changes over time based on an investor's age, target retirement date or life expectancy (the Proposed Rules).


The SEC amends custody rule for registered investment advisers
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • January 19 2010

On December 30, 2009, the Securities and Exchange Commission (the "SEC") published amendments to Rule 206(4)-2, commonly called the "Custody Rule", under the Investment Advisers Act of 1940, as amended (the "Advisers Act").


Investment companies may provide summary prospectuses to 401(k) and other ERISA plans offering their funds
  • Kilpatrick Townsend & Stockton LLP
  • USA
  • September 11 2009

On September 8, 2009, in Field Assistance Bulletin 2009-3, the U.S. Department of Labor (DOL) approved the use of “summary prospectuses” for mutual funds to satisfy prospectus delivery obligations of employee benefit plans, such as 401(k) plans.