SEC Adopts Reforms Relating to Investment Advisers Operating Exclusively Through the Internet

The Securities and Exchange Commission (SEC) has approved amendments to the rule governing the registration of internet investment advisers. Under the revised rule, internet advisers must maintain an operational interactive website through which they offer digital advisory services to multiple clients continuously. The amendments also eliminate the current de minimis exception, requiring internet advisers to exclusively provide advice through their interactive website.

SEC Obtains Temporary Restraining Order to Halt Fraud Targeting Indian Americans, Raising Nearly $130 Million

The SEC has charged Nanban Ventures LLC and its three founders with fraud, obtaining a temporary restraining order to halt their alleged fraud which raised nearly $130 million from Indian American investors since April 2021.

Securing Your Future: Ensure Investment Success Through Education and Awareness During World Investor Week 2023

The SEC is hosting various outreach events during World Investor Week in order to emphasize conducting research on investments, gathering emergency funds, and recognizing fraud for investors of all ages.

SEC Appoints Stephanie Allen as Director of Media Relations and Speechwriting

The SEC has appointed Stephanie Allen, who previously worked with SEC Chair Gary Gensler at the CFTC, as the new Director of Media Relations and Speechwriting, effective October 1, 2023.

SEC Amends Regulatory Requirements for Timely Disclosure of Beneficial Ownership Information

The SEC has adopted rule amendments updating Regulation 13D-G to require participants to provide more timely beneficial ownership information to investors, which will become effective 90 days after publication in the Federal Register.

SEC Division of Examinations Announces 2024 Examination Priorities

The Division of Examinations uses a risk-based approach to protect investors and facilitate capital formation through increasing transparency into their examination program and identifying potential areas of heightened risk.

SEC Adopts New Rule 10c-1a to Enhance Transparency in the Securities Lending Market

The SEC has adopted new Rule 10c-1a to increase the transparency and efficiency of the securities lending market by requiring certain persons to report information about securities loans and require RNSAs to make publicly available certain information.