Investment Management Law
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Investment Management Law: Category Archive for Funds

Federal Court Vacates SEC Rule Requiring Shareholder Nominations

Posted by Todd Cipperman at 7/25/2011 6:17 AM | Add Comment

Federal Court Dismisses CDO Fraud Case Based on Transactional Locus

Posted by Todd Cipperman at 7/22/2011 7:22 AM | Add Comment

SEC Pursues Trustee for Allowing Unauthorized Investments

Posted by Todd Cipperman at 7/21/2011 6:01 AM | Add Comment

SEC Sues Head of Collateral Manager for Omissions in Structured Product Offering Docs

Posted by Todd Cipperman at 7/11/2011 6:29 AM | Add Comment

Fair Valuation Failures Result in $100 Million in Fines and Restitution for Mutual Fund Sponsor

Posted by Todd Cipperman at 7/6/2011 6:19 AM | Add Comment

Supreme Court Says that Investment Adviser Can’t Be Sued for Misleading Fund Prospectus

Posted by Todd Cipperman at 6/14/2011 6:08 AM | Add Comment

No-Action Letter Allows Registered Fund to Acquire Foreign Funds

Posted by Todd Cipperman at 6/8/2011 6:20 AM | Add Comment

SEC Proposal Would Prohibit Reliance on Reg D by Bad Actors

Posted by Todd Cipperman at 5/27/2011 6:21 AM | Add Comment

SEC Chairman Confirms that Fund Manger Registration Will Wait Until 2012

Posted by Todd Cipperman at 5/16/2011 6:45 AM | Add Comment

Massachusetts Files Complaint Against Hedge Fund Manager for Use of Expert Network Firm

Posted by Todd Cipperman at 4/27/2011 6:29 AM | Add Comment

SEC Official Says that Private Fund Adviser Compliance Date May Be Postponed to 2012

Posted by Todd Cipperman at 4/11/2011 5:42 AM | Add Comment

Federal Court Dismisses Class Action Claims Against Fund Sponsor

Posted by Todd Cipperman at 4/5/2011 5:22 AM | Add Comment

SEC Claims Hedge Fund Lied to Directors, Administrator and Investors

Posted by Todd Cipperman at 3/16/2011 5:03 AM | Add Comment

FINRA Expels Hedge Fund Manager over Valuation Issues

Posted by Todd Cipperman at 3/13/2011 8:40 PM

SEC Proposal Would Saddle Directors with Assessing Credit for Money Market Funds

Posted by Todd Cipperman at 3/4/2011 6:44 AM | Add Comment

SEC Sues Hedge Fund Manager for Mis-Use of Side Pockets

Posted by Todd Cipperman at 3/2/2011 7:26 AM | Add Comment

SEC Sues Independent Directors for Accounting and Disclosure Fraud

Posted by Todd Cipperman at 3/1/2011 6:53 AM | Add Comment

SEC Blames Weak Compliance Program for IPO Disclosure and Allocation Missteps

Posted by Todd Cipperman at 2/11/2011 6:26 AM | Add Comment

SEC Sues Unregistered Adviser to Unregistered Fund with Non-US Investors

Posted by Todd Cipperman at 2/3/2011 6:24 AM | Add Comment

Federal Court Rules that Fund-of-Funds Investor Can’t Sue Underlying Funds

Posted by Todd Cipperman at 2/2/2011 7:26 AM | Add Comment

SEC Proposes Rule Excluding Home Value from Accredited Investor Definition

Posted by Todd Cipperman at 1/27/2011 6:58 AM | Add Comment

SEC Proposes Extensive Reporting for Hedge and Private Equity Funds

Posted by Todd Cipperman at 1/26/2011 6:58 AM | Add Comment

SEC Adopts ABS Disclosure and Review Rules

Posted by Todd Cipperman at 1/21/2011 7:24 AM | Add Comment

SEC Pursues Fund Execs for Misleading Marketing Activities

Posted by Todd Cipperman at 1/12/2011 7:13 AM | Add Comment

SEC Sues Hedge Fund Sponsor for Mis-Classifying Org Expenses

Posted by Todd Cipperman at 1/10/2011 8:13 AM | Add Comment

Receiver Claims Law Firm’s Malpractice Caused Investor Losses

Posted by Todd Cipperman at 1/6/2011 7:27 AM | Add Comment

SEC Won’t Allow Private Funds to Use Non-PCAOB Audit Firms

Posted by Todd Cipperman at 1/5/2011 7:12 AM | Add Comment

Fund Tax Rules Changing

Posted by Todd Cipperman at 12/22/2010 6:46 AM | Add Comment

NASAA Proposes State Registration for 3(c)(1) Fund Managers

Posted by Todd Cipperman at 12/17/2010 7:09 AM | Add Comment

Federal Court Grants Summary Judgment to Fund Company in Excessive Fee Case

Posted by Todd Cipperman at 12/14/2010 7:09 AM | Add Comment

Fund Company Not Liable for Market Timing Thanks to Good Faith Efforts

Posted by Todd Cipperman at 12/13/2010 7:10 AM | Add Comment

SEC Threatens Independent Directors with Enforcement Actions over Fund Fees

Posted by Todd Cipperman at 12/1/2010 7:21 AM | Add Comment

SEC Staff Says that 1940 Act Trumps State Takeover Statute

Posted by Todd Cipperman at 11/17/2010 7:11 AM | Add Comment

SEC/DOJ Argue that Fund Sponsors are Liable for Prospectus Statements

Posted by Todd Cipperman at 11/8/2010 7:11 AM | Add Comment

IM Staff Says that Boards Cannot Delegate Review of Affiliate Transactions to CCO

Posted by Todd Cipperman at 11/3/2010 6:10 AM | Add Comment

Fund Sponsor Fined for Failing to Comply with Custody Rule

Posted by Todd Cipperman at 11/2/2010 5:31 AM | Add Comment

No-Action Relief Allows Private Funds to Retain Current Auditors

Posted by Todd Cipperman at 10/27/2010 6:23 AM | Add Comment

Department of Labor Sues Madoff Feeders and Managers

Posted by Todd Cipperman at 10/22/2010 6:14 AM | Add Comment

SEC Sues Hedge Fund Manager for Over-Valuing Side-Pocket Securities

Posted by Todd Cipperman at 10/20/2010 7:30 AM | Add Comment

Private Equity Exec to Pay Nearly $1 Million for Over-Valuing Investments

Posted by Todd Cipperman at 9/29/2010 6:26 AM | Add Comment

SEC Pursues Multi-Strat Manager for Claiming Safety and Diversification

Posted by Todd Cipperman at 9/8/2010 5:45 AM | Add Comment

Court Requires Showing of Stock Price Movement to Allow Class Action

Posted by Todd Cipperman at 9/7/2010 7:00 AM | Add Comment

Ninth Circuit Rejects Private Suits Against Funds Under 13(a)

Posted by Todd Cipperman at 8/24/2010 5:54 AM | Add Comment

SEC Staff Tells Fund Boards to Hold Action on NRSROs Due to Dodd-Frank

Posted by Todd Cipperman at 8/23/2010 6:30 AM | Add Comment

SEC Staff Tells Funds to Review Derivatives Disclosures

Posted by Todd Cipperman at 8/2/2010 7:00 AM | Add Comment

SEC Proposes a Complete Overhaul of Fund Distribution Fees

Posted by Todd Cipperman at 7/23/2010 5:09 AM | Add Comment

Dodd-Frank Eliminates Private Adviser Exemption

Posted by Todd Cipperman at 7/19/2010 8:17 AM | Add Comment

SEC’s Proxy Voting Release Includes More Fund Voting Disclosure

Posted by Todd Cipperman at 7/15/2010 5:50 AM | Add Comment

SEC Charges CDO Manager with Overpaying for MBS to Protect Clients and Inflate Fees

Posted by Todd Cipperman at 6/22/2010 5:46 AM | Add Comment

SEC Proposal Would Ban Suitability Statements in Fund Ads

Posted by Todd Cipperman at 6/17/2010 5:37 AM | Add Comment

FASB Proposal Would Require Brokerage Costs in Expense Ratio

Posted by Todd Cipperman at 6/15/2010 7:15 PM | Add Comment

Shareholder Proposal to Convert Closed-End Fund Must be Included in Proxy

Posted by Todd Cipperman at 5/14/2010 5:36 AM | Add Comment

Mutual Fund Portfolio Manager Sued for Tipping Family Members

Posted by Todd Cipperman at 5/13/2010 6:13 AM | Add Comment

Donohue Says SEC is Considering IFRS for Fund Industry

Posted by Todd Cipperman at 5/12/2010 5:17 AM | Add Comment

Auditor of Madoff Feeder Wins Motion to Dismiss Claims

Posted by Todd Cipperman at 5/11/2010 6:30 AM | Add Comment

Donohue Considering Summary Annual Reports

Posted by Todd Cipperman at 4/29/2010 5:47 AM | Add Comment

Law Firm and other Secondary Actors Not Liable to Investors

Posted by Todd Cipperman at 4/28/2010 5:45 AM | View Comments (2) | Add Comment

Private Equity Fund Manager and Principal of Investee Company Charged

Posted by Todd Cipperman at 4/27/2010 4:49 AM | Add Comment

Investment Bank Sued for Failing to Disclose Client’s Role in CDO

Posted by Todd Cipperman at 4/19/2010 6:32 AM | Add Comment

Court Says that Fund May Not Change Industry Classifications Without Shareholder Vote

Posted by Todd Cipperman at 4/13/2010 5:51 AM | Add Comment

Collective Fund Platforms to be Reviewed, Donohue Says

Posted by Todd Cipperman at 4/12/2010 6:03 AM | Add Comment

SEC Launches Valuation Action Against Fund Sponsor, Portfolio Manager, and Fund Accounting Head

Posted by Todd Cipperman at 4/8/2010 4:01 AM | Add Comment

Supreme Court Vacates Gallus Decision Which Required Comparison to Institutional Fees

Posted by Todd Cipperman at 4/6/2010 6:59 AM | Add Comment

Supreme Court Creates Enhanced Gartenberg Standard for Fund Fees, Raises Plaintiff’s Burden

Posted by Todd Cipperman at 3/30/2010 6:17 PM | Add Comment

SEC Probing Repos and Securities Lending

Posted by Todd Cipperman at 3/30/2010 6:36 AM | Add Comment

SEC Brief Argues for Expansion of Shareholder Approval of Concentration Changes

Posted by Todd Cipperman at 3/29/2010 6:26 AM | Add Comment

SEC Examining Use of Derivatives; Will Not Approve Leveraged ETFs

Posted by Todd Cipperman at 3/26/2010 6:05 AM | Add Comment

Fund Required to Include Shareholder Proposal about Valuation

Posted by Todd Cipperman at 3/12/2010 6:26 AM | Add Comment

SEC Alleges Hedge Fund Sponsor Invented Sham Administrator and Auditor

Posted by Todd Cipperman at 3/5/2010 4:56 AM | Add Comment

NASDAQ Intends to Eliminate Press Releases Where Issuer Files 8-K

Posted by Todd Cipperman at 2/24/2010 8:22 AM | Add Comment

Donohue Says that Venture and Private Equity Fund Managers Should Register

Posted by Todd Cipperman at 2/24/2010 8:21 AM | Add Comment

SEC Sues “Absolute Return” Manager for Volatile, Undisclosed Trading Strategies

Posted by Todd Cipperman at 2/9/2010 6:50 AM | Add Comment

Bank to Pay Over $600 Million for Misleading Collective Fund Investors

Posted by Todd Cipperman at 2/5/2010 8:35 AM | Add Comment

IDC Issues Sub-Adviser Oversight Report

Posted by Todd Cipperman at 2/1/2010 7:39 AM | Add Comment

SEC Adopts New Rules to Regulate Money Market Funds

Posted by Todd Cipperman at 1/28/2010 7:03 AM | Add Comment

Senior Fund Exec Charged with Insider Trading of Fund Shares

Posted by Todd Cipperman at 1/21/2010 7:01 AM | Add Comment

Hedge Fund Sponsor Liable for Sub-Adviser’s Fraud, SEC Argues

Posted by Todd Cipperman at 1/19/2010 7:36 AM | Add Comment

Large Fund Manager Exonerated in Excessive Fee Case

Posted by Todd Cipperman at 1/6/2010 7:51 AM | Add Comment

New Disclosure Rules for Fund Directors and Boards

Posted by Todd Cipperman at 12/17/2009 7:05 AM | Add Comment

House Passes Legislation Requiring Private Fund Adviser Registration and Fiduciary Standard for Brokers

Posted by Todd Cipperman at 12/14/2009 7:10 AM | Add Comment

CP Facility Contemplated for Mutual Fund Loans

Posted by Todd Cipperman at 12/11/2009 6:22 AM | Add Comment

SEC Enforcement Director Calls Out Audit Committee Members

Posted by Todd Cipperman at 12/10/2009 6:58 AM | Add Comment

Hedge Fund Managers Acquitted in Sub-Prime Fund Failure; SEC Action Continues

Posted by Todd Cipperman at 11/11/2009 6:33 AM | Add Comment

Mutual Fund Sponsor to Pay Over $34 Million in Fines/Disgorgement for Commission Recapture Program

Posted by Todd Cipperman at 11/5/2009 7:12 AM | Add Comment

Schapiro Wants 1940 Act for ABS

Posted by Todd Cipperman at 10/29/2009 6:20 AM | Add Comment

Kanjorski Bill Requires Private Fund Adviser Registration; Allows SEC Disclosure Rules

Posted by Todd Cipperman at 10/7/2009 7:04 AM | Add Comment

IDC/ICI Report Shows Increasing Board Independence

Posted by Todd Cipperman at 10/6/2009 7:29 AM | Add Comment

Exemption Sought for Co-Investment by Registered and Un-Registered Funds

Posted by Todd Cipperman at 10/5/2009 6:05 AM | Add Comment

SEC Adopts Interim Rule for Money Market Fund Reporting

Posted by Todd Cipperman at 9/21/2009 6:12 AM | Add Comment

DoL Allows Use of Summary Prospectus for DC Plans

Posted by Todd Cipperman at 9/16/2009 7:19 AM | Add Comment

Exemptive Application Seeks Permission for Multi-Class Closed-End Fund

Posted by Todd Cipperman at 8/31/2009 7:43 AM | Add Comment

SEC Allows Foreign Funds to Expand Investments in U.S. Funds

Posted by Todd Cipperman at 8/5/2009 6:19 AM | Add Comment

Third Circuit Rules that Feeder Fund Manager Must Register as CPO if it Invests in Underlying Commodity Pools

Posted by Todd Cipperman at 7/17/2009 5:43 AM | Add Comment

Federal Judge Rules that Hedge Fund is Bound by Terms of ISDA Docs in CDS Dispute

Posted by Todd Cipperman at 7/15/2009 6:22 AM | Add Comment

SEC Votes to Propose Big Changes to Money Market Funds

Posted by Todd Cipperman at 6/25/2009 6:33 AM | View Comments (1) | Add Comment

Large Mutual Fund Manager to Pay Over $40 Million for Mis-Pricing MBS for Fund’s NAV

Posted by Todd Cipperman at 6/9/2009 6:08 AM | Add Comment

Fund Administration Officers to Disgorge Some Compensation in SEC Settlement

Posted by Todd Cipperman at 6/1/2009 6:25 AM | Add Comment

Fund Manager to Pay over $6 Million for Misleading Board and Investors about High Fees

Posted by Todd Cipperman at 5/28/2009 5:19 AM | Add Comment

SEC Proposes Requiring Funds to Include Shareholder Nominees in Director Proxies

Posted by Todd Cipperman at 5/21/2009 7:07 AM | Add Comment

SEC Sues Money Market Fund Sponsor for Misrepresentations to Board and Shareholders

Posted by Todd Cipperman at 5/8/2009 8:15 AM | Add Comment
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