Stark & Stark’s Securities Compliance & Arbitration group discusses e-mail retention requirements specific to the Securities industry in the May 2005 edition of the Journal of Financial Planning.
The article discusses the Securities and Exchange Commission’s requirements as they relate to e-mail retention, access and reproduction, as well as best practices for investment advisors.
You can read the article here.
Q&A article in which Thomas Giachetti discusses compliance issues for investment advisers such as required disclosures related to third-party providers and solicitation agreements.
In March, Schwab Institutional concluded its sold-out workshop series on transition planning that began in January. Schwab Institutional hosted these workshops, where third-party professionals including Stark & Stark guided participants through six two-day sessions designed to help with mergers, acquisitions and internal succession.
Rule 203(b) (3)-2, adopted by the SEC on October 26, 2004, requires most private fund advisers to register with the Commission. Advisers must consider the number of investors in their funds, rather than the number of funds, to determine whether they are eligible for the exemption from registration available to advisers with 14 or fewer clients.
The NASD Anti-Money Laundering (AML) regulations, which are largely based on the United States Department of Treasury regulations construing AML provisions under the Patriot Act, require each broker/dealer to conduct annual independent reviews/audits of their respective AML compliance programs.
On October 26, 2004, the Securities and Exchange Commission (SEC) voted to pass a new final rule which will require hedge fund managers who have 15 or more investors (i.e., investors in any hedge funds which the manager advises) to register with the SEC as an investment adviser under the Investment Advisers Act.
In re: Adams Golf, Inc. Securities Litigation – In an action under the Securities Act of 1933, United States Third Circuit Judge Rendell reversed the District Court’s dismissal of plaintiff’s claims that the company’s registration statement and prospectus contained materially false and misleading statements regarding product distribution.
In re Supreme Specialties, Inc. Securities Litigation; Special Situations Fund, III, L.P. v. Cocciola – The United States District Court for the District of New Jersey dismissed the complaints against the CEO, CFO, auditing firm, inside directors, outside directors, and underwriter defendants due to the lack of specific allegations that each had knowledge of the fraud which took place.
Stark & Stark’s Securities Practice group, recently authored an article for Virtual Office News entitled Electronic Recording Keeping Under the Investment Advisers Act of 1940.
You can read the article here.
