SEC Proposes New Rules for Private Funds, Cybersecurity Risk Management
EisnerAmper’s Louis Bruno says private fund managers will need to adapt to meet the new standards.
Regulation
Regulators Accuse Investment Firm of Preying on Elderly
The SEC and CFTC allege an LA firm continues to target mostly elderly or retirement-aged victims as part of a precious metals scam.
HeadSpin Avoids SEC Penalty Through Remediation
CEO Manish Lachwani allegedly falsely inflated the software firm’s revenue by $800 million.
SEC Proposes Reporting Changes for Private Equity, Hedge Fund Advisers
The regulator says the amendments would improve systemic risk assessment and bolster oversight.
10-Year Treasury Yield Moves Higher
The benchmark nears 2% amid coming Fed hikes and surging inflation.
SEC Awards More Than $40 Million to Whistleblowers
The regulator handed out some $37 million to two joint tipsters
FINRA Fines Credit Suisse $9 Million for Violating Customer Protection Rule
The regulator accused the firm of failing to maintain control of billions of dollars of margin securities.
SEC Charges Adviser With Fraudulently Operating Private Fund
Anthony Cottone allegedly raised nearly $3 million using false and misleading representations, and misappropriated funds.
Supreme Court Declines to Hear Delphi Pension Termination Case
The lack of action by the high court ends more than 12 years of litigation after the General Motors unit’s pension plan was terminated.
Pacific Life Fined for Unlicensed Pension Risk Transfers in New York
The insurance firm will pay a $3 million fine for unauthorized PRT business conducted in the state.
Stocks Keep Slipping as Fed Eyes Faster Tightening
As Powell addresses a Senate panel, Wall Street forecasts even more rate hikes for 2022.
The Fed Isn’t Planning to Lift Rates High Enough, Says Summers
The central bank seems too timid to really dampen today’s high inflation, the former Treasury secretary warns.
New York Demands Political Disclosure From Twitter, Six Other Companies
Comptroller Thomas DiNapoli has filed seven shareholder proposals to force firms to reveal political spending.
UK State Pension Struggling to Manage Inflation
The government’s decision to not increase pension payments in step with inflation in 2022 has angered many.
DOL Warns Retirement Plans to Be Cautious About PE Investments
The Department of Labor is concerned fiduciaries will misinterpret its earlier June 2020 letter.