Investment Management Law

Overview

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Our Investment Management Law practice addresses the securities law and the regulatory-driven compliance needs of a diverse group of financial and investment firms. We provide legal advice and strategic counsel to a broad array of clients - such as registered investment advisers, broker-dealers, insurance companies, banks, trust companies, mutual fund complexes, collective investment funds, and private funds.

Our practice is recognized nationally for its particular expertise in the regulation of investment products and services in the retirement marketplace, where ERISA and the federal and state securities, insurance and banking laws converge. We provide guidance and compliance support with regard to laws that impacts the investment management sphere, such as the Investment Advisers Act of 1940; Financial Industry Regulatory Authority (“FINRA”) regulations; Securities and Exchange Act of 1934; Securities Act of 1933, OCC Regulation 9; and FDIC regulations. We interact regularly with regulators at the federal and state level.

The investment management law area of practice encompasses:

  • Investment adviser status and registration
  • Form ADV used by investment advisers to register with the SEC and state securities authorities
  • Disclosure and reporting, and rules governing advertising, custody, conflicts of interest, and solicitations
  • Compensation and revenue sharing arrangements
  • Advisory agreements, distribution agreements, and account documentation
  • Compliance manuals, compliance programs, compliance policies and compliance procedures
  • Legislative and regulatory developments plus compliance-focused training and industry updates
  • Mergers and acquisitions involving financial firms
  • Regulatory inquiries
  • Guidance on SEC and FINRA positions on social media, data breach, data retention and recordkeeping, gifts/entertainment, privacy, and cyber security
  • Wrap-fee programs, pooled or non-pooled investment programs
  • Broker-dealer status and registration
  • Compensation and revenue sharing arrangements
  • Outside business activity, supervision, and suitability
  • Fiduciary standards
  • Private funds
  • Collective and group trust offerings
  • Matters involving FINRA
  • Derivatives, futures and forward transactions
  • Registration of securities, Rule 3a-4 and discretionary advice programs, and Form S-8
  • Performance reporting, advertising and client communications
  • Share class issues
  • Performance compensation matters
  • Trading and execution
  • Employment matters (or independent contractor status) for financial advisers
  • Defining the scope and parameters of Chief Compliance Officer function
  • Guidance on duty and scope of supervision.

The practice's clients include:

  • Registered investment advisers
  • Broker-dealers
  • Collective investment funds
  • Private funds
  • Banks
  • Insurance companies.