News

July 15, 2015 News

CLIENT ALERT: Compliance Date for Ban on Third-Party Solicitation Extended

July 15, 2015 - The SEC’s Division of Investment Management has again delayed implementing a portion of the “pay to play” rule under the Investment Advisers Act of 1940 applicable to registered investment advisers and exempt reporting advisers.

The SEC will not recommend enforcement action until the Financial Industry Regulatory Authority and the Municipal Securities Rulemaking Board adopt their own conforming rules. Click here to read the full article.