Tag: SEC

With SEC’s Reporting Rule Change, Will Equity Compensation Increase?

The leader of Sullivan & Worcester's Capital Markets Group analyzes the SEC’s recent move to double the limit of equity compensation that can be awarded by private companies in any 12-month period without requiring detailed disclosures; he also urges stakeholders to respond to the SEC's open call for comment about equity compensation under Rule 701. 

In Memoriam: How the Fiduciary Rule Changed the Retirement Industry

With the news emerging that the 5th U.S. Circuit Court of Appeals has certified its ruling to vacate the DOL fiduciary rule, Scott Gehman, a retirement plan consultant with Conrad Siegel, reflects on what is already an important legacy for the short-lived set of conflict of interest reforms.

SEC Issues FAQs About Share Class Selection Disclosure Initiative

If an adviser reduced their fee due to the receipt of 12b-1 fees, the SEC might not ask for any disgorgement; for instance, the SEC says, if an adviser regularly charges an annual management fee of 1.25% of assets but lowered that to 1% in light of the 12b-1 fees, the SEC says it is unlikely to ask for any disgorgement.

It’s Not Déjà Vu, It’s a Brand New Best Interest Rulemaking Debate

The release of a thousand-page "best interest" rulemaking package by the SEC applying to all brokers and investment advisers is being hailed as a victory by some and a deep disappointment by others; either way, it's the start of another long chapter in the epic industry battle over federal conflict of interest regulations.