Fund Operator’s Post

New Blog Post: Enhancing Oversight in Financial Services Stifel, Nicolaus & Co. has recently faced substantial fines for failing to supervise the sales of complex exchange-traded products (ETPs), highlighting the critical need for robust supervision in financial services. Our latest blog dives deep into the regulatory missteps and the severe consequences for investors. Learn about the actions of rogue brokers Steven D. Rodemer and Matthew A. Perry, and the ongoing challenges in maintaining compliance standards. Read more about how Girard Bengali advocates for investor rights: Read the full article. #InvestorProtection #FinancialServices #RegulatoryCompliance #GirardBengali https://lnkd.in/gy8gsY2v

Our latest article by Legal Operations Senior Analyst, Matthew Barad dives into the increasingly challenging world of custodial confirmations in securities class actions. Global courts want to see direct evidence of harm alleged early in cases, and defendants are using that to their advantage. Organisers are increasingly willing to drop claimants if they don’t get these documents in a row up front. So, these are a barrier to otherwise legitimate recoveries. Why does this matter to investors? Obtaining these confirmations or “trade attestation” documents early in the registration process for opt-in recoveries is more important than ever. Matthew examines four common challenges tied to obtaining these documents and how FRT helps clients during this key piece of the process. Financial Recovery Technologies #hedgefunds #assetmanagers #securitieslitigation #classactions

**LinkedIn Post** 🚨 Important Alert for Investors | Integrity in Finance 🚨 In a concerning update from the financial sector, serious allegations have been raised against Tony Barouti, a broker working under the banner of Emerson Equity LLC, headquartered in California. This development could prove significant, as it draws attention to the crucial aspects of regulatory compliance and ethical conduct within the financial industry. 🔍 The allegations revolve around activities that potentially jeopardize investor trust and financial security, which are cornerstones of sound financial management and ethical investment practices. Ensuring that financial professionals uphold the highest standards is essential for maintaining the market’s integrity and protecting investor interests. This situation serves as a reminder for all stakeholders in the financial sector to reaffirm their commitment to transparency and accountability. For more details on this developing story, follow this link: [Serious Allegations Leveled Against Broker Tony Barouti and Emerson Equity LLC](https://lnkd.in/e9PDfkf8). ⚖️ Remember, maintaining trust in financial services is not just the responsibility of regulators but of every participant in the market. Let's stay informed and vigilant. #Finance #Investment #EthicsInFinance #Compliance #InvestorProtection #FinancialServices --- (Note: When creating post content based on real-life events or allegations, ensure factual accuracy and avoid making unverified claims. This post is a general template and should be tailored based on specific, reliable information and updates.) https://lnkd.in/e9PDfkf8

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance

FinCEN Director, Andrea Gacki highlights two proposed rules involving reporting requirements for "investment advisers and non-financed residential real estate purchases. These undertakings will help FinCEN and its law enforcement partners root out bad actors taking advantage of the U.S. financial system." #fincen #BOIReport #Aonefincenfiler https://lnkd.in/esKffZ-y

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance

### Addressing Allegations in the Financial Industry: A Focus on Accountability In a recent development that underscores the importance of integrity in the financial sector, Samuel Phillips, a seasoned broker and investment advisor at Cape Securities Inc., is facing serious allegations. The claims against him involve serious issues such as misrepresentation, over-concentration, negligence, and insufficient due diligence and supervision, particularly concerning direct investment products like DPP & LP interests. These accusations, detailed in a customer dispute filed on March 27, 2024, are not only significant because of their seriousness but also because they highlight the potential vulnerabilities that investors face in the financial landscape. Such cases serve as a crucial reminder of the need for meticulous oversight and unwavering ethical standards within financial advisory services. The ongoing investigation into these claims is being closely watched by the industry and serves as a critical call to action for all stakeholders to reinforce their commitment to transparency and accountability, ensuring that the trust placed in them by clients is well-founded. For anyone involved in financial services, whether you are on the advising or receiving end, this unfolding situation is a paramount learning opportunity and a reminder of the roles and responsibilities that come with the management of others' assets. 🔗 Learn more about how such issues are being addressed and the implications for both advisors and investors [here](https://lnkd.in/eCkrTVU6). #Finance #InvestmentAdvisory #Ethics #Accountability #Transparency #FinancialServices #InvestmentFraudLawyers #CapeSecurities https://lnkd.in/eCkrTVU6

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance

The compliance landscape has shifted! The Fifth Circuit Court of Appeals has vacated the entire suite of private fund adviser rules previously adopted by the SEC on August 23, 2023. This pivotal decision impacts rules that many advisers were gearing up to comply with by September 14, 2024, including: 🔹 preferential treatment rule 🔹 restricted activities rule 🔹 quarterly statement rule 🔹 adviser-led secondaries rule 🔹 audit rule Additionally, the Court vacated amendments requiring written documentation for annual compliance reviews under rule 206(4)-7 of the Investment Advisers Act of 1940. The SEC's future steps are currently unknown, but stay tuned for more insights and guidance from Katten. #FinancialServices #SEC #Compliance