Securities and Exchange Commission

The Securities and Exchange Commission (SEC) proposed amendments to both the advertising rule and the cash solicitation rule under the Investment Advisers Act of 1940 (the “Advisers Act”) on November 4, 2019. Neither rule — adopted in 1961 and 1979, respectively — has been amended significantly since it was adopted, although the SEC and its

On December 8, 2014, the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) announced settlements with fifteen audit firms for violating independence rules applicable to auditors of broker-dealers.  The PCAOB sanctioned seven firms for violating independence rules when those firms prepared the financial statements of brokerage firms that were also their