Month: September 2026
SEC and FDA Formalize Information-Sharing Framework
On August 31, 2026, the US Securities and Exchange Commission (SEC) and US Food and Drug Administration (FDA) entered into a memorandum of understanding (MOU) establishing a framework for sharing nonpublic information concerning “FDA-regulated products and activities” in support of the agencies’ respective regulatory and enforcement responsibilities. The MOU is […]
When Poor Investment Diligence Becomes an Advisers Act Violation
The Securities and Exchange Commission (SEC) recently settled an enforcement action against Hatteras Investment Partners and its CEO and co-founder, David Perkins, arising from a transaction that resulted in losses of approximately $300 million. But the interesting part of the case is not the investment loss itself. It is the […]
SEC Proposes Rescinding Investment Adviser Pay-to-Play Rule
The proposal would eliminate Rule 206(4)-5’s two-year compensation ban, covered associate framework and third-party solicitor restrictions. Actual pay-to-play conduct would remain a potential antifraud and fiduciary-duty violation. On September 3, 2026, the US Securities and Exchange Commission (SEC) proposed rescinding Rule 206(4)-5 under the Investment Advisers Act of 1940 (Advisers […]
SEC Eyes Pre-IPO Share Sales as Private-Market Retail Access Expands
During a time of several highly anticipated IPOs of high-profile private companies, the US Securities and Exchange Commission (SEC) continued to file enforcement actions against investment vehicles and related individuals in connection with the offer and sale of pre-IPO securities. Pre-IPO securities provide investors with an opportunity to invest in a […]