Mutual Fund – Beach Street Legal LLC

What Exactly is “Distribution in Guise” and Why Does the SEC Care?

Posted on October 13, 2015May 11, 2016 Chris Stanley

This past week the SEC announced a $40 million enforcement action against investment advisor First Eagle Investment Management and its affiliated broker-dealer FEF Distributers for what it touted as the first to arise from its “distribution-in-guise” initiative. Advisors to funds have been anxiously awaiting some sort of guidance since the […]

Gifts and Entertainment: SEC Reminds Advisors of the Rules

Posted on July 26, 2015May 11, 2016 Chris Stanley

The SEC has had a healthy obsession with conflicts of interest as of late, and this week’s Guidance Update from the Division of Investment Management is no exception. The update, entitled “Acceptance of Gifts or Entertainment by Fund Advisory Personnel – Section 17(e)(1) of the Investment Company Act,” may at […]