There has been considerable uncertainty regarding the direction that the SEC might take under Chair Jay Clayton. A recent BakerHostetler program discussed current SEC initiatives; the SEC’s approach to examinations of investment advisers; the Commission’s enforcement priorities; the impact of the recast Markets in Financial Instruments Directive (MiFID II) on U.S. managers and broker-dealers; and taxation of loan origination and cryptocurrencies. The program was moderated by Marc D. Powers
, partner at BakerHostetler and national leader of the firm’s securities litigation, regulatory enforcement and hedge fund industry practices, and featured Walter Van Dorn, partner and head of BakerHostetler’s international capital markets practice; Jonathan A. Forman, counsel at BakerHostetler; Simcha B. David
, partner at EisnerAmper; and Andrew N. Siegel
, then-partner, chief compliance officer and chief regulatory counsel at Perella Weinberg Partners. The first article in this two-part series reviews recent regulatory initiatives undertaken by the SEC that affect investment advisers, along with the implementation of MiFID II and whether the change in leadership at the SEC will influence the examination environment. The second article
will discuss hot topics in SEC enforcement, as well as the tax aspects of loan origination and cryptocurrencies. For more from Powers and Van Dorn, see “BakerHostetler Panel Analyzes Shifts in Enforcement Policies and Tactics As Industry Anticipates New Administration and SEC Chair (Part One of Two)
” (Jan. 5, 2017); and “BakerHostetler Panel Analyzes SEC Use of Administrative Proceedings and Whistleblower Incentives, and Provides Guidance for Fund Managers Facing an Examination (Part Two of Two)
” (Jan. 19, 2017).