The United States Securities and Exchange Commission – divided along political lines– sent to the trash heap a 15-year-old policy allowing its Director of Enforcement to approve new investigations as well as the issuance of subpoenas. See Delegation of Authority to Director of the Division of Enforcement, 17 CFR Part 200; Release Nos. 33-11366; 34-102552

Ernie Badway
Ernie is a partner in the Business Litigation and Investment Management practice groups. He advises clients on a broad range of business matters, including securities, commodities, private equity and hedge fund, broker-dealer and investment advisers, corporate governance, partnership and shareholder disputes, and minority shareholder oppression litigation. He represents clients in internal investigations; civil regulatory investigations and actions before the SEC, states, and SROs; civil litigation; and white-collar criminal matters. Ernie counsels clients on the creation of cryptocurrency exchanges, alternative trading systems, broker-dealers, investment advisers, commodity trading advisers, futures commission merchants, introducing brokers, hedge and private equity funds, and commodity pool operators as well as on compliance and regulatory matters relating to their operations. Ernie also assists clients in using ICOs and SAFTs to fundraise, as well as those clients who invest in digital currency, NFTs, and the operation of digital currency funds.
President Trump Issues America First Investment Policy Memorandum Impacting Foreign Direct Investment into the United States and Outbound Investment to Foreign Adversaries such as China.
From our SmartTrade Group at Thompson Hine!
President Trump issued the America First Investment Policy Memorandum on February 21, 2025 https://www.whitehouse.gov/presidential-actions/2025/02/america-first-investment-policy/ proclaiming that the United States “is committed to maintaining the strong, open investment environment that benefits our economy and our people, while enhancing our ability to protect the United States from new and evolving…

Congressman Introduces Resolution to Repeal SEC’s Enhanced Mutual Fund Disclosure Rule
On February 13, 2025, Rep. Andrew Clyde (R-Ga.) introduced a resolution in the U.S. House of Representatives aimed at repealing a recent regulation from the U.S. Securities and Exchange Commission (SEC). This rule mandates that mutual funds disclose portfolio details on a monthly basis, instead of the previous quarterly disclosures, marking a significant shift in…
The New Year Requires a Look Back and a Look Forward

Happy New Year to all and Welcome to Thompson Hine’s newest blog offered as a service to those in the investment management and broker-dealer communities.
What a better way to begin this blog then discussing the problems that arise for RIAs and BDs at this time of year. The first and most pressing for RIAs…