Investment Companies, Advisors and Brokers/Dealers
McAfee & Taft regularly represents a variety of clients throughout the financial services industry, including investment companies, investment advisors, broker/dealers and financial institutions, in their dealings with the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), Oklahoma Securities Department, and other federal and state regulators and self-regulatory organizations. Our attorneys are experienced in federal and state registration and exemptions, and they provide comprehensive compliance and risk management advice to financial service clients of all sizes.
We have expertise in the regulation of SEC-registered mutual funds, exchange-traded funds, closed-end funds, insurance company separate accounts, and other investment companies, Section 3(c)(1) and Section 3(c)(7) funds, including hedge funds, private equity funds, venture capital funds and other “private funds.” We also have extensive experience with state and SEC regulation of registered investment advisors and investment advisor representatives, exempt reporting advisors, and advisors to family offices. Our attorneys have in-depth knowledge of the Dodd-Frank Act and the related rules of the SEC and Commodity Futures Trading Commission (CFTC).
We advise clients on the “Regulation R” requirements that permit banks to deal in financial products without registration as broker/dealers, including reviewing their “networking arrangements” and ensuring compliance with the trust and fiduciary activities exception and other Reg R exceptions.
Our experience encompasses a broad range of activities, including investment company filings with the SEC (registration statements, exemptive order applications, annual and semi-annual reports on Form N-CSR, Form N-PX, proxy statements, Form N-Q and other periodic filings) independent directors’ “best practices,” registered investment advisor and investment advisor representative and exempt reporting advisor filings with the SEC and state securities authorities, SEC and FINRA registration and regulation of broker-dealers and associated persons, SEC and FINRA-mandated compliance programs, codes of ethics, proxy voting policies and procedures, compliance with rules governing advertisement, contracts, and suitability, as well as general compliance matters for both investment advisors and broker-dealers.