Analysis

SEC Actions Point To 'Hyperfocus' On Disclosure Issues

Law360 (May 22, 2020, 5:43 PM EDT) -- The U.S. Securities and Exchange Commission is clamping down on investment advisers and broker-dealers with wide-ranging initiatives and settlements that highlight a "hyperfocus" on disclosure issues, showing the regulator is determined to improve the ways firms communicate with clients, attorneys say.

A batch of recent settlements, including those with Bloomberg Tradebook and Morgan Stanley Smith Barney this month, reveal the agency is trying to send a clear message on the continued importance of accurate disclosures.

"The SEC is often — not always — very clever about when and how they release cases with big names, and they are often trying to...

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