Compliance Newsflash – June 7, 2017

June 8, 2017

DLA is committed to keeping our clients and friends updated on relevant news and topics in the industry by distributing a weekly Compliance Newsflash. We hope this provides you with helpful and insightful information for you and your firm! Join our mailing list by clicking here: DLA Newsflash Registration.

New Rule 147A And Amendments To Rule 147 Are Now Effective
On June 2, 2017, The National Law Review reported that the SEC (Securities and Exchange Commission) changes to Rule 147 took effect just over a month ago.  Last October, the SEC adopted amendments to Rule 147 to modernize the safe harbor under Section 3(a)(11) and a new intrastate offering exemption, Rule 147A. The SEC also has published a Small Entity Compliance Guide for Issuers.
For more information, click here.

DOL FAQs Guide Compliance Efforts during Fiduciary Rule Transition Period
On June 6, 2017, JD Supra reported that the DOL has issued guidance in the form of Frequently Asked Questions to help firms and their advisers impacted by the Fiduciary Rule know what is expected on and after June 9, 2017, on and after January 1, 2018, and during the period between (the “Transition Period”).
To read the full article, click here.