ARTICLE
1 May 2019

SEC Provides Guidance On Mutual Fund Prospectus Delivery Obligations

CW
Cadwalader, Wickersham & Taft LLP

Contributor

Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
In a guidance letter to certain parties, the SEC Division of Corporation Finance clarified that a broker-dealer may satisfy its prospectus delivery obligation,
United States Corporate/Commercial Law
Cadwalader, Wickersham & Taft LLP are most popular:
  • within Law Department Performance, Government and Public Sector topic(s)
  • with readers working within the Banking & Credit industries

In a guidance letter to certain parties, the SEC Division of Corporation Finance clarified that a broker-dealer may satisfy its prospectus delivery obligation, under Securities Act Section 5(b)(2), by delivering a prospectus to an investment adviser rather than to the adviser's client, provided that the broker-dealer has actual knowledge that the client has granted permission to the adviser to accept the delivery of the prospectus on behalf of the client.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

[View Source]
See More Popular Content From

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More