San Francisco Chronicle Quotes Brian Daly on SEC Alternative Data Enforcement Action

September 15, 2021

Akin Gump investment management partner Brian Daly was quoted by San Francisco Chronicle for its article 'S.F.'s App Annie settles with SEC over securities fraud for $10 million.'

The article discusses a $10 million payment by the mobile app performance data seller and its founder to settle securities fraud charges field by the U.S. Securities and Exchange Commission (SEC).

Daly, whose practice includes helping clients in the investment funds industry navigate SEC regulatory compliance obligations, said of the regulator's action, 'The SEC has been closely looking at the use of alternative data by private fund managers over the past three years. Part of this focus has been scrutiny, not just of managers' policies and procedures to prevent insider trading, but of the providers and aggregators of this so-called alternative data.'