The Securities and Exchange Commission on November 2, 2022 proposed significant revisions to its rules governing open-end investment company liquidity risk management and swing pricing. The proposal would also update related...more
11/4/2022
/ Disclosure Requirements ,
Form N-CEN ,
Form N-PORT ,
GAAP ,
Illiquid Assets ,
Investment ,
Investment Adviser ,
Liquidity ,
Liquidity Risk Management Rule ,
Money Market Funds ,
Policies and Procedures ,
Proposed Rules ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Swing Pricing
The Staff of the SEC’s Division of Investment Management (Staff) has issued a no-action letter permitting a registered fund’s board of directors (board) in certain circumstances to meet telephonically, by video conference or...more
3/2/2019
/ Board of Directors ,
Client Meetings ,
Division of Investment Management ,
Fund Managers ,
Investment Company Act of 1940 ,
Investment Funds ,
No-Action Relief ,
Securities and Exchange Commission (SEC) ,
Shareholders ,
Telephone Voting ,
Videoconference ,
Voting Requirements
The U.S. Court of Appeals for the Fifth Circuit on March 15, 2018 issued an opinion (Opinion) vacating the Department of Labor (DOL) fiduciary rule and related applicable exemptions. The DOL had promulgated the rule and...more
4/18/2018
/ Appeals ,
Best Interest Standard ,
Broker-Dealer ,
Department of Justice (DOJ) ,
Department of Labor (DOL) ,
Dodd-Frank ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Duty ,
Fiduciary Rule ,
Financial Services Industry ,
Internal Revenue Code (IRC) ,
Investment Adviser ,
Mutual Funds ,
Petition For Rehearing ,
Retirement Funds ,
Securities and Exchange Commission (SEC) ,
Vacated
The staff of the U.S. Securities and Exchange Commission (SEC) announced on October 5, 2016 that, with immediate effect, it will no longer require companies to include “Tandy” representations in their disclosure filing review...more
The Department of Labor (DOL) has issued the final version of its “investment advice” regulation (Final Rule), which is widely expected to impact significantly the financial services industry, including registered investment...more
8/30/2016
/ 401k ,
Best Interest Contract Exemptions ,
Broker-Dealer ,
Department of Labor (DOL) ,
Distribution Rules ,
Employee Retirement Income Security Act (ERISA) ,
Fiduciary Rule ,
Final Rules ,
Financial Adviser ,
Financial Services Industry ,
Individual Retirement Account (IRA) ,
Mutual Funds ,
Registered Investment Companies (RICs)
The Securities and Exchange Commission (Commission) on December 11, 2015 proposed new Rule 18f-4 (Proposed Rule) under the Investment Company Act of 1940 (1940 Act) and amendments to certain proposed forms. The proposal...more
At an open meeting of the U.S. Securities and Exchange Commission (SEC) today, the SEC by a three-to-one vote approved the proposal (Proposal) of new Rule 18f-4 under the Investment Company Act of 1940 (1940 Act) and...more