On 15 February 2023, the Securities and Exchange Commission (SEC) announced a proposed overhaul of the custody framework for SEC-registered investment advisers (investment advisers). The proposed reforms—which would amend and...more
More than a month has passed since the 4 November compliance date for the Securities and Exchange Commission’s (SEC) Modernized Marketing Rule for Investment Advisers (the Marketing Rule or the Rule), and many in the industry...more
SEC ADVERTISING AND CASH SOLICITATION PROPOSALS: OVERVIEW -
- On November 4, 2019, the SEC proposed amendments to modernize rules addressing investment adviser advertisements and payments to solicitors
- In proposing...more
AGENDA -
- 2018 Overview
- Industry Challenges
- Key Trends Through 2020
- Roaring 20’s
...more
On November 4, 2019, the U.S. Securities and Exchange Commission (“SEC”) published proposed amendments (the “proposed amendments” or “proposed rule”) to Rule 206(4)-1 (the “Advertising Rule”) under the Investment Advisers Act...more
AGENDA -
• Overview of the GIPS Standards
• Goals of the CFA Institute for the 2020 GIPS Standards
• Material Changes to the GIPS Standards
• Changes from the 2010 edition to 2020 edition
• Changes from the Exposure...more
On June 28, 2019, the CFA Institute published the 2020 edition of the Global Investment Performance Standards (the “2020 Standards”). The Global Investment Performance Standards (“GIPS”) are voluntary ethical standards that...more
An engaging discussion that focuses on the upcoming release of the Exposure Draft of the 2020 GIPS standards.
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Sections:
- Executive Summary
- Material Changes Proposed by the Exposure Draft
- Effect of the Proposed Revisions Certain Investment Managers and Transactions -
Executive Summary -
On August 30, 2018 the CFA...more
AGENDA -
Overview of GIPS Standards -
Goals of CFA Institute for GIPS 2020 Exposure Draft -
Proposed Material Changes to GIPS Standards -
Impact of GIPS 2020 Proposals on Market Participants -
...more
In recent months, a series of regulatory developments have clarified current guidance and signaled the potential for significant future changes to the rules that govern performance presentations by investment advisers. ...more
On December 21, 2017 the U.S. Securities and Exchange Commission (the “SEC”) published a settlement order with TPG Capital Advisors, LLC (“TPG”) arising from insufficient disclosure regarding the acceleration of monitoring...more
On June 9, 2017, the Financial Industry Regulatory Authority, Inc. (“FINRA”) issued an interpretive letter (the “Letter”) permitting the use of Related Performance Information (as defined below) in continuously offered...more
The CFA Institute GIPS Executive Committee (the “Executive Committee”) recently issued a consultation paper related to the commencement of its GIPS 20/20 initiative (the “Consultation Paper”). The GIPS 20/20 initiative is an...more
The CFA Institute recently released its Exposure Draft of the Guidance Statement on Broadly Distributed Pooled Funds (the “Proposed Guidance”) intended for firms that claim compliance with the Global Investment Performance...more
On May 12, 2015, the Financial Industry Regulatory Authority (“FINRA”) issued an interpretive letter (the “Letter”) permitting the use of Related Performance Information (as defined below) in communications distributed solely...more
The GIPS Executive Committee has approved a new requirement, effective January 1, 2015, that any firm claiming compliance with GIPS must annually notify the CFA Institute of such claim by June 30. Each GIPS-compliant firm...more
On July 23, 2014, in connection with the adoption of final rules governing the structure and operation of money market funds, the Securities and Exchange Commission (SEC) re-proposed amendments to Rule 2a-7 to implement...more
On July 23, 2014, the Securities and Exchange Commission (the SEC) adopted final rules governing the structure and operation of money market funds, in a release adopting amendments to Rule 2a-7 under the Investment Company...more
8/7/2014
/ Dodd-Frank ,
Final Rules ,
Floating NAV ,
Investment Company Act of 1940 ,
IRS ,
LiquidAlts ,
Money Market Funds ,
Mutual Funds ,
Redemption Gates ,
Securities and Exchange Commission (SEC) ,
U.S. Treasury
On July 23, 2014, the Securities and Exchange Commission (the SEC) adopted final rules governing the structure and operation of money market funds. These rules are discussed in a release adopting amendments to Rule 2a-7 under...more
On May 27, 2014, an administrative law judge (ALJ) found ZPR Investment Management, Inc. (ZPRIM) and its former owner, Max Zavanelli, to have violated the Investment Advisers Act of 1940 for publishing misleading...more
At the Global Investment Performance Standards (“GIPS®”, or “GIPS Standards”) 2013 Annual Conference, held Sept. 19th and 20th in Boston, MA, speakers Annie Lo (CFA Institute) and Ann Putallaz (AFP Consulting, LLC) and...more
On June 5, 2013, the Securities and Exchange Commission (“SEC”) voted to release its long-awaited proposals to make significant revisions to the rules governing money market mutual funds (“money funds”), as well as to adopt...more