Investment Services Regulatory Update - February 2018

John Marten, Nathaniel Segal, Jacob Tiedt
Vedder Price
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New Rules, Proposed Rules, Guidance and Alerts –

SEC STAFF GUIDANCE AND ALERTS -

SEC Staff Issues Guidance on Cryptocurrency-related Holdings -

On January 18, 2018, the staff of the SEC’s Division of Investment Management issued a letter to representatives of the Investment Company Institute (ICI) and the Securities Industry and Financial Markets Association (SIFMA), raising questions concerning how funds holding substantial amounts of cryptocurrencies and related products would satisfy the requirements of the Investment Company Act of 1940. The letter follows the staff’s recent requests to several fund sponsors to withdraw registration statements filed to register such products.

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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