The U.S. Securities and Exchange Commission on April 21, 2020 proposed a long-anticipated framework for fair valuation of fund investments. Proposed Rule 2a-5 under the Investment Company Act of 1940 would establish...more
5/26/2020
/ Board of Directors ,
Fair Value Standard ,
Fund Managers ,
Good Faith ,
Investment Adviser ,
Investment Company Act of 1940 ,
No-Action Letters ,
Proposed Rules ,
Rescission ,
Securities and Exchange Commission (SEC) ,
Valuation
On April 21, 2020, the U.S. Securities and Exchange Commission proposed a long-anticipated framework for valuation of fund investments. Proposed Rule 2a-5 under the Investment Company Act of 1940 would establish requirements...more
4/26/2020
/ Board of Directors ,
Comment Period ,
Fair Value Standard ,
Good Faith ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Fund Vehicles ,
Popular ,
Proposed Rules ,
Public Comment ,
Securities and Exchange Commission (SEC) ,
Valuation
The U.S. Securities and Exchange Commission adopted a new rule under the Investment Company Act of 1940 that will allow exchange-traded funds that satisfy certain standardized conditions to operate without first obtaining...more
10/24/2019
/ Amended Forms ,
Basket Transactions ,
ETFs ,
Exchange-Traded Products ,
Exemptive Orders ,
Final Rules ,
Investment Company Act of 1940 ,
Redemption Agreement ,
Rescission ,
Rule 6c-11 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
The U.S. Securities and Exchange Commission adopted a new rule under the Investment Company Act of 1940 that will allow exchange-traded funds that satisfy certain standardized conditions to operate without first obtaining...more
10/21/2019
/ Amended Forms ,
Broker-Dealer ,
Disclosure Requirements ,
ETFs ,
Exchange-Traded Products ,
Exemptions ,
Exemptive Relief ,
Final Rules ,
Form N-1A ,
Form N-8B-2 ,
Form N-CEN ,
Investment Company Act of 1940 ,
Payment-In-Kind ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Stock Redemption
Yesterday (September 26, 2019), the U.S. Securities and Exchange Commission announced the adoption of Rule 6c-11 under the Investment Company Act of 1940, which will allow exchange-traded funds that satisfy certain...more
9/28/2019
/ Broker-Dealer ,
Compliance Dates ,
ETFs ,
Exchange-Traded Products ,
Exemptive Relief ,
Form N-CEN ,
Investment Adviser ,
Investment Company Act of 1940 ,
Investment Management ,
New Rules ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Updated Forms
The staffs of the Securities and Exchange Commission’s Division of Corporation Finance, Division of Investment Management (IM Division), Division of Trading and Markets, and Office of Chief Accountant (collectively, Staff) on...more
9/25/2019
/ Adjustable Rate Financial Products ,
Alternative Reference Rates Committee (ARRC) ,
Banks ,
Benchmarks ,
Broker-Dealer ,
Contract Amendments ,
Contract Terms ,
Derivatives ,
Division of Corporate Finance ,
Division of Investment Management ,
Division of Trading and Markets ,
FASB ,
Federal Reserve ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Regulatory Agencies ,
IASB ,
ICE Benchmark Administration (IBA) ,
Insurance Industry ,
Interest Rates ,
Investment Adviser ,
Investment Companies ,
Libor ,
Market Participants ,
Modification ,
Policies and Procedures ,
Secured Overnight Funding Rate (SOFR) ,
Securities and Exchange Commission (SEC) ,
Transitional Arrangements
As set forth in the Incoming Letter, during the past year certain constituents of large-capitalization U.S. equity growth broad-based indices (namely, certain technology-related companies) had grown to represent more than 5%...more
The U.S. Securities and Exchange Commission on July 26, 2018 formally disapproved the proposed rule change by Bats BZX Exchange, Inc. (BZX) seeking to list and trade shares of the Winklevoss Bitcoin Trust (Trust). In...more
The Securities and Exchange Commission is proposing to simplify and modernize the regulatory framework governing exchange-traded funds and enhance information to investors about the costs of purchasing ETF shares. If adopted,...more
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