The SEC has adopted a new rule that permits, on a voluntary basis, the use of a summary prospectus for variable annuities and variable life insurance contracts.
The SEC’s Division of Investment Management has issued two Information Updates regarding no-action letters and other staff statements that have been modified or withdrawn.
This article serves to share a discussion of the evolution of the “Cost of Investigations” coverage grant in an E&O/D&O coverage program and how it has followed the changes in the SEC’s approach to serving as a regulatory authority in the asset management sector.
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