Category: Legal and Regulatory Updates
SEC to Increase AUM and Net Worth Thresholds for Qualified Clients
The SEC has published a notice that it intends to make an inflation adjustment to the assets-under-management and net worth tests in the definition of “qualified client” under the Advisers Act.
May 18, 2021
Tags: Fees and Expenses
IAA Provides Input on Non-DVP Practices under Custody Rule
The IAA has weighed in on the Division of Investment Management staff’s initiative to gather information on investment adviser and custodial trading practices that are processed or settled on a non-delivery versus payment (non-DVP) basis.
May 18, 2021
Tags: Custody
SEC Fines Principal of Mutual Fund Adviser for Failure to Disclose Conflicts to the Fund
The SEC has fined a principal of a previously registered investment adviser $75,000 for failures to disclose certain conflicts of interest to a mutual fund client of the adviser.
May 18, 2021
UK FCA Proposes to Permit Re-Bundling for Research Under MiFID II Following Similar EU Changes
The UK FCA issued a consultation recently to scale back limits on the use of commissions to pay for research under MiFID II.
May 18, 2021
Tags: Commissions, European Commission, International, MiFID II, Research
SEC Approves Registration of First Security-Based Swap Data Repository
The SEC recently announced that it approved the registration of its first security-based swap data repository (SDR), the DTCC Data Repository (U.S.), LLC (DDR).
May 18, 2021
EC’s Sustainable Finance Package to Require Consideration of Clients’ Sustainability Preferences
The European Commission has issued a sustainable finance package that will require asset managers to consider a client’s sustainability preferences when providing investment advice.
May 12, 2021
Tags: ESG, European Commission
After Court Order, OFAC Issues FAQ Regarding Luokung Technology Corp.
OFAC has issued an FAQ in connection with sanctions on “Communist Chinese Military Companies.”
May 12, 2021
Tags: Treasury Department
The Chief Accountant of the SEC’s Division of Investment Management has issued a “Dear CFO Letter” to assist funds, advisers, and their independent public accountants “in addressing certain accounting, auditing, financial reporting, or other related disclosure matters.”
May 04, 2021
Tags: Custody, Derivatives, Mutual Funds, SEC Investment Management, Valuation
The SEC’s Division of Investment Management is terminating an exemptive order and withdrawing two no-action letters that were issued in March 2020 as part of the SEC’s response to the COVID-19 pandemic.
April 27, 2021
Tags: Coronavirus, COVID-19, Division of Investment Management, Money Market Fund, Mutual Funds
The SEC has reopened the comment period for a proposal to require universal proxy cards in connection with certain contested director elections.
April 27, 2021
Tags: Allison Herren Lee, Investment Company, Proxy, Shareholder Proposals
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