SEC Staff Issues FAQ on Mutual Fund Calculation Methodologies for Securities Lending Reporting
The staff of the SEC’s Division of Investment Management recently updated its FAQs on Form N-CEN.
April 27, 2021
Tags: Mutual Funds
Director of SEC’s Chicago Regional Office Leaving SEC
Joel R. Levin, Director of the SEC’s Chicago Regional Office, will leave the SEC at the end of May.
April 27, 2021
Tags: SEC
DOL Issues FAQs for Firms, Guidance for Investors on Fiduciary Exemption
Less than two months after allowing the Department of Labor’s new Fiduciary Exemption to take effect, the DOL’s Employee Benefits Security Administration has issued a set of FAQs on the exemption.
April 16, 2021
Tags: DOL, ERISA, IRAs, Retirement Plans
DOL Issues First Ever Cybersecurity Guidance
The DOL’s Employee Benefits Security Administration has issued its first ever cybersecurity guidance to help plan sponsors, fiduciaries, and record keepers protect plan participants and assets from both internal and external cyber risks.
April 16, 2021
Tags: Cybersecurity, DOL, Retirement Plans
SEC IAC Focuses on Minority and Underserved Inclusion, Discusses Self-Directed IRAs, SPACs
The SEC’s Investor Advisory Committee’s (IAC’s) March meeting issued draft recommendations on minority and underserved inclusion in investment and financial services.
April 16, 2021
Tags: Caroline Crenshaw, Diversity & Inclusion, Elad Roisman, Hester Peirce, IAC, IPOs, IRAs, SPACs, States
IAA Responds to SEC Staff Request for Comment on Investment Company Cross Trading Rule 17a-7
The IAA has submitted comments to the SEC recommending amendments to modernize the Cross Trading Rule in response to the Division of Investment Management’s staff statement on March 22.
April 13, 2021
Tags: Mutual Funds, Trading
New York Adopts LIBOR Law, Effective Immediately
New York’s long anticipated legislation to discontinue use of the London Inter-Bank Offered Rate (LIBOR) was signed into law on April 6 and is effective immediately.
April 13, 2021
SEC Investment Management Withdraws, Modifies Staff Letters to Implement New Derivatives Rule
The SEC Division of Investment Management has announced in an Information Update that it is withdrawing or modifying over 30 SEC staff letters or statements relating to Sections 12(a) and 18 of the Investment Company Act.
April 13, 2021
Tags: Derivatives, Mutual Funds
The National Futures Association (NFA) has announced in a Notice to Members that Interpretive Notice 9079 – NFA Compliance Rules 2-9 and 2-36: Members’ Use of Third-Party Service Providers governing outsourcing will become effective on September 30, 2021.
April 13, 2021
FSOC Meeting Focuses on Hedge Funds, Mutual Funds, Impact of Climate Change on Financial Stability
The Financial Stability Oversight Council’s first meeting of the year – and of the new Administration – focused on hedge funds, mutual funds, and climate change.
April 09, 2021
Tags: Climate, Coronavirus, COVID-19, ESG, Financial Stability, FSOC, Hedge Funds, Mutual Funds, Systemic Risk