Tag: Mutual Funds
SEC Risk Alert Spotlights Deficiencies, Good Practices ID’d in RIC Exams
A new SEC Risk Alert reviews results of over 200 mutual funds and exchange-traded funds exams looking at impacts on retail investors.
November 12, 2021
Tags: Investment Company Act, Mutual Funds, Risk Alert, SEC Examinations
SEC Proposes Reporting Say-on-Pay Votes, Updates to Fund Proxy Reporting
In a 4-1 vote at Chair Gary Gensler’s first open meeting, the SEC proposed requiring institutional investment managers that are required to file Form 13F to report “say-on-pay” votes, which are non-binding shareholder votes related to corporate executive compensation.
October 05, 2021
Tags: Elad Roisman, ESG, Gary Gensler, Hester Peirce, Mutual Funds, Proxy, SEC Investment Management
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. The...
May 18, 2021
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,...
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...
April 27, 2021
Tags: Coronavirus, COVID-19, Division of Investment Management, Money Market Fund, Mutual Funds
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. New FAQ 7 identifies examples of methodologies a fund could use to calculate the...
April 27, 2021
Tags: Mutual Funds
IAA Responds to SEC Staff Request for Comment on Investment Company Cross Trading Rule 17a-7
IAA members today engage in cross trading between client accounts (i.e., selling a security from one client account while purchasing that same security for another) as a cost-effective way to...
April 13, 2021
Tags: Mutual Funds, Trading
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...
April 13, 2021
Tags: Derivatives, Mutual Funds
FSOC Meeting Focuses on Hedge Funds, Mutual Funds, Impact of Climate Change on Financial Stability
The Financial Stability Oversight Council’s (FSOC’s) first meeting of the year – and of the new Administration – focused on hedge funds, mutual funds, and climate change. Following a discussion...
April 09, 2021
Tags: Climate, Coronavirus, COVID-19, ESG, Financial Stability, FSOC, Hedge Funds, Mutual Funds, Systemic Risk
SEC Offers Guidance for Investing in ESG Funds
In another sign of the SEC’s increased focus on sustainable investing, the agency’s Office of Investor Education and Advocacy has released an Investor Bulletin that focuses on environmental, social, and...
March 01, 2021
Tags: ESG, Mutual Funds
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