Tag: Mutual Funds
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
IAA Urges FTC to Withdraw Unworkable Aggregation Rule Proposal
The IAA has called on the Federal Trade Commission (FTC) to withdraw a proposal that would amend the definition of “person” in the premerger notification rules under the Hart-Scott-Rodino Act...
February 05, 2021
Tags: Antitrust, Mutual Funds
SEC No-Action Letter Allows Funds to Custody Loan Interests
The SEC’s Division of Investment Management has issued a no-action letter that allows registered funds to self-custody interests in term or delayed draw corporate loans that are originated, negotiated, and...
January 25, 2021
Tags: Custody, Investment Company Act, Mutual Funds, SEC Investment Management
Dual-Registrant Pays Over $18 Million to Settle Charges Related to Wrap Fee Program Fees, Monitoring
The SEC has fined a New Jersey-based dual-registrant over $18 million for breaches of fiduciary duty to advisory clients that participated in the firm’s wrap fee programs. The charges relate...
January 05, 2021
Tags: 12b-1 Fees, Best Execution, Conflicts of Interest, Disclosure, Fees and Expenses, Mutual Funds, Revenue Sharing, SEC Enforcement, Share Class Disclosure, Wrap Fees
President Trump has signed into law the Holding Foreign Companies Accountable Act to restrict the ability of foreign issuers to trade on U.S. exchanges if their auditors are not inspected...
December 21, 2020
Tags: Disclosure, Jay Clayton, Mutual Funds, PCAOB, SEC Investment Management
OFAC, SEC Issue Guidance Related to Executive Order on Investments in Chinese Military Companies
OFAC has issued several frequently asked questions (FAQs) related to an executive order, discussed in an earlier IAA Today report, that prohibits U.S. investors from investing in publicly traded securities of, securities that are derivative...
January 12, 2021
Tags: OCIE, ETFs, Mutual Funds, SEC Examinations, Treasury Department
OFAC Issues FAQs, List Related to Exec Order on Chinese Military Companies
OFAC has issued several frequently asked questions (FAQs) related to an executive order, discussed in an earlier IAA Today report, that prohibits U.S. investors from investing in publicly traded securities...
January 05, 2021
Tags: ETFs, Mutual Funds, Securities, Trading, Treasury Department
SEC Adopts Fair Value Rule for Registered Funds
After many decades of guidance and SEC interpretive releases, the SEC has adopted new Rule 2a-5 under the Investment Company Act on December 3, which governs the valuation practices for...
December 10, 2020
Tags: Fair Value, Mutual Funds
FSOC Expresses Concerns with Fund Leverage and Redemptions
Not surprisingly, the 2020 annual report of the Financial Stability Oversight Council (FSOC) looks at the risk to the U.S. financial system through the lens of the unprecedented economic turmoil...
December 09, 2020
Tags: Coronavirus, COVID-19, Derivatives, ETFs, FSOC, Hedge Funds, Mutual Funds
SEC to Provide Exemption for Approval of Sub-Advisory Agreements from In-Person Board Meeting Requirements Under the Investment Company Act February 7, 2020 The SEC plans to issue an order...
February 07, 2020
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