An SEC Order providing temporary exemptive relief for certain investment funds and advisers from (i) filing requirements and (ii) in-person board meeting requirements was published in the Federal Register. The expiration dates are August 15, 2020 and June 30, 2020, respectively.
investment advisers and exempt reporting advisors impacted by the coronavirus from Form ADV filing and brochure delivery requirements; and
private fund advisers impacted by the coronavirus from Form PF filing requirements.
The SEC also stated that it would not seek enforcement actions for delays in timely delivery of a registered fund's prospectus due to coronavirus-related circumstances.
The SEC also provided temporary exemptive relief under the Investment Company Act for:
management investment companies, business development companies and their respective investment advisers or principal underwriters from in-person voting requirements for a company's board of directors;
management investment companies and unit investment trusts impacted by the coronavirus from (i) filing deadlines for Form N-CEN and Form N-PORT, and (ii) transmittal deadlines for annual and semi-annual reports; and
closed-end investment companies and business development companies from "the requirement to file Form N-23C-2 at least 30 days prior to redeeming or calling securities."
The SEC provided temporary exemptive relief for certain investment funds and advisers from filing and in-person board meeting requirements amid the coronavirus outbreak.
The MSRB addressed the application of supervisory requirements in light of operational challenges and business disruptions posed by the coronavirus outbreak.
The SEC Office of Investor Education and Advocacy warned investors of potential fraudulent promotions by companies claiming their products or services help stop the coronavirus outbreak.
FINRA staff offered reassurances and recommendations for investors as the Coronavirus continues to spread and market volatility increases.
NFA reminded swap dealer registrants of their regulatory reporting requirements in the midst of the coronavirus pandemic.
NFA urged members to prepare for the potential impact of the coronavirus on businesses and review their business continuity plans.
The SEC offered relief and assistance to certain U.S. publicly traded companies and fund boards affected by COVID-19.
SEC and Public Company Accounting Oversight Board leaders alerted market participants to potential impacts from the coronavirus on financial disclosure and reporting.
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