The SEC Division of Investment Management declined a request to take a no-action position from a registered investment company that sought to exclude proxy materials on a shareholder proposal to "declassify" the Fund's Board.
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In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
The SEC set an effective date of December 11, 2023 for rule amendments that prevent investment companies from adopting names that may mislead investors. The date was published in the Federal Register.
An investment adviser settled charges with the SEC for (i) misleading investors as to its ESG-related practices and (ii) failing to implement an AML program specific to its mutual funds business.
The SEC adopted rule amendments to prevent investment companies from adopting names that may mislead investors.