The CFTC set a comment deadline of December 11, 2023 for a proposal that would (i) raise the amount of money required to invest in funds under certain CFTC Rule exemptions with respect to offerings to "qualified eligible persons" and (ii) increase the disclosure requirements applicable to such funds.
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The CFTC proposed raising the amount of money required to invest in funds under CFTC Rule 4.7 ("Exemption from certain part 4 requirements for commodity pool operators with respect to offerings to qualified eligible persons") and increasing the disclosure requirements applicable to such funds.
The Managed Funds Association urged the SEC to adopt an approach that "protects investors, enhances regulatory coordination, promotes market transparency and increases market fairness and efficiency."
In a set of recommendations to Congress, the North American Securities Administrators Association emphasized protections for retail investors, seniors and securities markets, as well as the continued "empowerment" of state regulatory authorities.
The Financial Stability Oversight Council heard updates on the work of the Alternative Reference Rates Committee and a Council review of asset management products and activities.