The staff of the SEC Division of Investment Management withdrew 2010 guidance which reviewed the permissibility of an SEC-registered, closed-end fund determining to opt in to a control share acquisition statute authorized under state law.
The Managed Funds Association and the Alternative Investment Management Association recommended modifications to the SEC's proposal on the use of derivatives by registered investment companies and business development companies.
The Investment Company Institute offered recommendations on the SEC's "re-proposed" rule to provide a comprehensive approach to the regulation of funds’ use of derivatives and other senior securities transactions.
MSRB published investor education materials on mark-up and mark-down disclosures in municipal securities trade confirmations. The materials provide additional guidance for complying with new rules scheduled to take effect May 14, 2018.
Federal Reserve Board Governor Jerome Powell lauded the progress made by the U.S. financial system since the financial crisis and identified five areas that could benefit from additional regulatory reform.
The CFTC Divisions of Market Oversight and Clearing and Risk extended no-action relief allowing swap execution facilities and designated contract markets to continue correcting trades that were rejected for clearing due to operational and clerical errors.