In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
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Several trade associations highlighted concerns about an SEC proposal to establish minimum standards for investment advisers before outsourcing certain services or functions.
SEC Commissioner Mark T. Uyeda criticized the SEC's rulemaking agenda for investment advisers and investment funds as being overly prescriptive, costly and failing to effectively address concerns raised by market participants.
In a joint letter, trade associations urged the SEC to extend the comment deadline by 90 days on proposals concerning open-end fund liquidity risk management programs and outsourcing by investment advisers.
Comments on an SEC proposal to establish minimum standards for outsourcing investment advisory services and related form amendments are due by December 27, 2022.