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.
NFA proposed amendments to (i) expand obligations involving discretionary customer accounts, and (ii) clarify rules and interpretations on discretionary accounts, customer information, risk disclosures and bunched orders.
In three separate cases, two futures commission merchants and a guaranteed introducing broker settled CFTC charges for improperly bunching orders, unauthorized trading and failing to diligently supervise.