The SEC adopted final rules on (i) the mandatory clearing of transactions in Treasury securities and (ii) the application of the broker-dealer customer protection rule to Treasury securities.
News & Insights
The Congressional Research Service considered the potential impact of the expiration of the Division of Investment Management’s 2017 no-action letter permitting broker-dealers to receive cash payments for research services from investment managers subject to the EU’s Markets in Financial Instruments Directive II without being subject to regulation as "investment advisers".
SEC Commissioner Mark T. Uyeda warned that rapid change to securities regulations can have wide-spread consequences and that the benefits of globalizing capital markets can only be achieved through "responsible regulation."
The SEC Division of Corporation Finance granted an India-based entity no-action relief from certain Exchange Act tender offer requirements to allow for compliance with applicable Indian law.
Director of the SEC Division of Investment Management William Birdthistle described regulatory developments and the challenges of globalization and interconnectedness to the asset management industry.