An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
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Twenty-six trade associations banded together to urge the SEC not to adopt a proposed amendment to the "custody rule" because it would make "fundamental changes" to an already "well-established and demonstrably effective custody framework without a clear policy rationale."
The SEC reopened and extended the comment deadline until October 30, 2023 on a proposal to significantly amend and redesignate the Advisers Act "Custody Rule," expanding its requirements.
The Investor Advisory Committee reviewed draft recommendations on (i) single-stock exchange-traded funds, (ii) proposed amendments to certain reporting requirements and (iii) third-party oversight of investment advisers.
An investment adviser settled SEC charges for failure to (i) disclose conflicts of interest related to its ownership of special purpose acquisition companies and (ii) file timely and accurate reports.