A CFTC final rule aimed at preventing certain bad actors from seeking exemptions from registration as CPOs under CFTC Rule 4.13 ("Exemption from Registration as a Commodity Pool Operator") was published in the Federal Register.
SEC Chair Jay Clayton, Division of Corporation Finance Director William Hinman, Division of Investment Management Director Dalia Blass and Division of Trading and Markets Director Brett Redfearn provided updates on the SEC's various pandemic relief measures.
In a Complaint filed in the U.S. District Court for the Southern District of Florida, the SEC alleged that a "purported internet investment adviser firm and its president failed to properly register and to provide books and records for examination.
At an SEC Fixed Income Market Structure Advisory Committee meeting, SEC Chair Jay Clayton and Commissioners Elad L. Roisman and Hester M. Peirce addressed issuers concerning rating agencies, bond pricing, trade transparency and internal fund crosses.
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.
SEC Chair Jay Clayton and the Office of Municipal Securities Director Rebecca Olsen urged municipal securities issuers to provide improved forward-looking disclosures to investors during the COVID-19 pandemic.
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.