The SEC approved a proposed rule change that will permit the listing and trading of the first quadruple-leveraged exchange-traded funds ("ETFs"). Prior to this approval, the highest-leveraged ETFs offered three times leveraged (or inverse leveraged) exposure to their benchmarks.
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Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.
The SEC Division of Investment Management updated its guidance on mutual fund disclosure to facilitate compliance with the Department of Labor's fiduciary rule.
The SEC Office of Investor Education and Advocacy offered ten tips for investors in 2017.
The SEC Office of Compliance Inspections and Examinations outlined an initiative to identify conflicts of interest related to compensation or financial incentives when registered advisers recommend mutual fund and 529 Plan share classes that have substantial loads or distribution fees.