The SEC proposed a rule that would require SEC-registered investment advisers to adopt and implement written business continuity and transition plans.
News & Insights
President Obama vetoed a Congressional resolution of disapproval to prevent the Department of Labor's implementation of the final rule relating to the "Definition of the Term 'Fiduciary'; Conflict of Interest Rule – Retirement Investment Advice."
The Financial Stability Oversight Council updated its report on potential risks to financial stability that may arise from certain asset management products and activities.
IOSCO highlighted major crowdfunding risks and urged regulators to consider measures to address them. In a survey and report issued by the Committee for the Regulation of Market Intermediaries, IOSCO stated that "crowdfunding regimes are in their infancy" and "IOSCO has not proposed a common international approach to the oversight or supervision of crowdfunding at this stage." Based on the results of its survey, IOSCO emphasized the following crowdfunding risks: Heightened financial risks : A high risk of default or failure is often associated with startup businesses. Fraud, money laundering /
The SEC hosted a conference that commemorated the 75th anniversary of the Investment Company Act and the Investment Advisers Act. The SEC noted that it currently oversees registered investment companies with a combined $17.8 trillion in assets and registered investment advisers with approximately $67 trillion in regulatory assets under management. The SEC's announcement of the 1940 Acts' 75th anniversary quotes SEC Chair Mary Jo White as saying that "[f]or 75 years, these Acts have served as a strong foundation for the Commission's regulation of the asset management industry. Their flexibility