The SEC adopted rule amendments to prevent investment companies from adopting names that may mislead investors.
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Several investment advisers settled SEC charges for custody violations on the assets of private funds. The SEC charged the firms for failing to comply with audit and reporting procedures that would have afforded an exemption from the applicable custodial requirements.
The SEC set effective and compliance dates for amendments aimed at preventing runs on money market funds during times of financial stress. The SEC is adopting a tiered approach to the transition periods for the final amendments.
The SEC adopted rule amendments aimed at preventing a run on money market funds during a time of financial stress.
In remarks before the Investment Company Institute, SEC Chair Gary Gensler addressed risks associated with liquidity mismatches. He described initiatives to enhance liquidity risk management.