An SEC final rule on exemptions for mutual funds, exchange-traded funds, registered closed-end funds and business development companies when entering into derivatives transactions was published in the Federal Register.
An SEC final rulemaking intended to simplify and update the regulatory framework for "fund of funds" arrangements was published in the Federal Register.
The SEC adopted a final rule on exemptions for mutual funds, exchange-traded funds, registered closed-end funds and business development companies when entering into derivatives transactions.
The SEC reported on the capital-raising framework recommendations made by participants of the 39th Annual Small Business Forum and the SEC's response to them.
SEC Division of Investment Management Director Dalia Blass said the Division will be making recommendations on outstanding proposals concerning (i) fund of funds arrangements, (ii) funds' use of derivatives, (iii) fund valuation practices and (iv) investment adviser solicitation and advertising. She also highlighted initiatives to enhance public access to private markets.
An investment adviser settled SEC charges for failing to disclose that: (i) the adviser's parent company paid a teachers' union-owned for-profit entity to promote the adviser's services to teachers; and (ii) the adviser received financial benefits as a direct result of investment recommendations that were more expensive than other options available to clients.
A broker-dealer settled FINRA charges for failing to supervise the suitability of its representatives' recommendations to customers on early rollovers of Unit Investment Trusts.
A broker-dealer agreed to settle FINRA charges for supervisory violations in connection with recommendations of potentially unsuitable early rollovers of investments in Unit Investment Trusts.
Three investment advisers settled separate charges with the SEC after self-reporting certain failures to disclose conflicts of interest that were the focus of the SEC Enforcement Division's Share Class Selection Disclosure Initiative.
The Federal Reserve Board established a Money Market Mutual Fund Liquidity Facility to address instability within the financial system as a result of COVID-19.
CFTC Division of Swap Dealer and Intermediary Oversight Director Joshua B. Sterling highlighted registration and disclosure requirements for firms involved in commodity pool offerings.
SEC Division of Investment Management Director Dalia Blass requested industry engagement on (i) fund innovation, (ii) the SEC's derivatives proposal, (iii) affiliated securities lending and (iv) the fund disclosure regime.
A broker-dealer settled FINRA charges for failing to implement a supervisory system in connection with the sale to retail investors of leveraged and inverse-indexed exchange-traded products.
SEC Commissioners issued recommendations on the agency's "re-proposal" to update regulation on the use of derivatives by SEC-registered investment companies and business development companies.
