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.
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A number of trade groups and industry commenters reiterated their opposition to an SEC proposal to require reporting of large positions in security-based swaps.
The Managed Funds Association criticized the economic analysis included in an SEC proposal to require reporting of large positions in security-based swaps.
In an amicus curiae brief, the SEC supported the right of a beneficial owner to bring a claim involving short-swing profit trading.
President Joseph R. Biden issued an Executive Order restricting certain U.S. investments in "covered national security technologies and products" in the People’s Republic of China, Hong Kong and Macau.