Top of the Agenda - Regulatory

SEC's Blass: Are boards leveraged, empowered enough?
By Hillary Jackson
Dalia Blass, director of the Securities and Exchange Commission's Division of Investment Management, continued to highlight the important role of mutual fund boards in a speech this week to an industry conference. While discussing her division's work both over the past year and going forward, she expressly sought feedback on ...  >> CONTINUE READING <<<

 

 

SEC takes second stab at regulating funds' derivs use
By Hillary Jackson
The Securities and Exchange Commission this week proposed a rule that would take an "updated and more comprehensive approach" to regulating the use of derivatives by mutual funds and exchange-traded funds. This new draft rule replaces a proposal issued four years ago under then-SEC Chairman Mary Jo White, which has ...  >> CONTINUE READING <<<

 

 

OCIE flags 15(c) deficiencies; should spur boards to 'gut check'
By Hillary Jackson
The Securities and Exchange Commission's Office of Compliance Inspections and Examinations issued a risk alert earlier this month that detailed compliance deficiencies it found while conducting hundreds of fund examinations over the past several years—including some related to mutual fund boards' contract renewal processes. But while OCIE cites problems it ...  >> CONTINUE READING <<<

 

 

Securities lending practices land Pru in hot water
By Hillary Jackson
The Securities and Exchange Commission has charged two Prudential Financial subsidiaries with failing to disclose conflicts of interest and making misleading disclosures to boards overseeing 94 funds. The charges—and a settlement requiring the subsidiaries to pay $32.6 million in penalties—stem from an investigation kicked off by the Enforcement Division three ...  >> CONTINUE READING <<<

 

 

SEC amends auditor independence rules' loan provision
By Hillary Jackson
The Securities and Exchange Commission has adopted amendments to the loan provision of its auditor independence rules in a move designed to "more effectively identify debtor-creditor relationships that could impair an auditor's objectivity and impartiality," according to a statement from SEC Chairman Jay Clayton. Last year Investment Company Institute and ...  >> CONTINUE READING <<<

 

 

SEC on liquidity: No need to report for planned market closures
By Hillary Jackson
The Securities and Exchange Commission's Division of Investment Management has made it clear that funds do not have to notify the regulator when investments become temporarily illiquid as a result of a planned extended market closure. There are several holiday closures in markets around the world throughout the year, and according ...  >> CONTINUE READING <<<

 

 


Most Read