Security - Check Permissions

MFDF - Mutual Fund Directors Forum - Champ Discusses IM Division Priorities

Member Login



Request an account

Sample Banner 1

Champ Discusses IM Division Priorities

Norm Champ, Director of the SEC Division of Investment Management, recently outlined his short and long-term priorities for the Division.  Short-term priorities include:

  • Potential Money Market Fund Reform – At the direction of the Chairman, the staff is currently engaged with the Commissioners on developing a money market fund reform recommendation.

  • Valuation Guidance – The Division is working on valuation guidance for funds and fund directors.  Champ stated that the Division “need[s] to level set requirements and make sure funds and their directors are aware of prudent practices that will lead to fair and accurate valuations.”

  • Identity Theft Red Flags Rules – The Division is also working on final rules to detect and prevent theft of the identities of mutual fund investors and clients of asset managers.  Proposed rules were issued jointly by the CFTC and SEC in February 2012.

Champ’s longer-term priorities include codifying current routine ETF exemptive relief and assessing whether, and how, 40 Act rules should be revised to adequately account for the use of derivatives by investment companies.

The remarks were delivered by David Grim, Deputy Director of the Division of Investment Management at the Investment Management Institute on March 7.  Mr. Grim will be appearing at the Forum’s 2013 Policy Conference which is being held in DC on April 10th and 11th.