News

June 2, 2022

Gensler noted “I’ve asked our Division of Investment Management and Division of Examinations to take a renewed and focused look at the use of derivatives by registered investment companies so that they’re compliant with our rules.”

June 1, 2022

Grewal's remarks note that while a “zealous advocacy” is required, delay tactics, slow document production, and other “dilatory or obstructive” efforts may impact cooperation credit that the agency extends as a courtesy to those who oblige investigation.

May 31, 2022

The “Investor Democracy is Expected (INDEX) Act” would require investment advisers of passively-managed funds to vote proxies in accordance with the instructions of fund investors—not at the discretion of the adviser.

May 27, 2022

In their open meeting, the Securities and Exchange Commission (SEC) voted 3-1 to advance two rule proposals covering the Commission’s rules governing fund names and disclosure requirements for funds with an ESG focus.

May 27, 2022

On June 2, 2022, from 3- 5 p.m. ET, Deloitte’s senior leadership will join with mutual fund directors for an exclusive virtual roundtable conversation centered on key mutual fund board director governance issues and risks.

May 26, 2022

According to the SEC, when the 2020 COVID-related market volatility revealed that AGI US and the defendants had misled investors about the unregistered fund’s level of risk, the fund suffered catastrophic losses and investors lost billions; the defendants all the while profited from their deception.

May 25, 2022

The latest installment of Ropes & Gray LLP’s podcast series on ETFs discusses the ongoing impacts of the Russia/Ukraine conflict on ETFs, including questions related to valuation and custody of Russian and Russian-related assets.

May 24, 2022

Barron’s reports that a March draft of a Senate bill would leave the SEC in charge of overseeing a significant part of the crypto industry while moving some responsibilities to the CFTC.

May 23, 2022

The researchers recognized that the index provider market is highly concentrated and dominated by a few large players.

May 20, 2022

Open meeting to discuss possible 1940 Act and Advisers Act amendments related to ESG.

May 19, 2022

Questions from Members of Congress focused on inflation, the potential risk posed by climate change, cryptocurrency and stablecoins, the Ukrainian/Russian conflict, as well as other risks posed by the financial system.

May 18, 2022

Each spring MPI releases its “Survey of Mutual Fund Director/Trustee Compensation and Organizational Practices,” which provides aggregate compensation data received through confidential questionnaires, as well as SEC filings.

May 17, 2022

The SEC has faced increasing criticism from Washington lobbyists and industry groups for 30-day comment periods on recent proposals, according to media reports.

May 16, 2022

Management Practice Inc. (MPI) is pleased to announce the 17th annual MPI Survey of Mutual Fund Chief Compliance Officer Compensation and Organizational Practices.

May 16, 2022

Since its creation in 2017, the unit has brought more than 80 enforcement actions related to fraudulent and unregistered crypto asset offerings and platforms, resulting in monetary relief totaling more than $2 billion, the SEC said.

May 12, 2022

The Senate is still expecting to vote on Jerome Powell’s nomination to serve another four-year term as Fed Chair.

May 11, 2022

The SEC staff found evidence of advisers that “did not have policies and procedures in place to assign the CCO’s reporting to another member of the adviser – effectively permitting the CCO to self-review his/her own holding and transaction reports."

May 10, 2022

Gensler stated “a greater share of bond ownership has shifted to registered investment companies, like mutual funds, money market funds, exchange-traded funds, and closed-end funds. This shift raises challenges for financial resiliency.”

May 9, 2022

On Thursday May 12, 2022, K&L Gates partner Michael W. McGrath will be speaking on a virtual panel for the Global Association of Risk Professionals (GARP) called “The Rise of the Derivatives Risk Manager.”

May 6, 2022

Cybersecurity and the Evolving Threat Landscape: The Role of the Independent Director is a joint effort between the MFDF and consulting and audit firm Deloitte.