MFDF News Feed

February 28, 2022

Panelists will review the recent risk alert issued by the SEC on October 26, 2021, entitled “Observations from Examinations in the Registered Investment Company Initiatives” identifying topics of interest and concern for boards of directors, outside counsel, internal legal staff, and compliance officers. This webinar will be broadcast live from 2:00 to 3:00 Eastern time on Tuesday, March 1, 2022.

February 24, 2022

Commissioner Hester Peirce opposed the proposals stating that “there is no new information that compels reopening the recently adopted rules” since the rules were last amended in 2020.

February 23, 2022

The report recommends several steps to address risks posed by stablecoins including the enactment of legislation to ensure that payment stablecoins are subject to a federal prudential framework on a consistent and comprehensive basis.

February 22, 2022

According to SEC Chair Gary Gensler, shortening the settlement cycle should reduce the amount of margin that counterparties would need to post with clearinghouses.

February 21, 2022

Anne Beaumont from Friedman Kaplan’s LIBOR Transition Task Force will discuss how boards can make sure they have the information and tools necessary to assess the risks and challenges that LIBOR transition presents for funds, evaluate the status and sufficiency of funds’ LIBOR transition plans, and navigate and avoid problems in the final months of the transition.

February 17, 2022

The report notes that NRSROs are increasing their offerings of ESG-related products and services and highlights areas of potential concern , including non-adherence to established methodologies or policies and procedures, inconsistent application of ESG factors, and the adequate disclosure of the use of ESG factors applied in rating actions.

February 16, 2022

More than half of the executives PwC surveyed responded that global ETF assets under management will reach at least $18 trillion by 2026, representing a 14.6% compound annual growth rate (“CAGR’) between June 2021 and June 2026.

February 15, 2022

The working group observed issues with redemption pressures, liquidity, and first mover advantage, and supports further investigation into their contribution to market stress.

February 14, 2022

The rule proposal (Rule 38a-2) would require a fund’s board of directors to approve the initial cybersecurity policies and procedures and review an annual written report on cybersecurity incidents and material changes to the fund’s cybersecurity policies and procedures.

February 14, 2022

Speakers from the IAA's Active Managers Council will highlight the topics from its latest paper titled "Balance the Narrative II: Broadening the Discussion on Active Management." The webinar will broadcast live from 2 pm - 3 pm (ET).

February 11, 2022

The hearing focused heavily on the impact of inflation and rising prices on the economy, the independence of the Federal Reserve, and climate change. Several Republican members of the Committee expressed concerns with prior statements made by Bloom Raskin regarding banks’ allocation of capital to industries with large carbon footprints (such as oil and companies).

February 10, 2022

The proposed amendments are designed to enhance regulators’ ability to assess systemic risk as well as to bolster the Commission’s regulatory oversight of private fund advisers and its investor protection efforts in light of the growth of the private fund industry, the SEC said.

February 9, 2022

The PCAOB is seeking public comment on the proposed structures of these two new advisory groups, as well as nominations for membership in each group.

February 8, 2022

The SEC’s order found that Leaf Group materially misstated that the director was independent even though he served as chief financial officer of another company, for which Leaf’s CEO served as a director and whose compensation committee Leaf’s CEO chaired.

February 7, 2022

The Fed defined a CBDC as a digital liability of a central bank that is widely available to the general public, analogous to a digital form of paper money.

February 3, 2022

The topics at both hearings focused heavily on inflation, price increases, supply chain issues, and employment data

February 2, 2022

Chair Gensler also pointed to what regulations could look like for service providers, many of which are not SEC-registered entities.

February 1, 2022

In this overview of the SEC's proposed amendments to the money market funds rule, we provide a summary and highlights from law firm memos on the topic.

January 31, 2022

Joanne Skerrett, MFDF’s senior counsel, will lead a Q&A session with Theresa Hamacher, chair of Morningstar Funds, on the recent IAA report “Diversity and Investment Performance: A Summary of the Research.” The webinar will broadcast live from 2 pm - 3 pm (ET).

January 27, 2022

Academics say their research shows that machine-learning methods can use information contained in multiple fund characteristics to select funds that earn economically and statistically significant positive risk-adjusted returns net of fees and transaction costs.