Investment Advisers Content

The three European Supervisory Authorities (ESAs) published a Call for Evidence on greenwashing to gather input from stakeholders on how to understand the key features, drivers and risks associated with greenwashing and to collect examples of potential greenwashing practices. Comments...

On November 10, the Financial Stability Board (FSB) issued a progress report on work to enhance the resilience of non-bank financial intermediation (NBFI). The FSB's NBFI work program, first published as part of its Holistic Review of the March Market Turmoil in November 2020, spans...

On November 2, 2022, by a 3-2 vote, the SEC approved a proposal that would: amend Rule 22e-4 (the "liquidity rule"), which applies to open-end funds; require mutual funds to adopt swing pricing; and change all Form N-PORT filers' reporting obligations

On November 2, the Securities and Exchange Commission adopted amendments to Form N-PX and related rules (collectively, "amendments") to enhance reporting of proxy voting information by registered investment companies ("funds") and institutional investment managers ("managers"). The...

On Wednesday, October 26, 2022, the SEC approved in a 3-2 vote a proposal for a new rule and related amendments to prohibit SEC-registered investment advisers from outsourcing certain services or functions to service providers without meeting minimum requirements. The SEC's stated...

In December 2020, the SEC adopted rule amendments that replaced the existing Investment Advisers Act advertising and cash solicitation rules for investment advisers and private funds with a single, combined "Marketing Rule." The new Marketing Rule does not apply to advertisements...

Today, the SEC staff issued an FAQ relating to investment adviser considerations of diversity, equity and inclusion (DEI) factors in the selection or recommendation of other investment advisers. The FAQ states that, under its fiduciary duty, an investment adviser may consider a...

Earlier this week, ICI submitted supplemental comments (linked below) on the SEC's 2020 disclosure proposal for open-end funds ("funds"). On September 15, the SEC's Office of the Investor Advocate filed with the SEC a research paper on funds' choice of performance benchmarks and...

On September 27, the SEC's Division of Enforcement announced that it had charged fifteen broker-dealers and one investment adviser associated with one of the broker-dealers with "widespread and longstanding failures by the firms and their employees to maintain and preserve electronic...

In August, the Financial Industry Regulatory Authority (FINRA) and the Municipal Securities Rulemaking Board (MSRB) issued proposals and requested comment regarding reducing the trade reporting timeframe for certain transactions reported to the Trade Reporting and Compliance Engine...