SEC Rules Content

FINRA recently issued a regulatory notice expressing concerns associated with the sale of complex products and options to retail investors, and soliciting comment on related practices and rule enhancements.

On February 10, the Securities and Exchange Commission proposed amendments to its rules governing beneficial ownership reporting on Schedules 13D and 13G ("Proposal"). Comments on the Proposal are due on April 11, although ICI expects to file by April 7.

ICI submitted a letter responding to the Municipal Securities Rulemaking Board's request for information on environmental, social and governance (ESG) practices in the municipal securities market.

Last week, the SEC filed a civil action against an SEC-registered investment adviser and its affiliated broker-dealer for the adviser recommending to clients mutual fund shares that generated millions of dollars in revenue-sharing payments to the broker-dealer when lower-cost share...

On February 9, the Securities and Exchange Commission proposed rules to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date ("T+2") to one business day after the trade date ("T+1").

On February 9, the Securities and Exchange Commission voted to propose new rules and amendments under the Investment Advisers Act of 1940 with respect to private fund advisers. The proposal passed by a vote of three-to-one. The proposal's goals are to improve private fund adviser...

A friendly reminder that next Wednesday, February 23, from 12:00-3:30 p.m. ET, ICI will hold a virtual members-only meeting of the SEC Rules Committee. We are pleased to have as our guest speakers Sarah ten Siethoff, Associate Director, Brian Johnson, Assistant Director, Nathan Schuur...

On February 10, the SEC, by seriatim approval, proposed amendments to its rules governing beneficial ownership reporting on Schedules 13D and 13G ("Proposal"). Comments on the proposal are due the later of: (i) April 11, 2022 (60 days following the publication of the proposing release...

The U.S. Securities and Exchange Commission has published for comment proposed rules that will require registered investment companies, investment advisers, and business development companies to "adopt and implement written policies and procedures that are reasonably designed to...