Evaluation Rule News Today

Each year, the SEC’s Division of Examinations (the “Division”) releases its priorities for the upcoming year, providing SEC registrants with a helpful tool to assist in managing,...

SEC’s Division of Examinations last week announced its 2023 examination priorities. The division’s annual announcement of priorities provides valuable insight into categories of registrants most likely to be subject of SEC examination and issues most likely to be focus of examinations.

The SEC’s Division of Examinations last week announced its 2023 “examination priorities.” The division’s annual announcement of priorities provides valuable insight into the categories...

The Office of the Chief Accountant of the SEC's Division of Investment Management periodically issues "Dear Chief Financial Officer" letters to help registered investment companies...

Monday, April 19, 2021 On March 11, 2021, the staff of the SEC’s Division of Investment Management issued a statement soliciting industry feedback on the regulatory regime governing registered fund cross trading following the adoption of the new valuation rule in December 2020. Fund cross trades must be effected in accordance with Rule 17a-7 under the Investment Company Act. Absent further SEC staff guidance or SEC action, however, Rule 17a-7 may no longer be available for cross tra...

REGULATORY UPDATES SEC Leadership Changes On April 14, 2021, the U.S. Senate voted to approve President Biden’s nomination of Gary Gensler as Chairman of the Securities and Exchange Commission (the “SEC”) through June 5, 2021. The vote came after the Senate Banking Committee endorsed Gensler’s nomination in March 2021. The confirmation only approves Gensler to serve the remainder of former SEC Chairman Jay Clayton’s term, though the Senate Banking Committee has cleared Gensler to serv...

SEC: Staff Statement On Investment Company Cross Trading, Division Of Investment Management Staff Date 11/03/2021 This Staff Statement is presented by the Staff of the Division of Investment Management (the “Staff”). In this statement, the Staff addresses certain aspects of investment company cross trading. The Staff is interested in feedback on ways to enhance the regulatory regime governing investment company cross trading. This Staff Statement is not a rule, regulation, or stateme...