T. Rowe Price Adapts to SEC Rule 18f-4
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When the U.S. Securities and Exchange Commission (SEC) proposed a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, the Commission has given funds a compliance transition period of 18 months.
The Rule 18f-4 took effect on February 19, 2021, but funds have until mid-August of 2022 to demonstrate that they are aligned with the new regime.
Jonathan Siegel, Senior Legal Counsel, Legislative & Regulatory Affairs, T. Rowe Price, said: “We are pleased the SEC’s final rule addressed several key concerns that industry had with the proposed version, including increasing the relative and absolute VaR limits to 200% and 20%, respectively. The rule takes a more holistic approach to oversight of funds’ derivatives use as compared to the existing section 18 framework.”
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MFS Africa strengthens London team 09 March 2021
Source: MFS Africa Leading pan-African fintech MFS Africa has made a raft of senior hires in its London office to drive new offerings targeted at banks, other financial institutions and global development organizations (GDOs); the team is also tasked with leading and enhancing the company’s Treasury function, and strengthening the company’s best-in-class governance, risk management and compliance across its business. Marking its second decade, the investment in London is a statement of intent as MFS Africa seeks to drive fintech innovation and bring its vision of seamless cross-border payments to banks, institutions and governments.