SEC: Rulemaking

"As long as fund managers stick within the confines of plain English or industry usage, they have reasonable discretion to define terms in a fund’s ...

"These are common sense changes that protect investors by ensuring that a fund says what it means, and means what it says"

"I am particularly concerned with the potential lack of transparency as to how the Commission’s staff will administer the rule"

"The fund industry today is diverse, with more funds pursuing ESG strategies or reporting more holdings in derivatives"

"Today’s actions would further secure login protocols by requiring every person filing something into EDGAR to login with individual credentials and to use multi-factor authentication"

This final rule creates six new Advisers Act rules and modifies two others and becomes effective Nov. 13, 2023

'The clock is ticking'

By slipping 2019 fiduciary guidance in as dicta, Commission may signal a crackdown

"Even if we assume that the Commission’s Dickensian tale of hapless and helpless investors is true, the solution is not more regulation"

Here's a rundown of key SEC rules in the works