News Centre

Statement On Adoption Of Investment Company Reporting Modernization, SEC Commissioner Kara M. Stein, Oct. 13, 2016, Investment Company Reporting Modernization

Date 13/10/2016

In 2015, the Commission issued two proposals to modernize reporting requirements for registered investment advisers and registered investment funds. We adopted the first of these proposals in August. Those updates will enhance the information that investment advisers must provide on Form ADV – the form that advisers use to register and report annually. The enhancements will fill important data gaps, such as providing the Commission with new detail about the size and activities of separately managed accounts. Because we finalized the Form ADV revisions without an open meeting, I want to take this opportunity to acknowledge the excellent work of the staff on the August release. Thank you to all who contributed – in particular, to the rulemaking staff in the Division of Investment Management.

SIFMA AMG Statement On Today’s SEC Rulemakings

Date 13/10/2016

SIFMA’s Asset Management Group (AMG) issued the following statement on today’s rulemakings by the Securities and Exchange Commission (SEC) from Timothy Cameron, managing director and head of SIFMA AMG:  

“Today the SEC adopted comprehensive new rules on fund reporting and liquidity risk management.  SIFMA AMG supports the SEC taking the initiative to enhance its ability to monitor and regulate asset management activities, and therefore we have supported each of the rulemaking efforts addressed at today’s open meeting.  While we are still in the process of reviewing the final rules, it is clear that the Commission maintained its commitment to the goals of the proposal, including strengthening the SEC's regulatory effectiveness and protecting investors, while showing thoughtful consideration of comments by SIFMA AMG and others.  The rule was strengthened by changes to the proposed classification system, which reduce unnecessary complexity, as well as changes to the proposed three day liquid asset minimum.  We look forward to reviewing the final rules and adoptive guidance and working with the SEC as the industry works toward implementation.”

SEC Adopts Rules To Modernize Information Reported By Funds, Require Liquidity Risk Management Programs, And Permit Swing Pricing - Rules Enhance Investor Protection, Provide More Effective Data Collection By Commission

Date 13/10/2016

The Securities and Exchange Commission today voted to adopt changes to modernize and enhance the reporting and disclosure of information by registered investment companies and to enhance liquidity risk management by open-end funds, including mutual funds and exchange-traded funds (ETFs).  The new rules will enhance the quality of information available to investors and will allow the Commission to more effectively collect and use data reported by funds.  The new rules also will promote effective liquidity risk management across the open-end fund industry and will enhance disclosure regarding fund liquidity and redemption practices. 

Office Of The Comptroller Of The Currency Releases CRA Evaluations For 26 National Banks And Federal Savings Associations

Date 13/10/2016

The Office of the Comptroller of the Currency (OCC) today released a list of Community Reinvestment Act (CRA) performance evaluations that became public during the period of September 1, 2016 through September 30, 2016. The list contains only national banks, federal savings associations, and insured federal branches of foreign banks that have received ratings. The possible ratings are outstanding, satisfactory, needs to improve, and substantial noncompliance.

SEC: Hedge Fund Firm And Supervisor Charged With Failing To Prevent Insider Trading

Date 13/10/2016

The Securities and Exchange Commission today announced that a hedge fund advisory firm and a senior research analyst have agreed to settle charges related to their failures to detect insider trading by one of their employees.

Statement Of CFTC Chairman Timothy Massad On Order Extending De Minimis Threshold Phase-In Termination Date

Date 13/10/2016

I thank my fellow Commissioners for unanimously supporting this order, which extends the phase-in of the de minimis threshold for swap dealing by one year.

Statement At Open Meeting: Modernizing And Enhancing Investment Company And Investment Adviser Reporting, SEC Chair Mary Jo White

Date 13/10/2016

Good morning. This is an open meeting of the Securities and Exchange Commission on October 13, 2016 under the Government in the Sunshine Act.

Concurring Statement Of CFTC Commissioner Sharon Y. Bowen Regarding Order Establishing De Minimis Threshold Phase-In Termination Date Pursuant To Commission Regulation 1.3(ggg)(4)(ii)(C)(1)

Date 13/10/2016

While we might disagree on the details of today’s order, I think we can all agree on one thing: today’s action is very important to how the swaps industry operates and our system of financial regulation functions. If we do not accurately and appropriately set the mandatory level of trading for swap dealer registration, our entire regulatory regime for the swaps market will be weakened.

Hong Kong's Securities And Futures Commission Commences Cybersecurity Review On Brokers’ Internet And Mobile Trading Systems

Date 13/10/2016

The Securities and Futures Commission (SFC) has launched a review to assess the cybersecurity preparedness, compliance and resilience of brokers’ internet and mobile trading systems. 

EBRD And Zagreb Stock Exchange Support Growth In Croatia

Date 13/10/2016

The European Bank for Reconstruction and Development (EBRD) and the Zagreb Stock Exchange(ZSE) are launching the “SME Growth Market Project”. Presented to the public today in Zagreb, the project aims to increase the access of local small and medium-sized enterprises (SMEs) to local capital markets.