Treasury proposed a new rule that would require investment advisers to establish an AML/CFT program and file certain reports, such as Suspicious Activity Reports (SARs), with FinCEN (Proposed Rule).
The Proposed Rule...more
3/13/2024
/ AML/CFT ,
Bank Secrecy Act ,
Beneficial Owner ,
Customer Due Diligence (CDD) ,
Exempt Reporting Advisers (ERAs) ,
FinCEN ,
Investment Adviser ,
Investors ,
Mutual Funds ,
National Security ,
New Rules ,
Notice of Proposed Rulemaking (NOPR) ,
Patriot Act ,
Private Funds ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs) ,
Training ,
U.S. Treasury
The Securities and Exchange Commission, by a vote of 3 to 2, approved significant changes to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 on July 12, 2023. Among other...more
Today, the Securities and Exchange Commission, by a vote of 3 to 2, approved amendments to Rule 2a-7 and other rules that govern money market funds under the Investment Company Act of 1940 (Amendments). Among other things,...more
7/13/2023
/ Compliance ,
De Minimis Claims ,
Fees ,
Illiquid Assets ,
Interest Rates ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Liquidity ,
Money Market Funds ,
NAV ,
Proposed Amendments ,
Securities and Exchange Commission (SEC) ,
Threshold Requirements
The Securities and Exchange Commission, by a vote of three-to-two, on December 15, 2021, proposed amendments (Proposed Amendments) to Rule 2a-7 and other rules that govern money market funds (money funds) under the Investment...more
1/19/2022
/ Illiquid Assets ,
Interest Rates ,
Investment Company Act of 1940 ,
Liquidity Fees ,
Money Market Funds ,
Proposed Amendments ,
Regulatory Agenda ,
Regulatory Reform ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Swing Pricing
On December 15, 2021, the Securities and Exchange Commission, by a party-line vote of three-to-two, proposed for public comment amendments (Proposed Amendments) to Rule 2a-7 and other rules that govern money market funds...more
The Financial Industry Regulatory Authority (“FINRA”) on October 6, 2021, published a regulatory notice (“Notice”) requesting comment on a proposal requiring broker-dealers to publish quarterly order routing disclosure...more
11/12/2021
/ American Depository Receipts (ADRs) ,
Broker-Dealer ,
Comment Period ,
Disclosure Requirements ,
Equity Securities ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Management ,
Regulation NMS ,
Regulatory Reform ,
Securities Regulation ,
Securities Transactions
The staff of the Securities and Exchange Commission’s Division of Examinations (Staff) on February 26, 2021, published a Risk Alert (Risk Alert)1 regarding digital asset securities.2 The Risk Alert highlights observations...more
The Staff of the Securities and Exchange Commission’s Division of Trading and Markets (Staff) issued a no-action letter to the Financial Industry Regulatory Authority on September 25, 2020 (Letter), in which the Staff stated...more
The Office of the Comptroller of the Currency published an interpretive letter on September 21, 2020 (Letter), confirming that national banks and federal savings associations (together, banks) may hold “stablecoin” reserves...more