SEC exam anxiety? It’s a real thing.

Chief Compliance Officers in the investment industry face a tall task these days. One of the most aggressive SEC regimes in recent history is flexing its muscles to put CCOs and their senior management on notice. The SEC is pursuing a high octane combination of increased examinations bolstered by numerous rulemaking initiatives sure to keep compliance professionals busy over the next decade. It’s no wonder CCOs are reaching for the Tums inside their desk drawer.…

Read More

Money fund rule finalized, others to follow (IGNITES)

The SEC’s money fund rule is the latest new rule to be adopted and it comes with a key concession. One of the rule’s intentions is to prevent runs on money funds and a controversial provision that would have required swing pricing was dropped from the final version. Instead of including burdensome swing pricing for institutional prime and tax-exempt money market funds, the rule now has a mandatory liquidity fee that money funds must implement…

Read More


SEC pursues its regulatory agenda

The SEC continues to be highly active from both an examination and rulemaking perspective. The Division of Examinations (EXAMS) and the Division of Investment Management (IM) continue to work closely together in order to further rein in the asset management industry. In June, EXAMS released another Risk Alert (“the Alert”) related to the revised Marketing Rule, the Spring 2023 SEC Regulatory Agenda was released around the same time, while a new Proxy Voting Rule took…

Read More