The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:White Makes Good On a Fund Reg Promise While Giving Ground On SEC Courts Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, September 28, 2015

White Makes Good On a Fund Reg Promise While Giving Ground On SEC Courts

News summary by MFWire's editors

Last week was a busy one at the SEC and for fundsters who pay close attention to every move made by Mary Jo White and her staff. The upshot for fundsters is mixed.

Mary Jo White
Securities and Exchange Commission
On the plus side, the SEC's in-house courts may be about to get a lot friendly to fundsters and others targeted by the regulatory agency. After another courtroom setback in the fight over the in-house courts, last Thursday SEC Chair White and her fellow commissioners proposed a host of changes to what it calls its "administrative proceedings", including giving defendants more time to prepare their defense and the opportunity to depose witnesses during discovery, before the actual hearing.

InvestmentNews and the Wall Street journal covered the proposal.

On the minus side, last Monday the SEC smote its first "Distribution in Guise" target, to the tune of a $40-million settlement. And last Tuesday White followed through on her 2014 promise to push new liquidity management regulations for mutual funds and ETFs. As predicted by SEC watchers earlier this month, the unanimously-approved proposal would allow funds to use "swing pricing" to penalize stampeding investors who all try to exit or enter the fund at the same time. And it would require funds to "implement liquidity risk management programs".

Barron's, ETF.com (twice), ETF Trends, the Financial Times, InvestmentNews, Pensions & Investments, Reuters, and the Wall Street Journal all covered the new liquidity risk management proposal.

So, be careful how you pay for distribution and prepare to do more planning and paperwork around liquidity, but also enjoy more time and preparation to defend yourself or your employer if the SEC ever comes a-knocking in an unfriendly way. 

Edited by: Neil Anderson, Managing Editor

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use