SEC Commissioner Glassman Meets with SEG at Washington Conference
On January 27, SEC Commissioner Cynthia Glassman met with the AMF Senior Executives Group at the Washington D.C. Offices of The Bond Market Association. At the meeting, Commissioner Glassman spoke on several of the recent regulatory actions and initiatives that the Commission has undertaken.
Commissioner Glassman, who spoke primarily on mutual fund and hedge fund reform, addressed regulatory topics including independent chairs, hard 4 o'clock closes, point of sale disclosure, two percent redemption fees and amendments to Rule 12b-1 (directed brokerage) among others. The Commissioner also stated that the SEC plans to conduct a comprehensive overview of current disclosure requirements. Also, the Commissioner encouraged the SEG to continue with its industry education initiatives.
Based upon the comments and discussions with Commissioner Glassman and other representatives from both the public and private sector, the Senior Executives Group has begun to identify salient regulatory and legislative policies that could affect the business of asset management firms. The SEG will continue to monitor regulatory developments and specifically developments related to the SEC's Task Force on Soft Dollars and hedge fund and mutual fund reform. The SEG will also work jointly with The Bond Market Association on advocacy goals with the investment community.
To engage the Chief Operating Officer or another senior executive at your firm in the initiatives of the SEG, contact Joseph Sack of The Bond Market Association, who serves as Executive Director of the Senior Executives Group at 646.637.9265.
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